First Community Corporation reported earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported interest income of $5,468,000 compared to $6,238,000 a year ago. Net Interest Income was $4,285,000 compared to $4,616,000 a year ago. Income before taxes was $1,338,000 compared to $1,565,000 a year ago. Net Income available to common shareholders were $1,021,000 or $0.19 per diluted share compared to $903,000 or $0.27 per diluted share a year ago. Return on average assets was 0.67% compared to 0.59% a year ago. Return on average common equity was 7.51% compared to 9.94% a year ago. Return on average common tangible equity was 7.62% compared to 10.15% a year ago.

For the full year, the company reported interest income of $23,002,000 compared to $25,526,000 a year ago. Net Interest Income was $17,574,000 compared to $18,317,000 a year ago. Income before taxes was $5,588,000 compared to $4,781,000 a year ago. Net Income available to common shareholders were $3,292,000 or $0.79 per diluted share compared to $2,654,000 or $0.81 per diluted share a year ago. Return on average assets was 0.55% compared to 0.44% a year ago. Return on average common equity was 7.40% compared to 7.98% a year ago. Return on average common tangible equity was 7.55% compared to 8.16% a year ago. Book value per common share was $10.37 compared to $11.11 a year ago. Tangible book value per common share was $10.23 compared to $10.89 a year ago.

The board of directors announced its approval of an increase in its cash dividend for the fourth quarter of 2012. The company will pay a $0.05 per share dividend to holders of the company's common stock. This dividend is payable February 15, 2013, to shareholders of record as of February 1, 2013.

For the quarter, the company reported net charge offs was $154,000 compared to $319,000 a year ago.