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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): March 1, 2022

 

   First Community Corporation   

(Exact name of registrant as specified in its charter)

 

   South Carolina   

(State or other jurisdiction of incorporation)

         
  000-28344   57-1010751  
  (Commission File Number)   (IRS Employer Identification No.)  
         
  5455 Sunset Blvd, Lexington, South Carolina   29072  
  (Address of principal executive offices)   (Zip Code)  

 

   (803) 951-2265   

(Registrant’s telephone number, including area code)

 

   Not Applicable   

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class Trading Symbol(s) Name of exchange on which registered
Common stock, par value $1.00 per share FCCO The Nasdaq Capital Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company o

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

 
 

 

Item 8.01 Other Events.

 

On March 1, 2022, First Community Bank, the wholly-owned bank subsidiary of First Community Corporation, issued a press release announcing the hiring of a team of experienced lenders in Rock Hill, South Carolina. First Community Bank intends to establish a loan production office in Rock Hill, South Carolina, subject to prior notice and nonobjection from the Office of the Commissioner of Banking of South Carolina. Thereafter, First Community Bank may open a full-service banking office in Rock Hill, South Carolina, subject to approval by our regulators.

 

FORWARD-LOOKING STATEMENTS

 

Certain statements in this report may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to future plans, goals and expectations, and are thus prospective. Forward looking statements can be identified by words such as “anticipate,” “expects,” “intends,” “believes,” “may,” “likely,” “will” or other statements that indicate future periods. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Such risks, uncertainties and other factors, include, among others, the following: (1) unexpected challenges and potential disruptions related to establishing or opening a loan production office or full-service banking office and (2) risks, uncertainties and other factors disclosed in our most recent Annual Report on Form 10-K filed with the SEC, or in any of our Quarterly Reports on Form 10-Q or Current Reports on Form 8-K filed with the SEC since the end of the fiscal year covered by our most recently filed Annual Report on Form 10-K, which are available at the SEC’s Internet site (http://www.sec.gov).

 

Although we believe that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. We can give no assurance that the results contemplated in the forward-looking statements will be realized. The inclusion of this forward-looking information should not be construed as a representation by our company or any person that the future events, plans, or expectations contemplated by our company will be achieved. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

Item  Exhibit and Exhibit List
    
99.1  

Press Release of First Community Bank.

    
104  Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document).

 

 
 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  FIRST COMMUNITY CORPORATION
       
  By:

/s/ D. Shawn Jordan

 
  Name: 

D. Shawn Jordan

 
  Title: Chief Financial Officer  

 

Dated: March 1, 2022

 

Exhibit 99.1

 

  NEWS RELEASE
   
   
  For Information:
Robin Brown
Executive Vice President
(803) 951-0507
[email protected]

 

 

 

First Community Bank Expands to Rock Hill, South Carolina Region

With Team of Veteran Local Bankers

 

March 1, 2022 (Lexington, SC) – First Community Bank, headquartered in Lexington, South Carolina, is expanding to York County, South Carolina with the intent to open a loan production office in Rock Hill. Catherine H. Faircloth, a Rock Hill native and veteran banker will lead this new market for First Community as Regional Market President. Joining her are Michael Clowney as Senior Vice President & Business Development Director and Anne Lambert as Vice President & Commercial Banker. Sally Anne Williamson will support this lending team as the Paralender for this new market. First Community plans to follow this loan production office with a full-service banking office in the Rock Hill area.

Faircloth, Clowney and Lambert bring more than a combined 56 years of banking experience in the Rock Hill region, primarily working with local businesses and professionals. Faircloth commented on First Community’s expansion by saying, “Our team is excited to become a part of the First Community Bank family. We are passionate about our region and joining First Community allows us to continue to serve local businesses and professionals with a partner focused on their unique needs. With First Community’s strong record of success and similar values, we knew this was a great fit for us.”

Founded in 1995, First Community Bank operates 21 full-service offices and has over 250 employees in the Midlands and Upstate of South Carolina and the Aiken and Augusta, Georgia areas. The bank has three primary lines of business including commercial and retail banking, residential mortgage lending, and financial planning/investment advisory services.

First Community sees tremendous growth opportunities in York County. “Business activity in Rock Hill, Fort Mill and Tega Cay is strong, and we have found the right bankers to lead our introduction into this market,” said Michael Crapps, CEO of First Community Bank. “We are very pleased to assemble a team that matches our distinct style of banking and that will serve the many area local businesses, professionals, organizations and individuals with a high level of financial solutions.”

York County is the seventh-largest county in South Carolina with Rock Hill the fifth-largest city in the state. Rock Hill is located along the Catawba River and is home to numerous nature trails, restaurants, parks and three colleges, including Winthrop University. Next year will see the first phase opening of The Carolina Panthers Rock Hill Development, an innovative world-class sports complex and destination for the entire region, offering entertainment, dining, retail, medical care, housing, and outdoor recreation.

   

 

“Anytime we are considering a new market, it’s important we really get to know the things that make it distinct,” said Ted Nissen, First Community Bank President and Chief Banking Officer. “The Rock Hill region is an economic force of its own yet retains a great mix of traditional businesses as well as new ones in technology and other modern industries - all while being recognized as one of the best places to live.”

 

-###-

 

 

First Community Bank, founded in 1995 and headquartered in Lexington, South Carolina, is a wholly owned subsidiary of First Community Corporation (NASDAQ: FCCO). First Community is a full-service commercial bank offering deposit and loan products and services, residential mortgage lending, and financial planning/investment advisory services for businesses and consumers. First Community serves customers in the Midlands, Upstate and Aiken, South Carolina, markets, as well as the Augusta, Georgia area. For more information on First Community Bank, visit www.firstcommunitysc.com.