UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM 11-K
FOR ANNUAL REPORTS
OF EMPLOYEE STOCK
PURCHASE, SAVINGS
AND SIMILAR PLANS
PURSUANT TO SECTION 15(d)
OF THE
SECURITIES EXCHANGE
ACT OF 1934
| x |
ANNUAL REPORT PURSUANT TO SECTION 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934 |
FOR THE FISCAL YEAR ENDED
DECEMBER 31, 2022
OR
| o |
TRANSITION REPORT PURSUANT TO SECTION 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934 |
Commission
file number 000-28344
| A. |
Full title of the plan and the address of the
plan, if different from that of the issuer named below: |
First Community Bank
401(k) Plan
| B. |
Name
of issuer of the securities held pursuant to the plan and the address of its principal executive
office:
First Community
Corporation
5455 Sunset Blvd
Lexington,
South Carolina 29072 |
REQUIRED INFORMATION
The following financial
statements and supplemental schedule for the First Community Bank 401(k) Plan are being filed herewith:
Audited Financial Statements:
Report of Independent Registered
Public Accounting Firm – Elliott Davis, LLC
Statements of Net Assets Available
for Benefits as of December 31, 2022 and 2021
Statement of Changes in Net Assets
Available for Benefits for the Year Ended December 31, 2022
Notes to Financial Statements
for the Year Ended December 31, 2022
Supplemental Schedule:
Schedule of Assets Held
– December 31, 2022
The following exhibit is being filed
herewith:
First Community Bank
401(k) Plan
Report on Financial
Statements
First Community
Bank 401(k) Plan
Contents
Report of Independent
Registered Public Accounting Firm
To the Trustees, Plan
Administrator, and Plan Participants of
First Community Bank
401(k) Plan
Opinion on the Financial
Statements
We have audited the
accompanying statements of net assets available for benefits of First Community Bank 401(k) Plan (the Plan) as of December 31, 2022 and
2021, the related statement of changes in net assets available for benefits for the year ended December 31, 2022, and the related notes
to the financial statements (collectively, the financial statements). In our opinion, the financial statements present fairly, in all
material respects, the net assets available for benefits of the Plan as of December 31, 2022 and 2021, and the changes in net assets
available for benefits for the year ended December 31, 2022, in conformity with accounting principles generally accepted in the United
States of America.
Basis for Opinion
These financial statements
are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements
based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB)
and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules
and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits
in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance
about whether the financial statements are free of material misstatement, whether due to error or fraud.
Our audits included
performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing
procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures
in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management,
as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for
our opinion.
Report on Supplemental
Information
The supplemental
information in the accompanying Schedule H, Line 4i, Schedule of Assets (Held at End of Year) as of December 31, 2022, has been subjected
to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental information is
presented for the purpose of additional analysis and is not a required part of the financial statements but includes supplemental information
required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security
Act of 1974. The supplemental information is the responsibility of the Plan’s management. Our audit procedures included determining
whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable,
and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming
our opinion on the supplemental information in the accompanying schedule, we evaluated whether the supplemental information, including
its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure
under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information in the accompanying schedule
is fairly stated in all material respects in relation to the basic financial statements as a whole.
/s/ Elliott
Davis, LLC
We have served
as the Plan’s auditor since 2006.
Greenville, South Carolina
June
23, 2023
First Community
Bank 401(k) Plan
Statements of Net Assets Available
for Benefits
As
of December 31, 2022 and 2021
| | |
2022 | | |
2021 | |
| Assets | |
| | | |
| | |
| Investments at fair value (see Note 4) | |
$ | 23,792,180 | | |
$ | 27,312,947 | |
| Receivables | |
| | | |
| | |
| Employer contributions | |
| 352,627 | | |
| 324,305 | |
| Employee contributions | |
| 38,466 | | |
| 9,168 | |
| Notes receivable from participants | |
| 273,811 | | |
| 376,338 | |
| Total receivables | |
| 664,904 | | |
| 709,811 | |
| | |
| | | |
| | |
| Total assets | |
| 24,457,084 | | |
| 28,022,758 | |
| | |
| | | |
| | |
| Liabilities | |
| — | | |
| — | |
| Net assets available for benefits | |
$ | 24,457,084 | | |
$ | 28,022,758 | |
See Notes to Financial Statements
First Community
Bank 401(k) Plan
Statement of Changes in Net Assets
Available for Benefits
For
the year ended December 31, 2022
| Additions: | |
| |
| Investment income (loss) | |
| | |
| Net depreciation in fair value of investments | |
$ | (4,881,513 | ) |
| Interest and dividends | |
| 682,467 | |
| Total investment loss | |
| (4,199,046 | ) |
| | |
| | |
| Contributions | |
| | |
| Employer contributions | |
| 950,832 | |
| Employee contributions | |
| 1,315,037 | |
| Total contributions | |
| 2,265,869 | |
| | |
| | |
| Interest income on notes receivable from participants | |
| 13,952 | |
| Total investment loss and other additions | |
| (1,919,225 | ) |
| | |
| | |
| Deductions: | |
| | |
| Administrative expenses | |
| 77,035 | |
| Distributions paid to participants | |
| 1,569,414 | |
| Total deductions | |
| 1,646,449 | |
| | |
| | |
| Net decrease | |
| (3,565,674 | ) |
| | |
| | |
| Net assets available for benefits, beginning of year | |
| 28,022,758 | |
| Net assets available for benefits, end of year | |
$ | 24,457,084 | |
See Notes to Financial Statements
First Community
Bank 401(k) Plan
Notes to Financial Statements
December
31, 2022 and 2021
Note 1. Description
of the Plan
The following description
of First Community Bank (the “Bank”) 401(k) Plan (the “Plan”) provides only general information. The Bank is
a subsidiary of First Community Corporation (the “Company”). The Plan is currently sponsored and maintained by the Bank.
Participants should refer to the Plan agreement for a more complete description of the Plan’s provisions.
General:
The Plan is a defined
contribution plan covering all employees of the Bank who have completed at least three months of service and are age eighteen or older.
The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (“ERISA”).
Contributions:
Each year, participants
may elect to defer a portion of their eligible compensation, as defined by the Plan. Participants who have attained the age of fifty
before the end of the plan year are eligible to make catch-up contributions. Participants may also contribute amounts representing distributions
from other qualified benefit or defined contribution plans. Participants direct the investment of their contributions into various investment
options offered by the Plan. The Bank makes a matching contribution equal to 100% of employee contributions which do not exceed 3% of
compensation, plus 50% of employee contributions which exceed 3% but do not exceed 5% of compensation. Additional profit-sharing amounts
may be contributed at the option of the Bank’s board of directors to each eligible participant equal to a uniform percentage of
each participant’s compensation. Eligible participants are defined as those having one year of service and employed as of year-end.
The exact percentage, if any, will be determined by the Bank. During the year ended December 31, 2022, the Bank made $334,557 in additional
profit-sharing contributions. Contributions are subject to certain Internal Revenue Service (“IRS”) limitations.
Participant accounts:
Each participant’s
account is credited with the participant’s contributions, Bank contributions and Plan earnings (loss). Participant accounts are
charged with an allocation of administrative expenses that are paid by the Plan. Allocations are based on participant earnings, account
balances, or specific participant transactions, as defined. The benefit to which a participant is entitled is the benefit that can be
provided from the participant’s vested account.
Vesting:
Participants are immediately
vested in their contributions and in the employer safe harbor matching contributions, plus actual earnings thereon. Vesting in the Bank’s
discretionary contribution portion of their accounts is based on years of continuous service. A participant is 100% vested after six
years of credited service.
First Community
Bank 401(k) Plan
Notes to Financial Statements
December
31, 2022 and 2021
Note 1. Description
of the Plan, Continued
Notes receivable
from participants:
Participants may borrow
from their accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their vested account balance. The $50,000
maximum amount will be reduced by the participant’s highest outstanding note balance in the previous 12 months, even if amounts
have been repaid. The notes are secured by the balance in the participant’s account. The interest rate is the prime interest rate
as set by the Wall Street Journal plus 1%, or such other rate as determined by the Plan Administrator on the basis of relevant factors
including but not limited to the rates charged by local banks for notes of similar duration and security level. The rate of interest
will be constant throughout the term of the note. All notes are required to be repaid within five years of the original date of the note.
