UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
WASHINGTON, DC 20549
_________________
FORM S-8
REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OF 1933
_________________
FIRST COMMUNITY
CORPORATION
(Exact name of
registrant as specified in its charter)
South Carolina |
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57-1010751 |
(State of other jurisdiction of |
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(I.R.S. Employer |
incorporation or organization) |
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Identification No.) |
5455 Sunset Boulevard
Lexington, South Carolina 29072
(Address of Principal Executive Offices)
First Community
Corporation / DutchFork Bancshares, Inc. Stock Incentive Plan
(Full title of the plan)
Michael C. Crapps
President
5455 Sunset Boulevard
Lexington, South Carolina 29072
803-951-2265
(Name and address of
agent for service)
_________________________________
Copies Requested to:
Neil E. Grayson, Esq.Nelson
Mullins Riley & Scarborough LLP
Poinsett Plaza, Suite 900
104 South Main Street
Greenville, South Carolina 29601
Telephone: (864) 250-2300
Fax: (864) 232-2925
_________________________________
CALCULATION OF
REGISTRATION FEE
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Title of securities |
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Amount to be |
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Proposed maximum |
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Proposed maximum |
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Amount of |
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to be registered | | |
registered | | |
offering price | | |
aggregate offering | | |
registration fee | | |
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Common Stock | | |
180,685 (1) | | |
$ 9.23 (2) | | |
$ 1,667,723 (2) | | |
$ 212 | | |
(1) |
Represents shares of common stock issuable under the First Community Corporation
/ DutchFork Bancshares, Inc. Stock Incentive Plan, which was assumed by the
registrant in connection with its acquisition of DutchFork Bancshares, Inc. |
(2) |
In accordance with Rule 457(h), the registration fee is based upon the exercise
price. |
PART II
INFORMATION REQUIRED IN
THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The
following documents filed by us with the SEC are incorporated by reference into this
registration statement, and all documents subsequently filed by us pursuant to Sections
13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934 shall be incorporated by
reference in this registration statement and shall be a part of this registration
statement from the date of filing of the documents:
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(a) |
our Annual Report on Form 10-KSB for the year ended December 31, 2003; |
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(b) |
our Quarterly Reports on Form 10-QSB for the fiscal quarters ended March 31,
2004 and June 30, 2004; |
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(c) |
our Current Reports on Form 8-K filed on January 22, 2004, April 13, 2004, April
22, 2004, July 22, 2004, September 3, 2004, and October 6, 2004; and |
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(d) |
our description of securities included in our registration statement on Form
S-4/A filed on July 8, 2004. |
Item 4. Description of
Securities.
No
response required to this item.
Item 5. Interests of Named Experts and Counsel.
No response
required to this item.
Item 6. Indemnification of Directors and Officers.
The
articles of incorporation of First Community contain a conditional provision which,
subject to certain exceptions described below, eliminates the liability of a director to
the company or its shareholders for monetary damages for breach of the duty of care or any
other duty as a director. This provision does not eliminate such liability to the extent
the director engaged in willful misconduct or a knowing violation of criminal law or of
any federal or state securities law, including, without limitation, laws proscribing
insider trading or manipulation of the market for any security.
The
bylaws of First Community require the company to indemnify any person who was, is, or is
threatened to be made a named defendant or respondent in any threatened, pending, or
completed action, suit, or proceeding, whether civil, criminal, administrative, or
investigative, by reason of service by such person as a director of the company or its
subsidiary bank or any other corporation which he served as such at the request of the
company. Except as noted in the next paragraph, directors are entitled to be indemnified
against judgments, penalties, fines, settlements, and reasonable expenses actually
incurred by the director in connection with the proceeding. Directors are also entitled to
have the company advance any such expenses prior to final disposition of the proceeding,
upon delivery of a written affirmation by the director of his good faith belief that the
standard of conduct necessary for indemnification has been met and a written undertaking
to repay the amounts advanced if it is ultimately determined that the standard of conduct
has not been met.
Under
the bylaws, indemnification will be disallowed if it is established that the director (i)
appropriated, in violation of his duties, any business opportunity of the company, (ii)
engaged in willful misconduct or a knowing violation of law, (iii) permitted any unlawful
distribution, or (iv) derived an improper personal benefit. In addition to the bylaws,
Section 33-8-520 of the South Carolina Business Corporation Act of 1988 (the
Corporation Act) requires that a corporation indemnify a director who
was wholly successful, on the merits or otherwise, in the defense of any proceeding to
which he was a party because he is or was a director of the corporation against reasonable
expenses incurred by him in connection with the proceeding. The Corporation Act also
provides that upon application of a director a court may order indemnification if it
determines that the director is entitled to such indemnification under the applicable
standard of the Corporation Act.
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The
board of directors also has the authority to extend to officers, employees, and agents the
same indemnification rights held by directors, subject to all of the accompanying
conditions and obligations. The board of directors has extended or intends to extend
indemnification rights to all of its executive officers.
Insofar as indemnification for
liabilities arising under the Securities Act of 1933 may be permitted to directors,
officers or persons controlling First Community pursuant to the provisions discussed
above, First Community has been informed that in the opinion of the SEC, such
indemnification is against public policy as expressed in the Securities Act of 1933 and
is, therefore, unenforceable.
Item 7. Exemption from Registration Claimed.
No
response is required to this item.
Item 8. Exhibits.
The
following exhibits are filed with this registration statement.
