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Exhibit 99
FOR IMMEDIATE RELEASE
CONTACT: Chris Redcay
Chief Financial Officer
1-336-229-2744
FIRST COMMUNITY FINANCIAL CORPORATION TO REPURCHASE STOCK
BURLINGTON, NC - October 12, 2000 - First Community Financial Corporation
(NASDAQ: FCFN) announced today that it has received approval to repurchase up to
178,675 shares, or 10%, of the Company's outstanding shares of common stock.
"The repurchase plan will support our continued strategy to leverage
our capital structure and at current prices represents an attractive
investment," said President and Chief Executive Officer, W. R. Gilliam. "At
current prices, a share repurchase will have a positive impact on per share
earnings, book value and return on equity.
Repurchases will generally be made through open market purchases. The
repurchased shares will be held as treasury stock and will be available for
general corporate purposes.
On September 30, 2000, the Company had assets of $238 million and
shareholders equity of $45.5 million. The Company's wholly owned subsidiary,
Community Savings Bank, conducts business from four full service offices in
Alamance County, North Carolina.