If a participant notifies the Plan Administrator in writing that the entire proceeds of the note was used to acquire a dwelling unit
that will, within a reasonable time, be used as the principal residence of the participant, the note will be required to be repaid within
15 years of the original date of the note. Notes are to be repaid on the basis of substantially level amortization over the term of the
note with payments made through salary reduction each pay period, if available. All or any part of the outstanding balance of a note
can be repaid at any time without penalty.
Payment of benefits:
Upon termination of
service, a participant may elect to receive a lump-sum amount equal to the value of the participant’s vested interest in his or
her account, less any notes receivable outstanding. Hardship distributions are permitted upon demonstration of financial hardship. All
fully vested balances are available for distribution after the participant reaches the age of 59½.
Forfeited accounts:
At December 31, 2022
and 2021, forfeited accounts totaled $5,351 and $5,237, respectively. Forfeitures may be used to reduce the Bank’s future contributions
to the Plan as well as payment of administrative expenses. In 2022, administrative expenses were reduced by $30,815 from forfeited accounts.
Note 2. Summary
of Significant Accounting Policies and Activities
Basis of accounting:
The financial statements
of the Plan are prepared on the accrual basis of accounting.
Investment valuation
and income recognition:
Investments are reported
at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction
between market participants at the measurement date. The Plan Administrative Committee determines the Plan’s valuation policies
utilizing information provided by investment advisors. See Note 4 for discussion of fair value measurements.
First Community
Bank 401(k) Plan
Notes to Financial Statements
December
31, 2022 and 2021
Note 2. Summary
of Significant Accounting Policies and Activities, Continued
Investment valuation
and income recognition, continued:
Purchases and sales
of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend
date. Net depreciation includes the Plan’s gains and losses on investments bought and sold as well as held during the year.
Use of estimates:
The preparation of
financial statements in conformity with accounting principles generally accepted in the United States of America requires management
to make estimates and assumptions that affect the reported amounts of assets and liabilities and changes therein, and disclosure of contingent
assets and liabilities. Actual results could differ from those estimates.
Concentration
of credit risk:
At December 31, 2022
and 2021, investments in First Community Corporation Unitized Stock Fund comprised 13% and 12% of the Plan’s assets, respectively.
At December 31, 2022 and 2021, the unitized common stock fund was valued at $3,077,680 and $3,338,693, respectively. At December 31,
2022 and 2021, the actual number of shares of the Company’s common stock in the unitized stock fund held by the Plan was 133,377
and 154,684 shares, respectively.
Notes receivable
from participants:
Notes receivable from
participants are measured at their unpaid principal balance plus any accrued but unpaid interest. Interest income is recorded on the
accrual basis. Related fees are recorded as administrative expenses and are expensed when they are incurred. No allowance for credit
losses has been recorded as of December 31, 2022 or 2021. If a participant ceases to make loan repayments and the Plan Administrator
deems the participant loan to be in default, the participant loan balance is reduced, and a benefit payment is recorded.
Payment of benefits:
Benefits are recorded
when paid.
Expenses:
Certain expenses of
maintaining the Plan are paid directly by the Bank and are excluded from these financial statements. Fees related to the administration
of notes receivable from participants and other distributions to participants are charged directly to the participant’s account
and are included in administrative expenses. Investment related expenses are included in net depreciation in fair value of investments.
First Community
Bank 401(k) Plan
Notes to Financial Statements
December
31, 2022 and 2021
Note 3. Plan
Termination
Although it has not
expressed any intent to do so, the Bank has the right under the Plan to discontinue its contributions at any time and to terminate the
Plan subject to the provisions of ERISA. In the event of Plan termination, participants would become 100% vested in their employer contributions.
