First Community holds 10th annual shareholders’ meeting

2005-05-20 / Business

By John Temple Ligon

Will McMaster of Scott & Stringfellow Securities and Mike Crapps, CEO, First Community Bank

At 11 am Wednesday, Jim Leventis, chairman of the board, addressed the shareholders of First Community Corporation, parent of First Community Bank. Mike Crapps, president and CEO, and Tommy Johnson, vice chairman and executive vice president, also participated in the standing room only event at Saluda Shoals Park River Center on Bush River Road. Last year the annual meeting was held in the clubhouse at Golden Hills Country Club near Lexington.

Crapps has been CEO for the full 10 years of First Community Bank, while Johnson joined as part of last year’s merger with his DutchFork Bancshares, also known as Newberry Federal Savings. Johnson in the mid–60s was a gasoline delivery service specialist with John Temple Ligon and Wally Lewis at the Devine & Ott Esso.

In 2004, First Community Bank’s growth included an expansion from six locations to 11 banking offices, an assets increase from $215 million to $455 million, and total deposits reached $337 million. Net income was $2.185 million, and diluted earnings per share came to $1.09.

By 11:45 the meeting had concluded, and the crowd adjourned for a Tronco’s catered lunch.

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