Exhibit
Number
Description of
Exhibit
4.1 |
Amended and Restated Articles of Incorporation (incorporated by reference to Exhibit 3.1 to
the company's Registration Statement No. 33-86258 on Form S-1) |
4.2 |
Bylaws (incorporated by reference to Exhibit 3.2 to the company's Registration Statement No.
33-86258 on Form S-1) |
5.1 |
Legal Opinion of Nelson Mullins Riley & Scarborough LLP |
23.1 |
Consent of Clifton D. Bodiford, CPA |
23.2 |
Consent of Nelson Mullins Riley & Scarborough LLP (contained in their opinion filed as
Exhibit 5.1) |
24 |
Power of Attorney (contained on the signature pages of this registration statement) |
99.1 |
First Community Corporation / DutchFork Bancshares, Inc. Stock Incentive Plan |
Item 9. Undertakings.
The
Company hereby undertakes:
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(1) |
To file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement: |
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(i) |
To include any prospectus required by Section 10(a)(3) of the Securities Act; |
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(ii) |
To reflect in the prospectus any facts or events which, individually or
together, represent a fundamental change in the information in the registration
statement. Notwithstanding the foregoing, any increase or decrease in volume of
securities offered (if the total dollar value of securities offered would not
exceed that which was registered) and any deviation from the low or high end of
the estimated maximum offering range may be reflected in the form of prospectus
filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the
changes in volume and price represent no more than a 20 percent change in the
maximum aggregate offering price set forth in the Calculation of
Registration Fee table in the effective registration statement; |
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(iii) |
To include any additional or changed material information on the plan of
distribution; |
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provided, however, that the undertakings set forth in paragraph (i) and (ii) above do not
apply if the information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed with or furnished to the Commission
pursuant to Section 13 or 15(d) of the Exchange Act of 1934 that are incorporated by
reference in this registration statement; |
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(2) |
That, for the purpose of determining any liability under the Securities Act,
each such post-effective amendment shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering
thereof; |
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(3) |
To remove from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of the
offering. |
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SIGNATURES
Pursuant
to the requirements of the Securities Act of 1933, the registrant certifies that it has
reasonable grounds to believe that it meets all of the requirements for filing on Form S-8
and has duly caused this registration statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the city of Lexington, State of South Carolina,
on this 21st day of September, 2004.
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FIRST COMMUNITY CORPORATION
By: /s/ Michael C. Crapps President and Chief Executive Officer |
POWER OF ATTORNEY
KNOW
ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes
and appoints Michael C. Crapps and Joseph G. Sawyer, or either of them, as such
persons true and lawful attorneys-in-fact and agents, with full power of
substitution and resubstitution, for such person and in such persons name, place and
stead, in any and all capacities, to sign any and all amendments (including post-effective
amendments) to this Registration Statement and any Registration Statement filed pursuant
to Rule 462(b) under the Securities Act of 1933, and to file the same, with all exhibits
thereto, and other documents in connection therewith, with the Securities and Exchange
Commission and any other regulatory authority, granting unto the attorneys-in-fact and
agents, and each of them, full power and authority to do and perform each and every act
and thing requisite and necessary to be done in connection therewith, as fully to all
intents and purposes as such person might or could do in person, hereby ratifying and
confirming all that the attorneys-in-fact and agents, or either of them, or their or his
substitute or substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant
to the requirements of the Securities Act of 1933, this Registration Statement has been
signed below by the following persons in the capacities and on the dates indicated:
Richard K. Bogan |
Director |
September 21, 2004 |
Thomas C. Brown |
Director |
September 21, 2004 |
Chimin J. Chao |
Director |
September 21, 2004 |
Michael C. Crapps |
Director, President & Chief Executive Officer |
September 21, 2004 |
Hinton G. Davis |
Director |
September 21, 2004 |
Anita B. Easter |
Director |
September 21, 2004 |
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O. A. Ethridge |
Director |
September 21, 2004 |
George H. Fann, Jr. |
Director |
September 21, 2004 |
/s/ W. James Kitchens, Jr.
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W. James Kitchens, Jr. |
Director |
September 21, 2004 |
James C. Leventis |
Director, Chairman of the Board, & Secretary |
September 21, 2004 |
Joseph G. Sawyer |
Senior Vice President Chief Financial Officer Accounting Officer |
September 21, 2004 |
Steve P.Sligh |
Director |
September 21, 2004 |
J. Thomas Johnson |
Director |
September 21, 2004 |
Loretta R. Whitehead |
Director |
September 21, 2004 |
/s/ Mitchell M. Willoughby
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Mitchell M. Willoughby |
Director |
September 21, 2004 |
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Exhibit Index
Exhibit
Number
Description of
Exhibit
4.1 |
Amended and Restated Articles of Incorporation (incorporated by reference to Exhibit 3.1 to
the company's Registration Statement No. 33-86258 on Form S-1) |
4.2 |
Bylaws (incorporated by reference to Exhibit 3.2 to the company's Registration Statement No.
33-86258 on Form S-1) |
5.1 |
Legal Opinion of Nelson Mullins Riley & Scarborough LLP |
23.1 |
Consent of Clifton D. Bodiford, CPA |
23.2 |
Consent of Nelson Mullins Riley & Scarborough LLP (contained in their opinion filed as
Exhibit 5.1) |
24 |
Power of Attorney (contained on the signature pages of this registration statement) |
99.1 |
First Community Corporation / DutchFork Bancshares, Inc. Stock Incentive Plan |
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