XML 31 R22.htm IDEA: XBRL DOCUMENT
v3.23.1

Earnings Per Common Share and Share based compensation (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2023
Earnings Per Share [Abstract] |
Schedule of Earning Per Common Share | The following reconciles the numerator and denominator of the basic and diluted earnings per common share computation: (In thousands except average market price and per share data) Schedule of Earning Per Common Share
Earnings Per Common Share and Share based compensation |
|  | Three months ended |
|  | March 31, |
|  | 2023 |  |  | 2022 |
Numerator (Net income available to common shareholders) |  | $ | 3,463 |  |  | $ | 3,489 |
Denominator |  |  |  |  |  |  |  |
Weighted average common shares outstanding for: |  |  |  |  |  |  |  |
Basic shares |  |  | 7,555 |  |  |  | 7,518 |
Dilutive securities: |  |  |  |  |  |  |  |
Deferred compensation |  |  | 32 |  |  |  | 33 |
Restricted stock - Treasury stock method |  |  | 57 |  |  |  | 44 |
Diluted shares |  |  | 7,644 |  |  |  | 7,595 |
Earnings per common share: |  |  |  |  |  |  |  |
Basic |  | $ | 0.46 |  |  | $ | 0.46 |
Diluted |  | $ | 0.45 |  |  |  | 0.46 |
The average market price used in calculating assumed number of shares |  | $ | 20.34 |  |  | $ | 20.99 |
Schedule of Non-Employee Director Deferred Compensation Plan | The table below shows the following information related to First Community Corporation’s Non-Employee Director Deferred Compensation Plan: accumulated share units and accrued liability at March 31, 2023 and December 31, 2022. Schedule of Non-Employee Director Deferred Compensation Plan
|  | March 31, 2023 |  |  | December 31, 2022 |
Non-employee director deferred compensation plan accumulated share units |  |  | 97,126 |  |  |  | 93,488 |
Accrued liability (dollars in thousands)1 |  |  | 1,331 |  |  |  | 1,260 |
1 | Recorded in “Nonvested restricted stock and stock units”
The table below shows related director compensation related to First Community Corporation’s Non-Employee Director Deferred Compensation Plan for the three months ended March 31, 2023 and March 31, 2022
[custom:DisclosureEarningsPerCommonShareAndShareBasedCompensationDetails2Abstract] |
|  | March 31, 2023 |  |  | December 31, 2022 |
Non-employee director deferred compensation plan accumulated share units |  |  | 97,126 |  |  |  | 93,488 |
Accrued liability (dollars in thousands)1 |  |  | 1,331 |  |  |  | 1,260 |
1 | Recorded in “Nonvested restricted stock and stock units”
The table below shows related director compensation related to First Community Corporation’s Non-Employee Director Deferred Compensation Plan for the three months ended March 31, 2023 and March 31, 2022
Earnings Per Common Share and Share based compensation (Details 3) |
|  | For the three months ended |
Dollars in thousands |  | March 31, 2023 |  |  | March 31, 2022 |
Related director compensation expense (dollars in thousands) |  |  | 59 |  |  |  | 153 |
Schedule of Fair Value of Stock Awards Granted | The table below shows stock awards granted during the three months ended March 31, 2023 and March 31, 2022. Schedule of Stock Awards Granted
(In shares/units) |  | Three Months ended March 31, |
Stock based awards |  | 2023 |  |  | 2022 |
Time-based restricted stock units – officer |  |  | 11,738 |  |  |  | 11,738 |
Performance-based restricted stock units – officer1 |  |  | 16,750 |  |  |  | 11,738 |
Restricted stock – officer |  |  | — |  |  |  | — |
Restricted stock – director |  |  | 7,590 |  |  |  | 7,359 |
1 | For 2023, 16,750 units represent the target payout with a maximum payout of 33,500 units. For 2022, 11,738 units represent the target payout with a maximum payout of 17,608 units.
The table below shows the fair value of stock awards granted during the three months ended March 31, 2023 and March 31, 2022. Schedule of Fair Value of Stock Awards Granted
(Dollars in thousands) |  | Three months ended March 31, |
Fair value of stock awards on grant date |  | 20231 |  |  | 2022 |
Time-based restricted stock units – officer |  |  | 255 |  |  |  | 246 |
Performance-based restricted stock units – officer1 |  |  | 340 |  |  |  | 246 |
Restricted stock – officer |  |  | — |  |  |  | — |
Restricted stock – director |  |  | 154 |  |  |  | 154 |
1 | For 2023, $340 thousand represents the target payout with a maximum payout of $680 thousand. For 2022, $246 thousand represents the target payout with a maximum payout of $369 thousand.
Schedule of Fair Value of Stock Awards Granted |
(In shares/units) |  | Three Months ended March 31, |
Stock based awards |  | 2023 |  |  | 2022 |
Time-based restricted stock units – officer |  |  | 11,738 |  |  |  | 11,738 |
Performance-based restricted stock units – officer1 |  |  | 16,750 |  |  |  | 11,738 |
Restricted stock – officer |  |  | — |  |  |  | — |
Restricted stock – director |  |  | 7,590 |  |  |  | 7,359 |
1 | For 2023, 16,750 units represent the target payout with a maximum payout of 33,500 units. For 2022, 11,738 units represent the target payout with a maximum payout of 17,608 units.
The table below shows the fair value of stock awards granted during the three months ended March 31, 2023 and March 31, 2022. Schedule of Fair Value of Stock Awards Granted
(Dollars in thousands) |  | Three months ended March 31, |
Fair value of stock awards on grant date |  | 20231 |  |  | 2022 |
Time-based restricted stock units – officer |  |  | 255 |  |  |  | 246 |
Performance-based restricted stock units – officer1 |  |  | 340 |  |  |  | 246 |
Restricted stock – officer |  |  | — |  |  |  | — |
Restricted stock – director |  |  | 154 |  |  |  | 154 |
1 | For 2023, $340 thousand represents the target payout with a maximum payout of $680 thousand. For 2022, $246 thousand represents the target payout with a maximum payout of $369 thousand.