Note 4. Fair
Value Measurements
The framework for measuring
fair value provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy
gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest
priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described as follows:
| |
Level 1: |
Inputs to the valuation methodology
are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access. |
| |
Level 2: |
Inputs to the valuation methodology
include: |
| |
· |
Quoted
prices for similar assets or liabilities in active markets; |
| |
· |
Quoted
prices for identical or similar assets or liabilities in inactive markets; |
| |
· |
Inputs
other than quoted prices that are observable for the asset or liability; |
| |
· |
Inputs
that are derived principally from or corroborated by observable market data by correlation or other means. |
If the asset
or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or
liability.
| |
Level 3: |
Inputs to the valuation methodology
are unobservable and significant to the fair value measurement. |
The asset’s or
liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant
to the fair value measurement. Valuation techniques used need to maximize the use of relevant observable inputs and minimize the use
of unobservable inputs.
The following
is a description of the valuation methodologies used for assets measured at fair value. There have been no changes in the methodologies
used at December 31, 2022 and 2021.
Mutual
funds: Valued at the daily closing price as reported by the fund. Mutual funds held by the Plan are open-end mutual funds that
are registered with the U.S. Securities and Exchange Commission. These funds are required to publish their daily Net Asset Value (“NAV”)
and to transact at that price. The mutual funds held by the Plan are deemed to be actively traded.
First Community
Bank 401(k) Plan
Notes to Financial Statements
December
31, 2022 and 2021
Note 4. Fair
Value Measurements, Continued
Collective
trust fund: Valued at NAV. The NAV, as provided by the trustee, is used as a practical expedient to estimate fair value. The
NAV is based on the fair value of the underlying investments held by the fund less its liabilities. This practical expedient is not used
when it is determined to be probable that the fund will sell the investment for an amount different than the reported NAV. Participant
transactions (purchases and sales) may occur daily. Were the Plan to initiate a full redemption of the collective trust, the investment
adviser reserves the right to temporarily delay withdrawal from the trust in order to ensure that securities liquidations will be carried
out in an orderly business manner.
First
Community Corporation Unitized Stock Fund: Valued at the closing price of First Community Corporation’s common stock reported
on the active market on which the individual securities are traded plus the carrying value of the cash component of the fund, which approximates
fair value.
The following tables
set forth by level, within the fair value hierarchy, the Plan’s fair value measurements as of December 31, 2022 and 2021:
| | |
December 31, 2022 | |
| | |
Level 1 | | |
Level 2 | | |
Level 3 | | |
Total | |
| Mutual funds | |
$ | 20,342,950 | | |
$ | — | | |
$ | — | | |
$ | 20,342,950 | |
| First Community Corporation Unitized Stock Fund | |
| 3,077,680 | | |
| — | | |
| — | | |
| 3,077,680 | |
| Total assets in the fair value hierarchy | |
$ | 23,420,630 | | |
$ | — | | |
$ | — | | |
$ | 23,420,630 | |
| Investments measured at NAV(a) | |
| | | |
| | | |
| | | |
| 371,550 | |
| Investments at fair value | |
| | | |
| | | |
| | | |
$ | 23,792,180 | |
| | |
December 31, 2021 | |
| | |
Level 1 | | |
Level 2 | | |
Level 3 | | |
Total | |
| Mutual funds | |
$ | 23,377,461 | | |
$ | — | | |
$ | — | | |
$ | 23,377,461 | |
| First Community Corporation Unitized Stock Fund | |
| 3,338,693 | | |
| — | | |
| — | | |
| 3,338,693 | |
| Total assets in the fair value hierarchy | |
$ | 26,716,154 | | |
