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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

First Community Financial Partners, Inc.

CIK: 1469134 Ticker: FCFP


Exhibit 99.1
News Release
Contact: Glen L. Stiteley, Chief Financial Officer
   (815) 725-1885
Source:   First Community Financial Partners, Inc.

First Community Financial Partners, Inc. Announces Fourth Quarter 2016 Financial Results

Fourth Quarter 2016 Highlights
Diluted earnings per share (“EPS”) of $0.15
Asset growth of $21.6 million, or 1.73%, from the end of the third quarter of 2016
Loan growth of $34.7 million, or 3.62%, from the end of the third quarter of 2016
Deposit growth of $17.9 million, or 1.68%, from the end of the third quarter of 2016
Noninterest bearing deposits increase of $1.6 million, or 0.65%, from the end of the third quarter of 2016

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

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows (supplemental Information)
Consolidated Statements Of Changes In Shareholders' Equity
Consolidated Statements Of Changes In Shareholders' Equity (parenthetical)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Acquisition
Acquisition (fair Value Of Assets Acquired And Liabilities Assumed) (details)
Acquisition (narrative) (details)
Acquisition (tables)
Capital And Regulatory Matters
Capital And Regulatory Matters (details)
Capital And Regulatory Matters (tables)
Concentrations, Commitments And Contingencies
Concentrations, Commitments And Contingencies (details)
Concentrations, Commitments And Contingencies (tables)
Deposits
Deposits (composition Of Brokered Deposits) (details)
Deposits (composition Of Interest-bearing Deposits) (details)
Deposits (maturities Of Certificates Of Deposit) (details)
Deposits (narrative) (details)
Deposits (tables)
Derivatives And Hedging Activities
Derivatives And Hedging Activities (details)
Fair Value Measurements
Fair Value Measurements (additional Quantitative Information) (details)
Fair Value Measurements (fair Value Measurements, Nonrecurring) (details)
Fair Value Measurements (fair Value, Assets Measured On Recurring Basis, Unobservable Input Reconciliation) (details)
Fair Value Measurements (narrative) (details)
Fair Value Measurements (schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis) (details)
Fair Value Measurements (tables)
Fair Value Measurements (the Estimated Fair Values Of The Company's Financial Instruments) (details)
Foreclosed Assets
Foreclosed Assets (analysis Of The Foreclosed Assets And The Related Provision For Losses) (details)
Foreclosed Assets (expenses Applicable To Foreclosed Assets) (details)
Foreclosed Assets (tables)
Income Taxes
Income Taxes (deferred Tax Assets And Liabilities) (details)
Income Taxes (expense (benefit) Recognized) (details)
Income Taxes (narrative) (details)
Income Taxes (reconciliation) (details)
Income Taxes (tables)
Loans
Loans (activity In The Allowance For Loan Losses, By Portfolio Segment) (details)
Loans (additional Detail Of Impaired Loans, Segregated By Class) (details)
Loans (balance In The Allowance For Loan Losses And The Unpaid Principal Balance Of Loans By Portfolio Segment) (details)
Loans (balances) (details)
Loans (contractual Aging Of The Recorded Investment In Past Due And Nonaccrual Loans) (details)
Loans (loans To Related Parties) (details)
Loans (risk Category Of Loans Evaluated By Internal Asset Classification) (details)
Loans (rollforward Activity Of Troubled Debt Restructurings) (details)
Loans (tables)
Loans (unpaid Principal Balance Of Loans Modified In A Troubled Debt Restructuring) (details)
Other Borrowed Funds
Other Borrowed Funds (composition Of Other Borrowed Funds) (details)
Other Borrowed Funds (narrative) (details)
Other Borrowed Funds (schedule Of Information Pertaining To Securities Sold Under Agreements To Repurchase) (details)
Other Borrowed Funds (tables)
Premises And Equipment
Premises And Equipment (narrative) (details)
Premises And Equipment (premises And Equipment Summary) (details)
Premises And Equipment (schedule Of Future Minimum Rental Payments For Operating Leases) (details)
Premises And Equipment (tables)
Securities Available For Sale
Securities Available For Sale (amortized Cost And Fair Value) (details)
Securities Available For Sale (narrative) (details)
Securities Available For Sale (securities Segregated By Maturity Dates) (details)
Securities Available For Sale (tables)
Securities Available For Sale (unrealized Losses And Fair Value Aggregated By Investment Category) (details)
Stock Compensation Plans
Stock Compensation Plans (information Pertaining To Options Outstanding) (details)
Stock Compensation Plans (narrative) (details)
Stock Compensation Plans (stock Options) (details)
Stock Compensation Plans (summary Of Nonvested Restricted Shares) (details)
Stock Compensation Plans (tables)
Subordinated Debt
Subordinated Debt (narrative) (details)
Subordinated Debt (summary Of Subordinated Debt Outstanding) (details)
Subordinated Debt (tables)
Subsequent Events
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (narrative) (details)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (reconciliation Of The Number Of Shares Used In The Calculation Of Basic And Diluted Earnings Per Common Share) (details)
Summary Of Significant Accounting Policies (tables)
Unaudited Interim Financial Data
Unaudited Interim Financial Data (details)
Unaudited Interim Financial Data (tables)
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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