Schedule of Fair Value of Stock Awards Granted | The table below shows the fair value of stock awards granted during the three months ended March 31, 2023 and March 31, 2022. Schedule of Fair Value of Stock Awards Granted
(Dollars in thousands) |  | Three months ended March 31, |
Fair value of stock awards on grant date |  | 20231 |  |  | 2022 |
Time-based restricted stock units – officer |  |  | 255 |  |  |  | 246 |
Performance-based restricted stock units – officer1 |  |  | 340 |  |  |  | 246 |
Restricted stock – officer |  |  | — |  |  |  | — |
Restricted stock – director |  |  | 154 |  |  |  | 154 |
1 | For 2023, $340 thousand represents the target payout with a maximum payout of $680 thousand. For 2022, $246 thousand represents the target payout with a maximum payout of $369 thousand.
[custom:DisclosureEarningsPerCommonShareAndShareBasedCompensationDetails5Abstract] |
(Dollars in thousands) |  | Three months ended March 31, |
Fair value of stock awards on grant date |  | 20231 |  |  | 2022 |
Time-based restricted stock units – officer |  |  | 255 |  |  |  | 246 |
Performance-based restricted stock units – officer1 |  |  | 340 |  |  |  | 246 |
Restricted stock – officer |  |  | — |  |  |  | — |
Restricted stock – director |  |  | 154 |  |  |  | 154 |
1 | For 2023, $340 thousand represents the target payout with a maximum payout of $680 thousand. For 2022, $246 thousand represents the target payout with a maximum payout of $369 thousand.
Schedule of Compensation Expense Related to Stock Awards Granted Table TextBlock | The table below shows the compensation expense related to stock awards for the three months ended March 31, 2023 and March 31, 2022. Schedule of Compensation Expense Related to Stock Awards Granted Table TextBlock
Earnings Per Common Share and Share based compensation (Details 6) |
(Dollars in thousands) |  | Three months ended March 31, |
Compensation expense related to stock awards |  | 2023 |  |  | 2022 |
Restricted stock and stock units – officer1 |  |  | 150 |  |  |  | 107 |
Restricted stock – director2 |  |  | 28 |  |  |  | 26 |
stock awards granted under the 2021 Plan | The table below shows the 2021 Plan initial reserve at May 19, 2021; stock awards granted under the 2021 Plan from its inception through March 31, 2023; and the 2021 Plan remaining reserve at March 31, 2023.
(In shares / units) |  |  |
First Community Corporation 2021 Omnibus Equity Incentive Plan |  | 2023 |
Initial reserve – May 19, 2021 |  |  | 225,000 |
Shares / units granted |  |  |  |
Time-based restricted stock units – officer |  |  | (24,300 | )
Performance-based restricted stock units – officer1 |  |  | (51,108 | )
Restricted stock – officer |  |  | (2,201 | )
Restricted stock – director |  |  | (22,539 | )
Remaining Reserve-March 31, 2023 |  |  | 124,852 |
1 | Performance-based restricted stock units are initially granted and expensed at target levels; however, they are reserved at maximum levels.
[custom:DisclosureEarningsPerCommonShareAndShareBasedCompensationDetails7Abstract] |
(In shares / units) |  |  |
First Community Corporation 2021 Omnibus Equity Incentive Plan |  | 2023 |
Initial reserve – May 19, 2021 |  |  | 225,000 |
Shares / units granted |  |  |  |
Time-based restricted stock units – officer |  |  | (24,300 | )
Performance-based restricted stock units – officer1 |  |  | (51,108 | )
Restricted stock – officer |  |  | (2,201 | )
Restricted stock – director |  |  | (22,539 | )
Remaining Reserve-March 31, 2023 |  |  | 124,852 |
1 | Performance-based restricted stock units are initially granted and expensed at target levels; however, they are reserved at maximum levels.

X
- References No definition available. + Details
Name: | fcco_DisclosureEarningsPerCommonShareAndShareBasedCompensationDetails2Abstract
Namespace Prefix: | fcco_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | fcco_DisclosureEarningsPerCommonShareAndShareBasedCompensationDetails3Abstract
Namespace Prefix: | fcco_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | fcco_DisclosureEarningsPerCommonShareAndShareBasedCompensationDetails4Abstract
Namespace Prefix: | fcco_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | fcco_DisclosureEarningsPerCommonShareAndShareBasedCompensationDetails5Abstract
Namespace Prefix: | fcco_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | fcco_DisclosureEarningsPerCommonShareAndShareBasedCompensationDetails6Abstract
Namespace Prefix: | fcco_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | fcco_DisclosureEarningsPerCommonShareAndShareBasedCompensationDetails7Abstract
Namespace Prefix: | fcco_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | fcco_DisclosureEarningsPerCommonShareAndShareBasedCompensationDetailsAbstract
Namespace Prefix: | fcco_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | fcco_ScheduleOfCompensationExpenseRelatedToStockAwardsGrantedTableTextBlock
Namespace Prefix: | fcco_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | fcco_ScheduleOfFairValueOfStockAwardsGrantedTableTextBlock
Namespace Prefix: | fcco_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | fcco_ScheduleofStockAwardGrantedTableTextBlock
Namespace Prefix: | fcco_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | fcco_ScheduleofStockAwardsGrantedTableTextBlock
Namespace Prefix: | fcco_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
Name: | us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration