FCCO — what changed in the latest 10-Q
A section-by-section comparison of FCCO's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-12 vs the prior 10-Q · 2026-05-15
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +64 | −16 | ~70 | 85 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 2 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Market risk (Item 3)
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-12
· risks associated with leadership transitions, including the ability to retain key employees, maintain client relationships, and successfully integrate new executive responsibilities; and
· Our effective tax rate was 22.01% during the three months ended June 30, 2026 compared to 22.41% during the three months ended June 30, 2025. During the second quarter of 2026, we purchased $900,000 in 2026 South Carolina Low-Income Housing Tax Credits, which resulted in an income tax benefit of $…
Other non-interest income increased $139,000 to $1.4 million during the three months ended June 30, 2026 from $1.2 million during the same period in 2025. The $139,000 increase was primarily due to increases in other non-recurring income (gain on insurance proceeds) of $80,000, rental income of $20,…
· Occupancy expenses increased $121,000 to $893,000 from $772,000. These costs were primarily composed of new fees associated with the acquisition of two additional locations as part of the merger with SGBG.
· Merger expenses increased $269,000 to $503,000 from $234,000. These costs were primarily composed of legal and professional fees related to the merger with SGBG.
Text removed vs the prior filing · source: 10-Q · 2026-05-15
· Our effective tax rate was 7.36% during the three months ended March 31, 2026 compared to 22.85% during the three months ended March 31, 2025. This decline was due to federal income tax credits purchased during the three months ended March 31, 2026.
The average balance amounts presented below reflect the corrected preliminary purchase accounting adjustments described in Note 2. The corrections reallocated certain average balances between goodwill and other intangibles and other assets but did not affect total average assets.
Amounts Reflected in April 22, 2026 Earnings Release Corrected Amounts Reflected in Form 10-Q
Goodwill and other intangibles $32.279 million $30.655 million
Other non-interest income increased $24,000 to $1.2 million during the three months ended March 31, 2026 from $1.2 million during the same period in 2025. The $24,000 increase was primarily due to increases in wire transfer fees of $18,000 and rental income of $15,000, partially offset by a decline …
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice