Bailout Bank Bio: First Community Corporation

May 18, 2009 | 2 min read | Print Article

First Community Corporation serves as the bank holding company for its wholly owned subsidiary First Community Bank, N.A (the Bank). The Bank is engaged in commercial and retail banking business primarily in Richland, Lexington and Newberry counties of South Carolina and the surrounding areas. Other Bank services include Internet banking, cash management services, safe deposit boxes, traveler's checks, direct deposit of payroll and social security checks, and automatic drafts for various accounts. The Bank engages in a commercial banking business from its main office in Lexington, South Carolina and its 11 full-service offices are located in Lexington (two), Forest Acres, Irmo, Cayce-West Columbia, Gilbert, Chapin, Northeast Columbia, Prosperity, Newberry and Camden. The company was founded in 1994.

In November the company announced that it was participating in the Treasury Department’s Capital Purchase Program. Under the program the company received $11.4 million in exchange for preferred stock.

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Bailout Bank Bio: First Community Corporation


Federal Equity Investment	$11.4 million
Total Revenue	$38 million (2008) $36 million (2007)
Net Income	-$6.8 million (2008) $4.0 million (2007)
Number of Employees	138
Corporate Headquarters	Lexington, South Carolina
Business Sector	Bank
Officers and Directors	Crapps, Michael, President, Chief Executive Officer, Director Leventis, James, Chairman of the Board Other Officers and Directors
Corporate Website	https://www.firstcommunitysc.com
Executive Compensation	First Community Corporation