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First Community
Corporation

5455 Sunset Blvd.

Lexington, SC
29072

November 20,
2023

United States Securities and Exchange
Commission

Division of Corporation Finance

100 F Street, N.E.

Washington, D.C. 20549

Attn: Michael Henderson and Robert
Klein

    Re:
    First Community Corporation

    Form 10-K for Fiscal Year Ended December
    31, 2022

    Form 8-K filed October 18, 2023

    File No. 000-28344

Dear Messrs. Henderson and Klein,

This
letter is being submitted in response to the comment letter dated November 8, 2023 (the “Comment Letter”) from
the staff of the Division of Corporation Finance (the “Staff”) of the U.S. Securities and Exchange Commission
(the “Commission”) relating to First Community Corporation’s (the “Company’s”)
Annual Report on Form 10-K for the fiscal year ended December 31, 2022 and Current Report on Form 8-K furnished to the Commission
on October 18, 2023.

For
your convenience, the text of the Staff’s comments is set forth in italics followed by the Company’s responses. The
headings and numbered responses below correspond to the headings and numbered comments in the Comment Letter.

Form 8-K
filed October 18, 2023

Exhibit 99.1

 1. We
                                         note your presentation of the Non-GAAP measure for tangible common equity per common
                                         share excluding accumulated other comprehensive loss and tangible common equity to tangible
                                         assets excluding accumulated other comprehensive loss. Please address the following:

 · Revise
                                         your future filings to include a calculation and full reconciliation of this non-GAAP
                                         measure to GAAP financial information, quantifying each individual adjustment component
                                         to the numerator and denominator. In your response, provide us with a reconciliation
                                         for the period ended September 30, 2023.

Response:

We
respectfully acknowledge the Staff’s comment and if these measures are included in future filings, we will provide a calculation
and full reconciliation of such non-GAAP measures to GAAP financial information, quantifying each individual adjustment component
to the numerator and denominator for all applicable periods. Further, we note that, consistent with past practice, we do not intend
to include these measures in our Forms 10-K and 10-Q.

Please
see the following reconciliation for (1) tangible book value per common share excluding accumulated other comprehensive loss and
(2) tangible common equity to tangible assets excluding accumulated other comprehensive loss (collectively, the “Non-GAAP
Measures Excluding AOCL”) for the period ended September 30, 2023, which line items are derived from the Company’s
balance sheet as of September 30, 2023, as an illustration of the calculation and full reconciliation format that we intend to
include in future filings if these measures are included in a future filing:

      $
                                         in thousands except per common share data
    September
    30,

    2023

      A
    Total
    shareholders' equity (GAAP)
    $ 123,601

      B
    Intangible
    assets (GAAP)
      643

      C
    Goodwill
    (GAAP)
      14,637

      D
    Accumulated
    other comprehensive loss (GAAP)
      (33,057
    )

      E
    Total
    shareholders' equity excluding accumulated other comprehensive loss (non-GAAP)
    $ 141,378
      E
                                         = A - B - C - D

      F
    Total
    assets (GAAP)
      1,793,722

      G
    Intangible
    assets (GAAP)
      643

      H
    Goodwill
    (GAAP)
      14,637

      I
    Accumulated
    other comprehensive loss (GAAP)
      (33,057
    )

      J
    Total
    assets excluding accumulated other comprehensive loss (non-GAAP)
    $ 1,811,499
      J
                                         = F - G - H - I

      K
    Common
    Stock, par value $1.00 per share (GAAP)
    $ 7,600

      L
    Book value per common
    share (GAAP)
    $ 16.26
      L
                                         = A / K

      M
    Tangible
    book value per common share excluding accumulated other comprehensive loss (non-GAAP)
    $ 18.60
      M
                                         = E / K

      N
    Equity
    to assets (GAAP)
      6.89
    % N
                                         = A / F

      O
    Tangible
    common equity to tangible assets excluding accumulated other comprehensive loss (non-GAAP)
      7.80
    % O
                                         = E / J

 · Tell
                                         us and revise your disclosures, in future filings, to more fully explain what this measure
                                         represents and how it is used to analyze and evaluate financial condition and capital
                                         strength.

Response:

We
respectfully acknowledge the Staff’s comment and if included in future filings, we will more fully explain the Non-GAAP
Measures Excluding AOCL, what it represents and how such measures are used to analyze and evaluate financial condition and capital
strength.

The
Company’s management concluded that it was appropriate to include the Non-GAAP Measures Excluding AOCL for the Company’s
financial performance measures in its earnings release furnished to the Commission because this information is useful for shareholders,
current and potential investors, and financial industry analysts (collectively, the “Stakeholders”). The Company
provided these Non-GAAP Measures Excluding AOCL in response to Stakeholders’ request for such information, and the Company
has received feedback from its Stakeholders that it is beneficial information in comparing the Company to other companies and
in assessing the Company in light of metrics that Stakeholders view as important.

The
Company’s management believes that these Non-GAAP Measures Excluding AOCL are relevant measures to provide because accumulated
other comprehensive income (loss) fluctuates on a quarterly and yearly basis based on changes in fair market values on the Company’s
securities primarily due to change in market interest rates. The Company’s change from accumulated other comprehensive income
to accumulated other comprehensive loss has been due to increases in market interest rates, which has a temporary negative impact
on the fair value of the investment securities portfolio and on accumulated other comprehensive income (loss), which is included
in shareholders’ equity. Providing the Non-GAAP Measures Excluding AOCL enhances Stakeholders’ ability to evaluate
how the Company’s tangible book value per common share and tangible common equity to tangible assets have changed exclusive
of the changes in accumulated other comprehensive income (loss) (i.e., the impact of subtracting GAAP net unrealized gains net
of deferred taxes and adding back GAAP net unrealized losses net of deferred taxes on the investment securities portfolio.)

The
Company will continue to note for Stakeholders that “Non-GAAP measures have limitations as analytical tools, and investors
should not consider them in isolation or as a substitute for analysis of the company’s results as reported under GAAP.”

 · Tell
                                         us how you determined the adjustment to exclude accumulated other comprehensive income
                                         (loss) is appropriate, including your consideration of whether the adjustment relates
                                         to normal, recurring activities of the Company or if it results in individually tailored
                                         accounting. Refer to Question 100.04 of the Division of Corporation Finance’s Compliance
                                         & Disclosure Interpretations on Non-GAAP Financial Measures.

Response:

The
Company’s management maintains that changes in the interest rate environment, which are affected by many factors beyond
the Company’s control (including inflation, recession, unemployment, money supply, domestic and international events and
changes in the United States and other financial markets) and affect others in the banking industry, can temporarily affect the
market value of its available-for-sale investment securities and temporarily impact accumulated other comprehensive income (loss),
which temporarily can impact shareholders’ equity. The Company does not believe that the disclosure of the Non-GAAP Measures
Excluding AOCL, which are derivable directly from individual line items on the balance sheet, constitutes individually tailored
accounting referred to in Question 100.04. The Company’s management believes that providing non-GAAP financial measures
excluding accumulated other comprehensive income (loss) is a commonly used approach within the banking industry and is not an
individually tailored accounting referred to in Question 100.04 given this commonality.

The
Company’s management understands the need for transparent disclosure and will include all applicable reconciliations.

 · Tell
                                         us whether you will continue to present this measure and adjustment during periods where
                                         there is an accumulated other comprehensive gain rather than a loss, which would result
                                         in a reduction to these non-GAAP measures excluding AOCI. Refer to Question 100.03 of
                                         the Division of Corporation Finance’s Compliance & Disclosure Interpretations
                                         on Non-GAAP Financial Measures.

Response:

We
respectfully acknowledge the Staff’s comment. Subject to the Staff’s position and continuing Stakeholder interests
in this measure and adjustment, we intend to present this measure and adjustment in future earnings releases during periods where
there is an accumulated other comprehensive gain or loss.

 · Tell
                                         us whether you also add back the impact of AOCI to the denominator (total tangible assets)
                                         so that both the numerator and denominator would be calculated on a consistent basis,
                                         where applicable. To the extent that you do not, explain how you concluded it is appropriate.

Response:

We
respectfully acknowledge the Staff’s comment and refer the Staff to the full reconciliation above that indicates when calculating
the non-GAAP measure, we adjust both the numerator and denominator for the impact of accumulated other comprehensive income (loss)
so that both are calculated on a consistent basis.

***

We
hope the foregoing information addresses the Staff’s comments regarding the referenced filing. If you have any questions
regarding this letter, please do not hesitate to contact me at (803) 951-0516.

    Sincerely,

    First Community Corporation

    /s/ D.
    Shawn Jordan

    D. Shawn Jordan

    Chief Financial Officer