Item 2.02. Results of Operations and Financial Condition.
On January 18, 2023, 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, 2022. The Company announced
that the Board of Directors has approved a cash dividend for the fourth quarter
of 2022. The Company will pay a $0.14 per share dividend to holders of the
Company's common stock. This dividend is payable on February 14, 2023 to
shareholders of record as of January 31, 2023.
A copy of the press release is attached hereto as Exhibit 99.1.
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, projections and expectations, and
are thus prospective. Forward looking statements can be identified by words such
as "anticipate," "expects," "intends," "believes," "may," "likely," "will",
"plans" 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) 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,
including, but not limited to, due to the negative impacts and disruptions
resulting from the outbreak of the novel coronavirus, or COVID-19, on the
economies and communities we serve, which may continue to have an adverse impact
on our business, operations and performance, and could continue to have a
negative impact on our credit portfolio, share price, borrowers, and on the
economy as a whole, both domestically and globally; (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 legislation, regulation, policies, or administrative
practices, whether by judicial, governmental, or legislative action; (5) adverse
conditions in the stock market, the public debt markets and other capital
markets (including changes in interest rate conditions) could continue to have a
negative impact on the company; (6) technology and cybersecurity 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; and (7) 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 Exhibits
99.1 Earnings Press Release for the period ended December 31, 2022.
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document).
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