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First Community Corporation and DeKalb Bankshares, Inc. Announce Merger Plans.

Publication: PR Newswire
Publication Date: 08-DEC-05 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
LEXINGTON, S.C., and CAMDEN, S.C., Dec. 8 /PRNewswire-FirstCall/ -- First Community Corporation has signed a letter of intent to acquire DeKalb Bankshares, Inc.

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

The merger between the Lexington-based parent of First Community Bank and the Camden, S.C.-based parent of The Bank of Camden, valued at $9.9 million and anticipated to close by the end of the second quarter of 2006, will create a 12-office banking company with more than $500 million in assets across the South Carolina Midlands. The total consideration to be paid by First Community to DeKalb Bankshares shareholders would be approximately $15.50 per share, 75% in First Community Corporation common stock and 25% in cash, based on the recent prices of First Community Corporation common stock.

Upon completion of the merger, First Community Bank will have full-service banking offices, in addition to Camden, in Lexington, Forest Acres, Irmo, Cayce-West Columbia, Gilbert, Chapin, Northeast Columbia, Newberry (2), Prosperity, and Red...

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