08/21/2017
First Community Corporation and Cornerstone Bancorp Receive Regulatory Approvals for Pending Merger
First Community Corporation (“First Community”) (Nasdaq: FCCO), the holding company for First Community Bank, and Cornerstone Bancorp (“Cornerstone”), the holding company for Cornerstone National Bank, today announced that the Federal Deposit Insurance Corporation and the South Carolina Board of Financial Institutions have granted the regulatory approvals necessary for the merger of Cornerstone with and into First Community. The merger is expected to close on October 20, 2017, subject to the approval of Cornerstone’s shareholders at a special meeting to be held on September 19, 2017 and the satisfaction or waiver of other customary closing conditions.