First Community Corporation has announced that J. Ted Nissen, the company’s Executive Vice President and Chief Banking Officer, will retire from all his positions effective December 31, 2026. This news marks a significant leadership change for the company and is expected to influence its future direction.

Nissen has played a key role in the company’s operations and strategic planning. His retirement will not only affect First Community Corp but also the broader state commercial banking sector, as competitors may need to adapt to the changes in leadership dynamics.

Background

First Community Corp, incorporated in South Carolina, operates under the SIC code 6022, which designates it as a state commercial bank. The company is publicly traded on the Nasdaq under the ticker symbol FCCO. Recent filings indicate that the company is navigating various transitions as it prepares for Nissen's departure.

What the Filing Says

According to the recent SEC filing (accession number 0001552781-26-000507), Nissen’s retirement will be accompanied by a consulting agreement effective January 1, 2027. The agreement outlines that he will assist the leadership teams during the transition period and provide strategic advice until December 31, 2027. The filing states, "Mr. Nissen will serve as an independent contractor and outside consultant to support the Bank's and the Company's leadership teams as they transition to new roles and responsibilities."

Impact

This transition could have significant implications for First Community Corp and its stakeholders, including employees, shareholders, and customers. The company aims to ensure continuity in leadership and strategic direction during this period of change. Nissen’s extensive experience and knowledge will be vital as the company adapts to new leadership.

What's Next

The filing does not specify what happens next beyond the consulting agreement. However, it indicates that a copy of the consulting agreement will be filed as an exhibit to the company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2026.