FIRST COMMUNITY CORP /SC/ 8-K

What Happened

• On May 7, 2026, First Community Corporation (FCCO), the holding company for First Community Bank, filed a Form 8-K (Item 8.01) announcing that its Board approved a plan to repurchase up to $7.5 million of the company’s common stock. The amount represents approximately 3.4% of total shareholders’ equity as of March 31, 2026.
• Repurchases may occur from time to time through May 5, 2027, via open-market purchases and solicited or unsolicited privately negotiated transactions. Management has discretion over timing, amounts and methods, subject to legal and regulatory limits; the company is not obligated to repurchase any shares.

Key Details

• Amount authorized: up to $7.5 million in common stock repurchases.
• Size relative to capital: ~3.4% of shareholders’ equity (as of 3/31/2026).
• Effective period: purchases may be made through May 5, 2027.
• Methods & conditions: open market and private transactions; purchases depend on market price, equity plan issuances, market/economic conditions and regulatory requirements; plan may be suspended or ended at any time.

Why It Matters

• A buyback can reduce shares outstanding and may boost per-share metrics (like EPS) if executed, which can be positive for shareholders.
• The program uses up to $7.5M of capital—investors should weigh this capital deployment against other uses (dividends, lending growth, acquisitions).
• The plan is discretionary and not guaranteed; actual repurchases will depend on market conditions and management decisions.