XML 78 R52.htm IDEA: XBRL DOCUMENT
v3.20.1

PARENT COMPANY FINANCIAL INFORMATION (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract] |
Schedule of balance sheets for First Community Corporation (Parent Only) | The balance sheets, statements of operations and cash flows for First Community Corporation (Parent Only) follow: Condensed Balance Sheets
|  | At December 31, |
(Dollars in thousands) |  | 2019 |  |  | 2018 |
Assets: |  |  |  |  |  |  |  |
Cash on deposit |  | $ | 2,987 |  |  | $ | 4,811 |
Interest bearing deposits |  |  | — |  |  |  | — |
Securities purchased under agreement to resell |  |  | — |  |  |  | — |
Investment in bank subsidiary |  |  | 131,584 |  |  |  | 121,984 |
Other |  |  | 809 |  |  |  | 863 |
Total assets |  | $ | 135,380 |  |  | $ | 127,658 |
Liabilities: |  |  |  |  |  |  |  |
Junior subordinated debentures |  | $ | 14,964 |  |  | $ | 14,964 |
Other |  |  | 222 |  |  |  | 197 |
Total liabilities |  |  | 15,186 |  |  |  | 15,161 |
Shareholders’ equity |  |  | 120,194 |  |  |  | 112,497 |
Total liabilities and shareholders’ equity |  | $ | 135,380 |  |  | $ | 127,658 |
Schedule of statements of operations for First Community Corporation (Parent Only) | Condensed Statements of Operations
|  | Year ended December 31, |
(Dollars in thousands) |  | 2019 |  |  | 2018 |  |  | 2017 |
Income: |  |  |  |  |  |  |  |  |  |  |  |
Interest and dividend income |  | $ | 24 |  |  | $ | 23 |  |  | $ | 18 |
Gain on sale of land |  |  | — |  |  |  | — |  |  |  | 90 |
Equity in undistributed earnings of subsidiary |  |  | 4,776 |  |  |  | 8,348 |  |  |  | 3,341 |
Dividend income from bank subsidiary |  |  | 7,057 |  |  |  | 3,721 |  |  |  | 3,001 |
Total income |  |  | 11,857 |  |  |  | 12,092 |  |  |  | 6,450 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | 760 |  |  |  | 718 |  |  |  | 570 |
Other |  |  | 381 |  |  |  | 386 |  |  |  | 350 |
Total expense |  |  | 1,141 |  |  |  | 1,104 |  |  |  | 920 |
Income before taxes |  |  | 10,716 |  |  |  | 10,988 |  |  |  | 5,530 |
Income tax benefit |  |  | (255 | ) |  |  | (241 | ) |  |  | (285 | )
Net income |  | $ | 10,971 |  |  | $ | 11,229 |  |  | $ | 5,815 |
Schedule of cash flows for First Community Corporation (Parent Only) | Condensed Statements of Cash Flows
|  | Year ended December 31, |
(Dollars in thousands) |  | 2019 |  |  | 2018 |  |  | 2017 |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 10,971 |  |  | $ | 11,229 |  |  | $ | 5,815 |
Adjustments to reconcile net income to net cash provided by operating activities |  |  |  |  |  |  |  |  |  |  |  |
Equity in undistributed earnings of subsidiary |  |  | (4,776 | ) |  |  | (8,348 | ) |  |  | (3,341 | )
Gain on sales of assets |  |  | — |  |  |  | — |  |  |  | (90 |
Other-net |  |  | 322 |  |  |  | 12 |  |  |  | 615 |
Net cash provided by operating activities |  |  | 6,517 |  |  |  | 2,893 |  |  |  | 2,999 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from sale of federal funds |  |  | — |  |  |  | 129 |  |  |  | — |
Proceeds from business acquisition |  |  | — |  |  |  | — |  |  |  | 131 |
Proceeds from sale of land |  |  | — |  |  |  | — |  |  |  | 1,145 |
Net cash provided by investing activities |  |  | — |  |  |  | 129 |  |  |  | 1,276 |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |
Dividends paid: common stock |  |  | (3,306 | ) |  |  | (3,033 | ) |  |  | (2,472 | )
Repurchase of common stock |  |  | (5,636 | ) |  |  | — |  |  |  | — |
Proceeds from issuance of common stock |  |  | 570 |  |  |  | 362 |  |  |  | 371 |
Issuance of restricted stock |  |  | (75 | ) |  |  | — |  |  |  | — |
Restricted shares surrendered |  |  | (159 | ) |  |  | (57 | ) |  |  | (408 | )
Deferred compensation shares |  |  | 265 |  |  |  | 19 |  |  |  | — |
Net cash used in financing activities |  |  | (8,341 | ) |  |  | (2,709 | ) |  |  | (2,509 | )
Increase (decrease) in cash and cash equivalents |  |  | (1,824 | ) |  |  | 313 |  |  |  | 1,766 |
Cash and cash equivalents, beginning of year |  |  | 4,811 |  |  |  | 4,498 |  |  |  | 2,732 |
Cash and cash equivalents, end of year |  | $ | 2,987 |  |  | $ | 4,811 |  |  | $ | 4,498 |

X
- References No definition available. + Details
Name: | srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | srt_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration