Signature Bank of Georgia (OTCPK: SGBG) (“Signature”) today announced the signing of a definitive agreement with First Community Corporation (NASDAQ: FCCO) (“First Community”), parent company of First Community Bank, under which Signature will be acquired by First Community in an all-stock transaction.
Olsen Palmer LLC served as financial advisor and issued a fairness opinion to Signature Bank of Georgia in connection with this transaction.
Per the merger agreement, Signature shareholders will have the right to receive 0.6410 shares of First Community common stock for each share of Signature common stock upon the closing of the transaction. Based on First Community’s closing price of $24.84 per share as of July 11, 2025, the merger consideration to Signature shareholders has a total current value of approximately $41.6 million.
The merger agreement has been unanimously approved by the Board of Directors of each company. Closing of the transaction, which is expected to occur no later than the first quarter of 2026, is subject to customary conditions, including regulatory approval and approval by the shareholders of Signature and First Community.
On a pro forma basis, the combined company is expected to have approximately $2.3 billion in total assets, $2.0 billion in total deposits, and $1.5 billion in total loans at closing. The transaction will create a 23-office banking company with locations spanning the Midlands, Aiken, Upstate, and Piedmont Regions of South Carolina, the Augusta, Georgia area, and now the Atlanta-Sandy Springs-Roswell, Georgia MSA.
Olsen Palmer remains a top 3 bank M&A advisor nationwide based on the number of transactions advised upon since 2020, according to S&P Global