First Community Corporation Announces Retirement of Specialty Lending Director

What Happened
First Community Corporation (FCCO) announced on August 19, 2026 that Freddie Deutsch has notified the company and First Community Bank of his voluntary retirement as Director of Specialty Business Lending, effective January 15, 2027. Mr. Deutsch joined FCCO/First Community Bank as part of the Signature Bank of Georgia acquisition (completed January 8, 2026) to help with integration and to develop the Bank’s SBA lending line; having substantially completed those objectives, he will step down and also leave the boards of the Company and the Bank as of the Retirement Date. The company and Mr. Deutsch signed a letter amendment to his July 13, 2025 employment agreement to document the planned retirement and transition.

Key Details

• Retirement announced: August 19, 2026; effective January 15, 2027.
• Transition role: Mr. Deutsch will serve in an advisory capacity from the letter amendment date through the Retirement Date and will be treated as a full‑time employee during that period.
• Compensation changes: Mr. Deutsch will receive the first $50,000 retention bonus installment (plus related carve‑back payment); remaining retention bonus installments will be forfeited as of the Retirement Date.
• Equity/benefits: Outstanding equity awards: unvested shares will be forfeited as of the Retirement Date. Bank-subsidized health coverage provided for up to 18 months after retirement.
• Conditions: The letter amendment’s effectiveness is conditioned on Mr. Deutsch signing a general release of claims. The Employment Agreement’s restrictive covenants (confidentiality, non-solicit, non-compete) remain in effect.

Why It Matters
This is a voluntary, planned departure tied to completion of post‑acquisition integration and SBA lending development work, not to any disagreement with management. Investors should note potential near‑term impacts on client and referral relationships tied to the acquired Signature Bank of Georgia business and the Bank’s SBA lending activity, as well as the Bank’s need to manage continuity during the transition. Compensation and benefit terms are largely settled (one retention installment paid, health coverage extended), and post‑employment restrictive covenants remain in place.