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Exhibit 99.1
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FIRST COMMUNITY BANK, NA NEWBERRY FEDERAL SAVINGS BANK
5455 SUNSET BOULEVARD 1735 WILSON ROAD
LEXINGTON, SOUTH CAROLINA 29072 NEWBERRY, SOUTH CAROLINA 29108
NEWS ANNOUNCEMENT
DATE: DECEMBER 20, 2000
CONTACT: FIRST COMMUNITY BANK, NA NEWBERRY FEDERAL SAVINGS BANK
MICHAEL C. CRAPPS J. THOMAS JOHNSON
PRESIDENT & CEO CHAIRMAN & CEO
(803) 951-2265 (803) 321-3200
JOSEPH G. SAWYER
SENIOR VICE PRESIDENT
(803) 951-0508
TO: NEWS MEDIA
RELEASE DATE: IMMEDIATE
FIRST COMMUNITY BANK, NA AND NEWBERRY FEDERAL SAVINGS BANK
ANNOUNCE AGREEMENT ON SALE OF CHAPIN OFFICE
Newberry, S.C., (December 20, 2000) . . . . First Community Bank, NA, a
subsidiary of First Community Corp. (OTC: FCCO) and Newberry Federal Savings
Bank, a subsidiary of DutchFork Bancshares, Inc. (Nasdaq: DFBS), today announced
the signing of a definitive agreement by which First Community Bank will
purchase the Chapin, South Carolina branch office of Newberry Federal Savings
Bank.
The Chapin branch office of Newberry Federal Savings Bank has total deposits of
approximately $13.5 million and will increase First Community Bank's total
deposit and cash management level to approximately $110 million and total assets
to approximately $124 million. The transaction is expected to be completed
during the first quarter of 2001, pending regulatory approvals and certain other
conditions of closing. The terms of the transaction were not disclosed.
Michael C. Crapps, President and Chief Executive Officer of First Community
Bank, said that the two banks will work closely to ensure that the transition is
orderly. Mr. Crapps stated, "We are excited about the opportunity to be part of
the Chapin community and are looking forward to serving the businesses and
residents of this area." He added, "existing customers at this office will
continue to be served by a local community bank and will continue to experience
the exceptional level of customer service to which they have become accustomed.
The current bank's staff will be joined by Von Wessinger, a veteran Chapin area
banker who will serve as the bank's Chapin City Executive."
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J. Thomas Johnson, Chairman and Chief Executive Officer of Newberry Federal
Savings Bank, said, "We are pleased that the purchaser of our Chapin branch is
focused on the goal of serving the banking needs of the residents of the Chapin
area. Our decision to sell the Chapin office in no way reflects a shift in our
community banking strategy, but merely permits Newberry Federal Savings Bank to
focus our efforts and gain efficiency improvements."
DutchFork Bancshares, Inc., the holding company for Newberry Federal Savings
Bank, is headquartered in Newberry, South Carolina. Newberry Federal Savings
Bank currently operates out of its four branch offices serving the communities
of Newberry and Lexington Counties, South Carolina.
Once the transfer is complete First Community Bank will have six offices serving
the Midlands of South Carolina. First Community Bank opened in 1995 and has
offices in Lexington, Forest Acres, Irmo, Cayce-West Columbia, and Gilbert.
