FIRST COMMUNITY CORP current report, Q3 FY2012

Business Context and Reporting Period

Company: First Community Corporation (holding company for First Community Bank)
Filing Type: Form 8-K (Current Report)
Report Date: July 11, 2012
Reporting Period: Second quarter ended June 30, 2012

Key Financial Metrics

The filing references an earnings press release (Exhibit 99.1) for the period ended June 30, 2012, but does not contain specific numerical data within the text of this 8-K.

  • Revenue, Profit, Cash Flow, Margins: Not provided in this filing text.
  • Debt and Liquidity: Not provided in this filing text.
  • Dividend: The Board approved a cash dividend of $0.04 per share on common stock.

Material Changes and Regulatory Status

Regulatory Relief: The Federal Reserve Bank of Richmond notified the company that, effective July 10, 2012, it is no longer subject to the Memorandum of Understanding (MOU) entered into in December 2011. This MOU had previously replaced one from June 2010.

Guidance, Outlook, and Management Commentary

Dividend Announcement: A cash dividend of $0.04 per share is payable on August 3, 2012, to shareholders of record as of July 20, 2012.

Outlook: No specific forward-looking guidance or management commentary regarding future performance is included in this filing text.

Investor Verification Checklist

  • Review Exhibit 99.1 (Earnings Press Release) for specific revenue, net income, and asset quality metrics for the quarter ended June 30, 2012.
  • Confirm the removal of the Federal Reserve MOU and assess any remaining regulatory restrictions.
  • Verify the dividend payment date (August 3, 2012) and record date (July 20, 2012) for shareholder eligibility.