First Community (FCCO) 8-K Financial statements and exhibits

Exhibit 99.1

News Release

For Release July 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 Releases Second Quarter Earnings
Lexington, S.C. July 21, 2004 - Today First Community Corporation, the holding company for First Community Bank, reported net income for year-to-date 2004 and the second quarter of 2004. Net income for the six months ended June 30, 2004 was $852 thousand compared to $909 thousand in 2003. Year-to-date diluted earnings per share for 2004 were $.51 compared to $.55 in 2003. Total assets were $234.5 million at June 30, 2004 compared to $208.4 million at June 30, 2003 an increase of 12.5%. Shareholders' equity at June 30, 2004 was $19.8 million compared to $19.1 million at June 30, 2003, an increase of 3.7%. Net income for the second quarter was $431 thousand compared to the second quarter of 2003 net income of $459 thousand. Diluted earnings per share were $.26 for the second quarter of 2004 compared to $.28 in the second quarter of 2003.

In addition to releasing second quarter earnings, the company also announced that the board of directors had approved a cash dividend for the second quarter of 2004. The company declared a $.05 per share dividend, payable August 16, 2004 to shareholders of record as of August 2, 2004.

Mike Crapps, president and chief executive officer commented on the company's recent performance by saying, "Although second quarter 2004 earnings decreased slightly from second quarter 2003, this decrease was anticipated as a result of the bank's second phase of expansion in Richland and Lexington counties. This second phase of expansion began with the addition of our Northeast banking office that opened in April and continues with the announcement of a new banking office in the Red Bank area. In addition, the company is looking for additional opportunities for de novo branch expansion as the bank continues its focus as the premier community bank in the Midlands."

First Community Corporation is the holding company for First Community Bank, a local community bank based in the midlands of South Carolina. First Community Corporation and Dutch Fork Bancshares in April announced a definitive agreement to merge First Community Bank and Newberry Federal Savings Bank, which is anticipated to be completed early in the fourth quarter of this year. First Community Bank operates seven banking offices located in Lexington, Forest Acres, Irmo, Gilbert, Cayce - West Columbia, Chapin, and Northeast Columbia. First Community Corporation stock trades on the NASDAQ Small Cap Market under the symbol "FCCO".

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.

###

FIRST COMMUNITY CORPORATION

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

	Three months ended						Six months ended
	June 30,						June 30,
	2004			2003			2004			2003
Interest Income	$	2,583		$	2,519		$	5,159		$	5,029
Interest Expense		577			616			1,129			1,272
Net Interest Income		2,006			1,903			4,030			3,757
Provision for Loan Losses		64			45			130			97
Net Interest Income After Provision		1,942			1,858			3,900			3,660
Non-interest Income:
Deposit service charges		207			173			396			328
Mortgage origination fees		75			100			132			193
Other		142			125			273			186
Total non-interest income		424			398			801			707
Non-interest Expense:
Salaries and employee benefits		898			854			1,799			1,610
Occupancy		107			88			208			184
Equipment		222			191			445			353
Marketing and public relations		82			78			181			155
Amortization of intangibles		44			44			89			90
Other		353			295			684			579
Total non-interest expense		1,706			1,550			3,406			2,971
Income Before Taxes		660			706			1,295			1,396
Income Tax Expense		229			247			443			487
Net Income	$	431		$	459		$	852		$	909
Primary Earnings Per Share	$	0.27		$	0.29		$	0.53		$	0.57
Diluted Earnings Per Share	$	0.26		$	0.28		$	0.51		$	0.55
Average number of shares outstanding		1,606,309			1,589,444			1,602,057			1,588,719
Return on Average Assets		0.8	%		0.9	%		0.8	%		0.9	%
Return on Average Equity		8.7	%		9.8	%		8.6	%		9.8	%
Net Interest Margin		3.9	%		4.0	%		4.0	%		4.0	%

FIRST COMMUNITY CORPORATION

BALANCE SHEET DATA
(Dollars in thousand, except per share data)

	At June 30,						December 31,
	2004			2003			2003
Total Assets	$	234,479		$	208,404		$	215,029
Investment Securities		62,772			57,523			58,954
Loans		129,775			111,881			121,009
Allowance for Loan Losses		1,782			1,851			1,705
Total Deposits		201,178			181,875			185,258
Other Borrowings		12,412			5,983			9,102
Shareholders' Equity		19,836			19,076			19,509
Book Value Per Share	$	12.29		$	12.00		$	12.21
Tangible Book Value Per Share	$	11.87		$	11.46		$	11.74
Equity to Assets		8.5	%		9.2	%		9.1	%
Loan to Deposit Ratio		64.5	%		61.5	%		65.3	%
Allowance for Loan Losses/Loans		1.4	%		1.7	%		1.4	%
Average Balances:

	Three months ended						Six months ended
	June 30,						June 30,
	2004			2003			2004			2003
Average Total Assets	$	224,391		$	205,232		$	216,631		$	173,538
Average Loans		129,427			110,424			126,905			92,945
Average Earning Assets		207,330			190,936			200,453			160,633
Average Deposits		193,212			178,893			185,641			150,331
Average Other Borrowings		10,145			6,197			10,037			5,068
Average Shareholders' Equity		19,978			18,849			19,890			17,219
Asset Quality
Nonperforming Assets	$	191		$	241		$	191		$	241
Net Charge-offs (Recovery)	$	74		$	(144	)	$	54		$	(229	)
Net Charge-offs to Average Loans		0.05	%		(0.13	%)		0.04	%		(0.21	%)

Post Office Box 64 / Lexington, SC 29071