BUSINESS COMBINATION |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] | |
| BUSINESS COMBINATION | Note 25 – BUSINESS COMBINATION
On July 13, 2025, the Company and Signature Bank of Georgia, a Georgia state-chartered bank (“Signature Bank”), entered into an Agreement and Plan of Merger (the “merger agreement”), which provides that, subject to the terms and conditions set forth therein, Signature Bank will merge with and into First Community Bank, with First Community Bank continuing as the surviving entity following the merger. Financial closing occurred on January 8, 2026, with the operational conversion to follow later in the first quarter of 2026.
At the effective time of the merger, each share of Signature Bank common stock converted into the right to receive 0.6410 shares of the Company’s common stock. Holders of Signature Bank common stock received a cash payment in lieu of any fractional shares. At the effective time of the merger, each outstanding stock option to acquire Signature Bank common stock, whether or not vested, was converted into the right to receive a cash payment. The amount payable equals the number of shares of Signature Bank common stock subject to the option multiplied by the excess, if any, of the fair market value per share of Signature Bank common stock (based on the value of the merger consideration) over the option’s exercise price. If the exercise price equals or exceeds the fair market value, a nominal payment of $0.01 per share will be made. All payments will be subject to applicable tax withholdings. |