Current Report Filing (8-k)
July 18 2018 - 10:14AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 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):
July 18, 2018
First
Community Corporation
(Exact
Name of Registrant As Specified in Its Charter)
South
Carolina
(State
or Other Jurisdiction of Incorporation)
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|
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000-28344
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57-1010751
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(Commission
File Number)
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(I.R.S.
Employer Identification No.)
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5455
Sunset Blvd, Lexington, South Carolina
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29072
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(Address
of Principal Executive Offices)
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(Zip
Code)
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(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))
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 2.02. Results of Operations
and Financial Condition.
On July 18, 2018, First Community
Corporation (the “Company”), holding company for First Community Bank, issued a press release announcing its financial
results for the period ended June 30, 2018. The Company announced that the Board of Directors has approved a cash dividend for
the second quarter of 2018. The Company will pay a $0.10 per share dividend to holders of the Company’s common stock. This
dividend is payable on August 13, 2018 to shareholders of record as of July 30, 2018.
A copy of the press release is attached
hereto as Exhibit 99.1.
FORWARD-LOOKING STATEMENTS
Certain statements in this report
contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such
as statements relating to future plans, goals, projections and expectations, and are thus prospective. 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) the businesses of the Company and Cornerstone Bancorp may not be integrated successfully or such integration may
take longer to accomplish than expected; (2) the expected cost savings and any revenue synergies from the merger may not be fully
realized within the expected timeframes or at all; (3) disruption from the merger may make it more difficult to maintain relationships
with clients, associates, or suppliers; (4) competitive pressures among depository and other financial institutions may increase
significantly and have an effect on pricing, spending, third-party relationships and revenues; (5) the strength of the United
States economy in general and the strength of the local economies in which we conduct operations may be different than expected
resulting in, among other things, a deterioration in the credit quality or a reduced demand for credit, including the resultant
effect on the company’s loan portfolio and allowance for loan losses; (6) the rate of delinquencies and amounts of charge-offs,
the level of allowance for loan loss, the rates of loan growth, or adverse changes in asset quality in our loan portfolio, which
may result in increased credit risk-related losses and expenses; (7) changes in the U.S. legal and regulatory framework; (8) adverse
conditions in the stock market, the public debt markets and other capital markets (including changes in interest rate conditions)
could have a negative impact on the company; (9) technology and cybersercurity risks, including potential business disruptions,
reputational risks, and financial losses, associated with potential attacks on or failures by our computer systems and computer
systems of our vendors and other third parties; (10) purchase accounting application to the Cornerstone Bancorp merger and subsequent
adjustments with respect thereto or for other acquired businesses and assets and assumed liabilities in such transactions; (11)
adjustments of fair values of acquired assets and assumed liabilities and of deferred taxes in acquisitions; (12) changes in tax
laws and regulations; and (13) 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.
ITEM 8.01. Other Events.
The information set forth in Item
2.02 of the Current Report on Form 8-K is incorporated by reference in this Item 8.01.
ITEM 9.01. Financial Statements
and Exhibits.
(d) Exhibits
Item
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Exhibit
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99.1
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Earnings
Press Release for the period ended June 30, 2018.
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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.
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FIRST
COMMUNITY CORPORATION
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By:
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/s/
Joseph G. Sawyer
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Name:
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Joseph
G. Sawyer
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Title:
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Chief
Financial Officer
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Dated: July
18, 2018
Exhibit List
99.1
Earnings Press Release for the period ended June 30, 2018
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