Exhibit 2
---------
AGREEMENT
---------
THIS AGREEMENT by and between Community Savings Bank, Inc., a North
Carolina - chartered savings bank ("Community Savings") and Community Savings
Charitable Foundation, Inc., a North Carolina non-profit corporation (the
"Foundation"), this the 21st day of June, 1999.
W I T N E S S E T H:
-------------------
WHEREAS, Community Savings has today given to the Foundation 100,000
shares of common stock, no par value, of First Community Financial Corporation
(the "Common Stock"); and
WHEREAS, one of the conditions of the gift is that the Foundation will
agree to certain restrictions on the sale of the Common Stock.
NOW, THEREFORE, in consideration of the premises and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Foundation agrees that the amount of Common Stock that may be
sold by the Foundation in any 12 month period shall not exceed 5% of the average
market value of the assets held by the Foundation, except where the Board of
Directors of the Foundation determines that the failure to sell an amount of
Common Stock greater than such amount would result in a long - term reduction in
the value of the Foundation's assets or would otherwise jeopardize the
Foundation's status as a tax exempt organization or its capacity to carry out
its charitable purposes.
WITNESS the signatures of the undersigned, this the day and year first
above written.
COMMUNITY SAVINGS BANK, INC.
By: /s/ X. X. Xxxxxxx
-----------------------------
President
COMMUNITY SAVINGS CHARITABLE
FOUNDATION, INC.
By: /s/ X. X. Xxxxxxx
-----------------------------
President