$ | — | | |
$ | — | | |
$ | 26,716,154 | |
| Investments measured at NAV(a) | |
| | | |
| | | |
| | | |
| 596,793 | |
| Investments at fair value | |
| | | |
| | | |
| | | |
$ | 27,312,947 | |
| (a) |
Certain investments that
were measured at NAV per share or its equivalent have not been classified in the fair value hierarchy. The fair value amounts presented
in this table are intended to permit reconciliation of the fair value hierarchy to the line items presented in the statements of
net assets available for benefits. |
First Community
Bank 401(k) Plan
Notes to Financial Statements
December
31, 2022 and 2021
Note 4. Fair
Value Measurements, Continued
The following table
for December 31, 2022 and 2021 sets forth a summary of the Plan’s assets reported at NAV as a practical expedient to estimate fair
value:
| | |
December 31, 2022 | |
| Investment | |
Fair value | | |
Unfunded
commitment | | |
Redemption
frequency | | |
Redemption
notice period | |
| | |
| | | |
| | | |
| | | |
| | |
| Collective trust fund | |
$ | 371,550 | | |
$ | — | | |
| Daily | | |
| (b) | |
| | |
December 31, 2021 | |
| Investment | |
Fair value | | |
Unfunded
commitment | | |
Redemption
frequency | | |
Redemption
notice period | |
| | |
| | | |
| | | |
| | | |
| | |
| Collective trust fund | |
$ | 596,793 | | |
$ | — | | |
| Daily | | |
| (b) | |
| (b) |
Participants may redeem units
of the Fund for the purpose of funding a bona fide benefit payment, making a participant loan, honoring an employee-directed transfer
of the employee’s interest in the plan to another investment election that is a noncompeting investment, or paying Trustee
fees. Participants may make withdrawals from the Fund for other purposes generally only upon 12 months’ advance written notice
to the Trustee. |
Note 5. Tax
Status
Effective December
15, 2020, the Plan adopted a non-standardized pre-approved plan sponsored by Ascensus, LLC, the plan provider. The plan provider has
received an opinion letter from the Internal Revenue Service as to the pre-approved plan’s qualified status. The pre-approved plan’s
letter has been relied upon by this Plan. The Bank and the Plan Administrator believe that the Plan is designed and is currently being
operated in compliance with the applicable requirements of the Internal Revenue Code.
Accounting principles
generally accepted in the United States of America require plan management to evaluate tax positions taken by the plan and recognize
a tax liability if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the
internal revenue service. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any
tax periods in progress.
Note 6. Related-Party
and Party in Interest Transactions
Certain Plan assets
are invested in a fund that includes the Company’s common stock as described in Note 2. These investments are considered party
in interest transactions. Fees incurred by the Plan for investment management services are included in net depreciation in fair value
of investments, as they are paid through revenue sharing, rather than a direct payment. As described in Note 2, the Plan made direct
payments to the third-party administrator of $77,035 which were not covered by revenue sharing. The Bank pays directly any other fees
related to the Plan’s operations.
First Community
Bank 401(k) Plan
Notes to Financial Statements
December
31, 2022 and 2021
Note 7. Risks
and Uncertainties
The Plan invests in
various investment securities. Investment securities are exposed to various risks such as interest rate, market, and credit risks. Due
to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of
investment securities will occur in the near term and that such changes could materially affect participants’ account balances
and the amounts reported in the 2022 Statement of Net Assets Available for Benefits.
Note 8. Subsequent
Events
The Plan has evaluated,
for consideration of recognition or disclosure, subsequent events that have occurred through the date of issuance, June 23, 2023, and
