First Community (FCCO) 8-K First Community Corporation Announces Earnings and Cash Dividend

Exhibit 99.1

News Release

For Release January 21, 2004

10:00 A.M.

Contact:	Joseph G. Sawyer, Senior Vice President & Chief Financial Officer or
	Robin D. Brown, Senior Vice President & Director of Marketing
	(803) 951- 2265

First Community Corporation Announces Earnings and Cash Dividend

Lexington, S.C. January 21, 2004 - Today First Community Corporation, the holding company for First Community Bank, reported net income for the fourth quarter and year ended 2003. For the year ended December 31, 2003, net income was $1.797 million compared to the $1.464 million earned during the same period in 2002, an increase of 22.7%. Diluted earnings per share for 2003 were $1.08 compared to $.90 earned during 2002, a 20% increase. Shareholders' equity was $19.5 million at December 31, 2003, an increase of 6.0% over the $18.4 million in shareholders' equity at December 31, 2002. Total assets were $215.0 million at December 31, 2003, an increase of 10.1% over December 31, 2002 assets of $195.2 million. Net income for the quarter was $439 thousand compared to the fourth quarter 2002 net income of $432 thousand. Diluted earnings per share was $.26 for both the fourth quarter of 2003 and 2002.

In addition to releasing fourth quarter and year-end earnings, the company also announced that the board of directors had approved a cash dividend for the fourth quarter of 2003. The company declared a $.05 per share dividend, payable February 16, 2004 to shareholders of record as of February 2, 2004.

Mike Crapps, president and chief executive officer commented on the company's recent performance by saying, "The Company's performance during 2003 was strong, led by a 22.7% increase in net income." Crapps noted, "During 2003 First Community Bank launched its website, www.firstcommunitysc.com, and introduced a new online banking product. Also in 2003, the Company began trading on the NASDAQ Small Cap Market." Crapps continued, "In addition to the financial success First Community Corporation enjoyed in 2003, the company announced expansion plans with a seventh First Community Bank office scheduled to open in northeast Columbia in the spring of this year."

First Community Corporation trades on the NASDAQ Small Cap Market under the symbol "FCCO" and is the holding company for First Community Bank, a local community bank based in the midlands of South Carolina. First Community Bank operates six banking offices located in Lexington, Forest Acres, Irmo, Cayce-West Columbia, Gilbert and Chapin.

Statements contained in this press release that are not historical facts are forward-looking statements. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from those projected. Other factors that may cause actual results to differ from the forward looking statements contained in this release and that may affect the company's prospects in general include, but are not limited to, changes in general economic and business conditions and such other factors as are described in the company's filings with the Securities and Exchange Commission.

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FIRST COMMUNITY CORPORATION
BALANCE SHEET DATA
(Dollars in thousands, except per share data)

	At December 31,
	2003			2002
Total assets	$	215,029		$	195,201
Investment securities		58,954			69,785
Loans		119,304			99,991
Allowance for Loan Losses		1,705			1,525
Total Deposits		185,258			168,062
Other Borrowings		9,101			7,470
Shareholders' Equity		19,509			18,439
Book Value Per Share	$	12.21		$	11.63
Tangible Book Value Per Share	$	11.74		$	11.01
Equity to Assets		9.1	%		9.4	%
Loan to Deposit Ratio		64.4	%		59.5	%
Allowance for Loan Losses/Loans		1.4	%		1.5	%

	Three months ended						Year ended
Average Balances:	December 31,						December 31,
	2003			2002			2003			2002
Average Total Assets	$	201,650		$	193,811		$	204,795		$	178,648
Average Loans		117,766			97,098			111,928			93,992
Average Earning Assets		195,622			180,053			190,278			165,528
Average Deposits		179,474			168,427			176,750			154,819
Average Other Borrowings		10,649			6,026			7,855			5,305
Average Shareholders' Equity		19,313			18,207			18,947			17,541
Asset Quality
Nonperforming Assets	$	97		$	144		$	97		$	144
Net Charge-offs (recoveries)	$	211		$	17		$	(13	)	$	152
Net Charge-offs to Average Loans		0.18	%		0.02	%		-			0.16	%

FIRST COMMUNITY CORPORATION
INCOME STATEMENT DATA
(Dollars in thousands, except per share data)

	Three Months Ended						Year Ended
	December 31,						December 31,
	2003			2002			2003			2002
Interest Income	$	2,509		$	2,572		$	10,028		$	9,847
Interest Expense		560			700			2,380			2,803
Net Interest Income		1,949			1,872			7,648			7,044
Provision for Loan Losses		35			105			167			677
Net interest income after provision
for possible loan losses		1,914			1,767			7,481			6,367
Non-Interest Income:
Deposit service charges		192			157			700			587
Mortgage origination fees		56			116			343			300
Securities Gains		-			-			-			61
Other		113			62			396			284
Total non-interest income		361			335			1,439			1,232
Non-Interest Expense:
Salaries and employee benefits		868			750			3,307			2,740
Occupancy		109			107			395			340
Equipment		242			166			803			629
Marketing and public relations		48			64			273			244
Amortization of intangibles		45			46			179			185
Other		290			327			1,201			1,239
Total non-interest expense		1,602			1,460			6,158			5,377
Income Before Taxes		673			642			2,762			2,222
Income Tax Expense		234			210			965			758
Net Income	$	439		$	432		$	1,797		$	1,464
Primary Earnings Per Share	$	0.28		$	0.27		$	1.13		$	0.92
Diluted Earnings Per Share	$	0.26		$	0.26		$	1.08		$	0.90
Average number of shares outstanding		1,593,102			1,587,970			1,590,052			1,584,033
Return on Average Assets		0.8	%		0.9	%		0.9	%		0.8	%
Return on Average Equity		9.1	%		8.1	%		9.5	%		6.9	%
Net Interest Margin		4.0	%		4.3	%		4.0	%		4.2	%

Post Office Box 64/ Lexington, SC 29071