First Community Financial Partners, Inc. (FCFP) 10-K Annual Report March 2017

JOLIET, IL, January 23, 2017 -- First Community Financial Partners, Inc. (NASDAQ: FCFP) (“First Community,” “FCFP” or the “Company”), the parent company of First Community Financial Bank (the “Bank”), today reported financial results as of and for the three and twelve months ended December 31, 2016.

Net income applicable to shareholders for the quarter ended December 31, 2016 was $2.7 million, or $0.15 per diluted share, compared with $2.9 million, or $0.17 per diluted share, for the quarter ended December 31, 2015. Financial results for the fourth quarter of 2015 were positively impacted by a negative provision for credit losses of $515,000. Pre-tax, pre-provision core income was $4.3 million in the fourth quarter of 2016, an increase of 11.29% from $3.8 million in the same period of the prior year.

“We delivered a strong performance in the fourth quarter, driven by positive trends in revenue, operating efficiencies and asset quality,” said Roy Thygesen, Chief Executive Officer of First Community.

“We had another strong quarter of business development, resulting in organic loan growth of 15% on an annualized basis. We are generating well balanced loan production and seeing solid growth across all of our major lending areas.”

“We were able to create significant franchise value in 2016 through organic growth and the completion of our first acquisition. We intend to continue to execute on our core strategies in 2017, focusing on developing additional commercial banking relationships with small- and middle-market companies and exploring other acquisitions in our existing footprint that can strengthen our core deposit base. We anticipate another year of double-digit organic loan growth, increased operating efficiencies, and stable credit quality in 2017, resulting in further improvement in our overall level of profitability and additional value being created for our shareholders,” said Mr. Thygesen.

The following information was filed by First Community Financial Partners, Inc. (FCFP) on Monday, January 23, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

First Community Financial Partners, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 10.24: Material Contract

Exhibit 10.25: Material Contract

Exhibit 10.26: Material Contract

Exhibit 10.27: Material Contract

Exhibit 10.28: Material Contract

Exhibit 10.29: Material Contract

Exhibit 10.30: Material Contract

Exhibit 21.1: Subsidaries Of The Registrant

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: FCFP
CIK: 1469134
Form Type: 10-K Annual Report
Accession Number: 0001469134-17-000066
Submitted to the SEC: Wed Mar 08 2017 5:22:20 PM EST
Accepted by the SEC: Wed Mar 08 2017
Period: Saturday, December 31, 2016
Industry: State Commercial Banks

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First Community Financial Partners, Inc. (FCFP) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2016

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