Palmetto South Mortgage Corporation Assumes First Community Bank Name
September 8, 2014 (Lexington, SC) – First Community Bank is pleased to announce that Palmetto South Mortgage Corporation is now operating under the First Community Bank name making the combined units one of the Midlands largest residential mortgage companies. First Community acquired Palmetto South in August of 2011, and the company continued to operate as a separate entity until earlier this year when the process of merging the two units began. Jan Hadder-Jones, Senior Vice President and Director of Mortgage Banking, will lead the integrated teams.
For more than 13 years, Palmetto South has offered mortgage loan products for home purchase or refinance in the South Carolina market area from its Columbia headquarters. Mike Crapps, President and CEO of First Community Bank said, “The integration of our two mortgage units allows us to reach more customers with quality financial products and an exceptional level of customer service.”
This continues a period of tremendous growth. In 2008, First Community added a financial planning / investment advisory line of business and earlier this year, the bank expanded into Aiken, South Carolina and Augusta, Georgia through the acquisition of Savannah River Banking Company. The bank recently opened a new banking office in downtown Columbia at 1213 Lady Street and is scheduled to break ground on a new banking office in Blythewood early in the fourth quarter of this year.
First Community Bank, founded in 1995 and headquartered in Lexington, South Carolina, is a wholly owned subsidiary of First Community Corporation (NASDAQ: FCCO). First Community is a full service commercial bank offering deposit and loan products and services for businesses and consumers, residential mortgage lending, and financial planning/investment advisory services. First Community has a network of 14 banking offices located in the Midlands of South Carolina, Aiken, South Carolina and Augusta, Georgia.