First Community Corporation Announces Completion of Merger With DutchFork Bancshares, Inc.

First Community Corporation Announces Completion of Merger With
DutchFork Bancshares, Inc. 


LEXINGTON, S.C., Oct. 5  /PRNewswire-FirstCall/ -- First Community Corporation
(NASDAQ:FCCO), holding company for First Community Bank, announced today the
completion of the merger with DutchFork Bancshares, Inc. (NASDAQ:DFBS), holding
company for Newberry Federal Savings Bank.  Newberry Federal Savings Bank's
offices began operations as branches of First Community Bank yesterday, Monday,
October 4, 2004.  First Community Bank now has ten full service banking offices
in the midlands of South Carolina with locations in Lexington, Forest Acres,
Irmo, Cayce-West Columbia, Gilbert, Chapin, Northeast Columbia, Newberry (2),
and Prosperity.  First Community Bank also has its eleventh banking office
under construction in the Red Bank area of Lexington County with an anticipated
opening in February of 2005.

(Logo:  http://www.newscom.com/cgi-bin/prnh/20030508/FCCOLOGO )

Mike Crapps, President and Chief Executive Officer for First Community
Corporation stated, "We are excited at the uniting of our companies and we
believe the customers of both banks will benefit from the convenience of this
expanded branch network combined with access to a full array of banking
products and services."  Crapps continued, "The style of banking of our two
institutions is so similar that a merger was a natural fit for us.  The
commitment of both companies to our customers, our employees, and our
communities is strong and will continue as we use our combined resources to
continue our vision as the premier community bank of the midlands."  Tommy
Johnson, Executive Vice President of First Community Corporation and the former
Chairman and Chief Executive Officer of Dutch Fork Bancshares stated, "We are
even more convinced now than when we announced our merger intentions that our
union is a benefit for our shareholders, our customers and our communities.
This merger and the preparations leading to it have gone extremely well which I
believe can be attributed in large part to the shared values of our
organizations."

First Community Corporation will issue a total of approximately 1,203,000
shares and pay a total of approximately $19.3 million to the former DutchFork
Bancshares, Inc. stockholders.  In reporting the details of the transaction,
First Community Corporation noted that DutchFork Bancshares Inc. shareholders
who elected to receive their consideration in the form of 100% stock will
receive shares of First Community Corporation.  Shareholders who elected to
receive their consideration in the form of 100% cash or some combination of
cash and stock will receive approximately 57.4% of the requested cash
consideration with the balance in shares of First Community Corporation.
DutchFork Bancshares, Inc. stockholders who did not submit properly completed
election forms within the required timeframe will receive 1.78125 shares of
First Community Corporation common stock for each share of DutchFork Bancshares
common stock they owned plus cash in lieu of fractional shares, if any, at a
rate of $20.86 per whole share.  It was also noted that the combined company
will have an asset size of approximately $458 million.

The $50.0 million transaction was originally announced on April 13, 2004 and
with the closing of the transaction, the company has approximately 2.8 million
shares outstanding. Effective with this merger, First Community Bank becomes
the 18th largest commercial bank in South Carolina and the 6th largest publicly
traded bank in the state with a market share in excess of 4% in Lexington,
Richland, and Newberry counties.

Certain statements in this news release contain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995,
such as statements relating to future plans and expectations, and are thus
prospective.  Such forward-looking statements are subject to risks,
uncertainties, and other factors, such as a downturn in the economy, which
could cause actual results to differ materially from future results expressed
or implied by such forward-looking statements.

Although we believe that the assumptions underlying the forward-looking
statements are reasonable, any of the assumptions could prove to be inaccurate.
 Therefore, we can give no assurance that the results contemplated in the
forward-looking statements will be realized.  The inclusion of this
forward-looking information should not be construed as a representation by our
company or any person that the future events, plans, or expectations
contemplated by our company will be achieved. We undertake no obligation to
publicly update or revise any forward-looking statements, whether as a result
of new information, future events, or otherwise. 

http://www.newscom.com/cgi-bin/prnh/20030508/FCCOLOGO

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DATASOURCE: First Community Corporation



CONTACT:  Michael C. Crapps, President & Chief Executive Officer,

[phone], or J. Thomas Johnson, Executive Vice President,

[phone], both of First Community Corporation

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