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MERGERS AND ACQUISITIONS (Tables) | 12 Months Ended
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Dec. 31, 2020
Business Combinations [Abstract] |
The following table presents the assets acquired and liabilities assumed as of October 20, 2017 as recorded by the Company on the acquisition date and initial fair value adjustments. | The following table presents the assets acquired and liabilities assumed as of October 20, 2017 as recorded by the Company on the acquisition date and initial fair value adjustments.
MERGERS AND ACQUISITIONS |
(Dollars in thousands, except per share data) |  | As Recorded by Cornerstone |  |  | Fair Value Adjustments |  |  | As Recorded by the Company |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 30,060 |  |  | $ | — |  |  | $ | 30,060 |
Investment securities |  |  | 44,018 |  |  |  | (358 | )(a) |  |  | 43,660 |
Loans |  |  | 60,835 |  |  |  | (734 | )(b) |  |  | 60,101 |
Premises and equipment |  |  | 4,164 |  |  |  | 573 | (c) |  |  | 4,737 |
Intangible assets |  |  | — |  |  |  | 1,810 | (d) |  |  | 1,810 |
Bank owned life insurance |  |  | 2,384 |  |  |  | — |  |  |  | 2,384 |
Other assets |  |  | 3,082 |  |  |  | (452 | )(e) |  |  | 2,630 |
Total assets |  | $ | 144,543 |  |  | $ | 839 |  |  | $ | 145,382 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Deposits: |  |  |  |  |  |  |  |  |  |  |  |
Non-interest bearing |  | $ | 27,296 |  |  | $ | — |  |  | $ | 27,296 |
Interest-bearing |  |  | 99,152 |  |  |  | 150 | (f) |  |  | 99,302 |
Total deposits |  |  | 126,448 |  |  |  | 150 |  |  |  | 126,598 |
Securities sold under agreements to repurchase |  |  | 849 |  |  |  | — |  |  |  | 849 |
Other liabilities |  |  | 320 |  |  |  | 96 | (g) |  |  | 416 |
Total liabilities |  |  | 127,617 |  |  |  | 246 |  |  |  | 127,863 |
Net identifiable assets acquired over liabilities assumed |  |  | 16,926 |  |  |  | 593 |  |  |  | 17,519 |
Goodwill |  |  | — |  |  |  | 9,558 |  |  |  | 9,558 |
Net assets acquired over liabilities assumed |  | $ | 16,926 |  |  | $ | 10,151 |  |  | $ | 27,077 |
Consideration: |  |  |  |  |  |  |  |  |  |  |  |
First Community Corporation common shares issued |  |  | 877,364 |  |  |  |  |  |  |  |  |
Purchase price per share of the Company’s common stock |  | $ | 22.05 |  |  |  |  |  |  |  |  |
|  | $ | 19,346 |  |  |  |  |  |  |  |  |
Cash exchanged for stock and fractional shares |  |  | 7,731 |  |  |  |  |  |  |  |  |
Fair value of total consideration transferred |  | $ | 27,077 |  |  |  |  |  |  |  |  |
Business Acquisition, Pro Forma Information [Table Text Block] |
MERGERS AND ACQUISITIONS (Details 2) |
(Dollars in thousands) |  | Pro Forma Twelve Months Ended December 31, 2017 |  |  | Pro Forma Twelve Months Ended December 31, 2016 |
Total revenues (net interest income plus noninterest income) |  | $ | 43,602 |  |  | $ | 41,300 |
Net income |  | $ | 6,791 |  |  | $ | 7,750 |

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