Business Context and Reporting Period
Company: First Community Corporation (holding company for First Community Bank)
Filing Type: Form 8-K (Current Report)
Date of Report: January 16, 2008
Reporting Period: The filing announces financial results for the period ended December 31, 2007.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. These metrics are referenced as being contained in the attached press release (Exhibit 99.1) but are not detailed within the body of this 8-K document.
Material Changes and Corporate Actions
- Dividend Declaration: The Board of Directors declared a cash dividend of $0.08 per share.
- Record Date: January 31, 2008
- Payment Date: February 15, 2008
- Stock Repurchase Plan Update: The Board authorized an additional 50,000 shares for repurchase under the existing plan.
- Previous Authorization: 200,000 shares
- New Total Authorization: 250,000 shares
- Shares Repurchased to Date (as of Dec 31, 2007): 189,813 shares
- Aggregate Cost of Repurchases: $3.28 million
- Shares Remaining Available for Repurchase: 60,187 shares
Guidance, Outlook, and Management Commentary
Management stated that the stock repurchase plan is intended to provide capital management opportunities and build value for shareholders, subject to market and business conditions. The plan may be discontinued, suspended, or restarted at any time at management's discretion. No specific financial guidance or outlook for future periods is provided in this filing.
Investor Verification Checklist
- Review the attached Earnings Press Release (Exhibit 99.1) for specific revenue, net income, and balance sheet figures for the quarter ended December 31, 2007.
- Verify the record date (January 31, 2008) to determine eligibility for the $0.08 per share dividend.
- Monitor future filings for updates on the execution of the remaining 60,187 shares available under the stock repurchase plan.
- Confirm the total number of shares outstanding to calculate the total dividend payout obligation.