Business Context and Reporting Period
Company: First Community Corporation (holding company for First Community Bank)
Filing Type: Form 8-K (Current Report)
Report Date: April 16, 2008
Reporting Period: Quarter ended March 31, 2008
Key Financial Metrics
The filing references an attached press release (Exhibit 99.1) for detailed financial results but does not explicitly state revenue, profit, cash flow, margins, debt, or liquidity figures within the text of this 8-K.
- Stock Repurchase Program:
- Total Authorized: 250,000 shares
- Repurchased as of March 31, 2008: 207,513 shares
- Total Investment: $3.5 million
- Remaining Available: 42,487 shares
- Dividend Declaration: $0.08 per share
Material Changes
The filing does not provide comparative financial data to quantify material changes in revenue or earnings versus the prior period. The primary material events reported are:
- Announcement of quarterly financial results for the period ended March 31, 2008.
- Declaration of a quarterly cash dividend.
- Progress update on the existing stock repurchase plan, with approximately 83% of authorized shares repurchased.
Guidance, Outlook, and Management Commentary
Management Commentary: Management stated that the stock repurchase plan is intended to provide capital management opportunities and build value for shareholders, contingent upon market and business conditions. The plan may be discontinued, suspended, or restarted at management's discretion.
Dividend Details:
- Record Date: April 30, 2008
- Payment Date: May 15, 2008
Risks and Contingencies: The filing notes that the timing, price, and quantity of share repurchases are at the discretion of management and subject to market conditions. No specific risk factors or contingencies were detailed in this summary text.
Investor Verification Checklist
- Review Exhibit 99.1 (Earnings Press Release) for specific revenue, net income, and earnings per share figures for the quarter ended March 31, 2008.
- Verify the total number of shares outstanding to calculate the total dividend payout obligation.
- Monitor future filings for updates on the remaining 42,487 shares available for repurchase.
- Confirm the payment of the $0.08 dividend on the scheduled date of May 15, 2008.