Item 2.02. Results of Operations and Financial Condition.
On January 22, 2020, First Community Corporation (the "Company"), holding
company for First Community Bank, issued a press release announcing its
financial results for the period ended December 31, 2019. The Company announced
that the Board of Directors has approved a cash dividend for the fourth quarter
of 2019. The Company will pay a $0.12 per share dividend to holders of the
Company's common stock. This dividend is payable on February 14, 2020 to
shareholders of record as of January 31, 2020.
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) competitive pressures among depository and other financial
institutions may increase significantly and have an effect on pricing, spending,
third-party relationships and revenues; (2) 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; (3) 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; (4) changes in the U.S. legal and regulatory framework; (5)
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; (6) 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; (7) adjustments of
fair values of acquired assets and assumed liabilities and of deferred taxes in
acquisitions; (8) changes in tax laws and regulations; and (9) 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.
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