SEC Comment Letter 0000000000-23-013942 to FIRST COMMUNITY CORP /SC/ (FCCO)
FIRST COMMUNITY CORP /SC/
Date: Dec. 21, 2023 · CIK: 0000932781 · Accession: 0000000000-23-013942
AI Filing Summary & Sentiment
Reasoning
File numbers found in text: 000-28344
Letter
United States securities and exchange commission logo December 21, 2023 D. Shawn Jordan Chief Financial Officer First Community Corporation 5455 Sunset Boulevard Lexington, SC 29072 Re:First Community Corporation Form 10-K for Fiscal Year Ended December 31, 2022 Form 8-K filed October 18, 2023 Response dated November 20, 2023 File No. 000-28344 Dear D. Shawn Jordan: We have reviewed your November 20, 2023 response to our comment letter and have the following comment. Please respond to this letter within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe the comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to this letter, we may have additional comments. Unless we note otherwise, any references to prior comments are to comments in our November 8, 2023 letter. Form 8-K filed October 18, 2023 Exhibit 99.1 1.We note your response to prior comment 1. Your presentation of tangible common equity per common share excluding accumulated other comprehensive loss and tangible common equity to tangible assets excluding accumulated other comprehensive loss represents individually tailored accounting measures given that the adjustment to exclude accumulated other comprehensive loss has the effect of changing the recognition and measurement principles required to be applied in accordance with GAAP. Therefore, please remove the presentation of these non-GAAP measures from your future filings. Refer to Question 100.04 of the Division of Corporation Finance’s Compliance & Disclosure Interpretations on Non-GAAP Financial Measures and Rule 100(b) of Regulation G.
FirstName LastNameD. Shawn Jordan Comapany NameFirst Community Corporation December 21, 2023 Page 2 FirstName LastName D. Shawn Jordan First Community Corporation December 21, 2023 Page 2 Please contact Michael Henderson at 202-551-3364 or Robert Klein at 202-551-3847 if you have questions regarding comments on the financial statements and related matters. Sincerely, Division of Corporation Finance Office of Finance
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United States securities and exchange commission logo
December 21, 2023
D. Shawn Jordan
Chief Financial Officer
First Community Corporation
5455 Sunset Boulevard
Lexington, SC 29072
Re:First Community Corporation
Form 10-K for Fiscal Year Ended December 31, 2022
Form 8-K filed October 18, 2023
Response dated November 20, 2023
File No. 000-28344
Dear D. Shawn Jordan:
We have reviewed your November 20, 2023 response to our comment letter and have the
following comment.
Please respond to this letter within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe the
comment applies to your facts and circumstances, please tell us why in your response.
After reviewing your response to this letter, we may have additional comments. Unless
we note otherwise, any references to prior comments are to comments in our November 8, 2023
letter.
Form 8-K filed October 18, 2023
Exhibit 99.1
1.We note your response to prior comment 1. Your presentation of tangible common equity
per common share excluding accumulated other comprehensive loss and tangible common
equity to tangible assets excluding accumulated other comprehensive loss represents
individually tailored accounting measures given that the adjustment to exclude
accumulated other comprehensive loss has the effect of changing the recognition and
measurement principles required to be applied in accordance with GAAP. Therefore,
please remove the presentation of these non-GAAP measures from your future filings.
Refer to Question 100.04 of the Division of Corporation Finance’s Compliance
& Disclosure Interpretations on Non-GAAP Financial Measures and Rule 100(b) of
Regulation G.
FirstName LastNameD. Shawn Jordan
Comapany NameFirst Community Corporation
December 21, 2023 Page 2
FirstName LastName
D. Shawn Jordan
First Community Corporation
December 21, 2023
Page 2
Please contact Michael Henderson at 202-551-3364 or Robert Klein at 202-551-3847 if
you have questions regarding comments on the financial statements and related matters.
Sincerely,
Division of Corporation Finance
Office of Finance