has determined that no significant events occurred after December 31, 2022, but prior to the issuance of these financial statements,
that would have a material impact on its financial statements.
First Community
Bank 401(k) Plan
EIN 57-1030051, Plan No. 001
Schedule H, Line 4i - Schedule of
Assets (Held at End of Year)
| (a) |
(b) |
|
|
(c) |
|
|
|
|
|
|
|
|
|
Identity
of party
involved |
Identity of issuer,
borrower, lessor,
or similar party |
|
|
Description of investment including
maturity date, rate of interest,
collateral, par or maturity value |
|
|
|
(d)
Cost |
|
|
|
(e)
Current
value |
|
| Investments: |
|
|
|
|
|
|
|
|
|
|
|
|
| |
Vanguard 500 Index Adm |
|
|
Mutual Fund |
|
|
|
** |
|
|
$ |
1,752,584 |
|
| |
JPMorgan Mid Cap Growth R6 |
|
|
Mutual Fund |
|
|
|
** |
|
|
|
789,619 |
|
| |
Vanguard Mid Cap Index Adm |
|
|
Mutual Fund |
|
|
|
** |
|
|
|
853,917 |
|
| |
Columbia Dividend Income I3 |
|
|
Mutual Fund |
|
|
|
** |
|
|
|
492,233 |
|
| |
Vanguard Small-Cap Index Adm |
|
|
Mutual Fund |
|
|
|
** |
|
|
|
965,643 |
|
| |
Vanguard Wellington Admiral |
|
|
Mutual Fund |
|
|
|
** |
|
|
|
335,409 |
|
| |
Vanguard Wellesley Income Adm |
|
|
Mutual Fund |
|
|
|
** |
|
|
|
92,346 |
|
| |
T. Rowe Price All-Cap Opport I |
|
|
Mutual Fund |
|
|
|
** |
|
|
|
5,093,815 |
|
| |
Vanguard Real Estate Index Adm |
|
|
Mutual Fund |
|
|
|
** |
|
|
|
48,279 |
|
| |
American Funds EuroPacific Gr R5 |
|
|
Mutual Fund |
|
|
|
** |
|
|
|
205,751 |
|
| |
Metropolitan West Total Return I |
|
|
Mutual Fund |
|
|
|
** |
|
|
|
53,100 |
|
| |
Vanguard Developed Mkts Index Adm |
|
|
Mutual Fund |
|
|
|
** |
|
|
|
90,430 |
|
| |
Vanguard Total Intl Bond Index Adm |
|
|
Mutual Fund |
|
|
|
** |
|
|
|
53,195 |
|
| |
Vanguard Target Retirement 2020 |
|
|
Mutual Fund |
|
|
|
** |
|
|
|
196,653 |
|
| |
Vanguard Target Retirement 2025 |
|
|
Mutual Fund |
|
|
|
** |
|
|
|
3,089,085 |
|
| |
Vanguard Target Retirement 2030 |
|
|
Mutual Fund |
|
|
|
** |
|
|
|
1,018,856 |
|
| |
Vanguard Target Retirement 2035 |
|
|
Mutual Fund |
|
|
|
** |
|
|
|
2,139,710 |
|
| |
Vanguard Target Retirement 2040 |
|
|
Mutual Fund |
|
|
|
** |
|
|
|
509,865 |
|
| |
Vanguard Target Retirement 2045 |
|
|
Mutual Fund |
|
|
|
** |
|
|
|
955,603 |
|
| |
Vanguard Target Retirement 2050 |
|
|
Mutual Fund |
|
|
|
** |
|
|
|
256,757 |
|
| |
Vanguard Target Retirement 2055 |
|
|
Mutual Fund |
|
|
|
** |
|
|
|
601,192 |
|
| |
Vanguard Target Retirement 2060 |
|
|
Mutual Fund |
|
|
|
** |
|
|
|
76,535 |
|
| |
Vanguard Target Retirement 2065 |
|
|
Mutual Fund |
|
|
|
** |
|
|
|
28,004 |
|
| |
Vanguard Total Bond Market Index Adm |
|
|
Mutual Fund |
|
|
|
** |
|
|
|
24,573 |
|
| |
T. Rowe Price QM US Sm Cap Growth Eqty |
|
|
Mutual Fund |
|
|
|
** |
|
|
|
368,230 |
|
| |
Vanguard Target Retirement Income Fund |
|
|
Mutual Fund |
|
|
|
** |
|
|
|
251,566 |
|
| |
Federated Hermes Preservation Fund I |
|
|
Collective Trust Fund |
|
|
|
** |
|
|
|
371,550 |
|
| * |
First Community Corporation |
|
|
Unitized Stock Fund |
|
|
|
** |
|
|
|
3,077,680 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Notes Receivable: |
|
|
|
|
|
|
|
|
|
|
|
|
| * |
Notes Receivable from participants |
|
|
Notes (4.25% - 8.50%) |
|
|
|
** |
|
|
|
273,811 |
|
| |
|
|
|
|
|
|
|
|
|
|
$ |
24,065,991 |
|
| * |
Indicates a party in interest |
| ** |
Cost information omitted
due to participant-directed plan |
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this
annual report to be signed on its behalf by the undersigned hereunto duly authorized.
| |
FIRST COMMUNITY BANK 401(k) PLAN |
| |
By FIRST COMMUNITY BANK, Trustee |
| |
|
|
|
| Date: June 23, 2023 |
By: |
/s/ D. Shawn Jordan |
|
| |
Printed Name: D. Shawn Jordan |
| |
Title: Chief Financial Officer |
First Community (NASDAQ:FCCO)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
First Community (NASDAQ:FCCO)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024
