South Carolina merger to create $500M-asset bank

BankThink

Community banking M&A Growth strategies South CarolinaCitizens Bancshares has agreed to buy Regional Bankshares for $11 million.

First Citizens to buy small bank in South Carolina

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The North Carolina company agreed to pay $38 million in cash for First South Bancorp. Community banking M&A Capital North Carolina South Carolina

New South Carolina bank raises additional capital

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De novo banks Community banking Capital markets M&A South CarolinaBeacon Community Bank, which opened in January, raised $34 million through a private placement.

South Carolina de novo looks to raise up to $34 million

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Beacon Community Bank seeks to become the first new bank in South Carolina in roughly a decade. Community banking De novo banks Capital South Carolina

First Community to buy Cornerstone in South Carolina

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M&A Growth strategies Capital South CarolinaThe deal, which is expected to close in the fourth quarter, values Cornerstone at $25.8 million.

United Community to buy HCSB Financial in South Carolina

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M&A Capital Growth strategies South CarolinaThe deal is the latest coastal acquisition for United Community. For HCSB, the sale is the final chapter in a turnaround that began 13 months earlier.

South Carolina enacts Servicemembers Civil Relief Act

CFPB Monitor

On April 26, the South Carolina Servicemembers Civil Relief Act (the “Act”) was signed into law and went into immediate effect. The Act expands servicemember protections in a few important ways: the Act’s definition of “military service” covers members of the South Carolina National Guard who are on active duty (as defined by the statute) for a period of more than 30 days; the Act’s protections extend to dependents of servicemembers engaged in military service; and.

Carolina Financial makes bigger inland push with latest bank purchase

BankThink

will by Carolina Trust in western North Carolina for $100 million. Community banking M&A Capital South Carolina North CarolinaThe company, based in Charleston, S.C.,

Moving from Teller Cash Dispensers to Recycling Technology Transformed the Branch Environment at South Carolina's Largest Credit Union

ATM Marketplace

Founders Federal Credit Union prides itself on looking forward to what’s next in banking technology

HCSB in South Carolina Raises $45M, Names New Chief

American Banker

HCSB Financial in Loris, S.C., said Jan Hollar would become its chief executive after a $45 million recapitalization led by Castle Creek Capital Partners. people breaking_news sc dealmaking-strategy community-banking

Carolina Financial to raise $44M in public offering

BankThink

The South Carolina company plans to use proceeds for acquisitions and organic growth. Community banking Capital South Carolina

United Community to Buy Tidelands in South Carolina

American Banker

The deal, expected to close in the third quarter, would set United up to cross over $10 billion in assets, where it would face mandatory stress testing and caps on interchange fees, among other things. breaking_news community-banking m-a ga sc dealmaking-strategy

South State's profit dips due to M&A costs, tax reform hit

BankThink

The South Carolina company also provided a timeline for heightened regulation tied to crossing the $10 billion asset threshold. Community banking Durbin Amendment M&A Earnings South Carolina

South Atlantic Bancshares in S.C. makes first bank acquisition

BankThink

The company agreed to pay $18 million for Atlantic Bancshares in a deal that will increase its operations along South Carolina's coast. Community banking Capital M&A Growth strategies South Carolina

Why this bank finally ended an M&A drought

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First Reliance in South Carolina, which recently announced its first bank acquisition, is angling to take advantage of disruption caused by bigger mergers in the Carolinas. Community banking M&A Growth strategies Capital South Carolina North Carolina

First Citizens plays small ball with coastal S.C. acquisition

BankThink

The North Carolina regional will pay $30 million for the much-smaller Palmetto Heritage Bancshares. Regional banks Community banking M&A Capital Growth strategies North Carolina South Carolina

Banks across the Carolinas assess aftermath of Hurricane Florence

BankThink

The storm dumped a record amount of rain on North Carolina over several days. Natural disasters Disaster recovery Crisis management Community banking Regional banks North Carolina South CarolinaSome sections of the coast remain off limits due to flooded highways.

Mortgage exec gives struggling bank a digital makeover

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Community banking Online banking Digital marketing Virginia North Carolina South CarolinaCasey Crawford, CEO of Movement Mortgage, bought First State Bank in Virginia last year. He has since injected more capital into the bank in an effort to reinvent it.

OCC hits former CertusBank execs with fines, enforcement actions

BankThink

The founders of the South Carolina bank, which liquidated after lavish spending and losses depleted its capital, paid a total of $57,000 in fines and face restrictions on future employment. Capital Enforcement actions Penalties and fines South Carolina

Park in Ohio doubles down in the Carolinas with latest acquisition

BankThink

The company will pay $142 million for Carolina Alliance Bank three months after buying NewDominion in Charlotte, N.C. Community banking M&A Capital Growth strategies North Carolina South Carolina Ohio

Banks in path of Hurricane Florence closing branches

BankThink

With the large storm threatening coasts in Virginia and the Carolinas, some banks are planning to shutter branches for the rest of this week. Natural disasters Community banking Regional banks North Carolina South Carolina Virginia

Wells Fargo layoffs begin with 1,000 mortgage, tech jobs

BankThink

Layoffs Employee terminations Expense management Foreclosures Mortgage applications Employment data Tim Sloan Wells Fargo Iowa South CarolinaWells Fargo will lay off 1,000 workers primarily from its mortgage unit in the first major round of a previously announced plan to cut the bank's workforce by as much as 10% over the next three years.

SC Lawmakers Propose $20 Porn Filter

PYMNTS

In an attempt to crack down human trafficking and explicit online behavior, lawmakers in South Carolina are teeing up a bill that would levy a $20 fee on those who wish to watch internet pornography. The proposed bill , the Human Trafficking Prevention Act, requires computers, tablets and other devices sold within South Carolina to have a mandatory porn filter built into the device. Regulation fine Porn pornography sc sex trafficking South Carolina What's Hot

First Reliance in S.C. raises capital to fund its first bank deal

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Community banking M&A Capital South Carolina North CarolinaThe company, which agreed to buy Independence Bancshares, also brought in $25 million by selling common and preferred stock.

De novo field widens with S.C. group's application

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Community banking De novo banks Capital South CarolinaBeacon Community Bank aims to become the first bank to open in Charleston, S.C., in a decade.

Payday lender to settle fee-practices probe

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Payday lending Consumer lending Subprime lending State regulators Compliance Advance America California South CarolinaCalifornia officials had accused Advance America of wrongly assessing Department of Motor Vehicles fees on its payday loans to skirt the state's interest rate cap.

The other big risk in auto lending

BankThink

Community banking Credit quality Commercial lending Auto industry South CarolinaGrandSouth Bancorp's issues with floor-plan loans to car dealers serve as a reminder of another pitfall in auto lending besides consumer loans.

Why United Community cozied up to a target before buying it

BankThink

The Georgia company invested in HCSB Financial's recapitalization a year before agreeing to buy the coastal South Carolina bank. M&A Commercial lending Deposits South CarolinaDoing so allowed United to stay to close to HCSB and its board, which helped when the time came to discuss a deal.

CAB Financial in S.C. promotes insider as next CEO

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Community banking Succession planning Growth strategies South CarolinaJohn Kimberly, who was CEO of a bank that CAB bought in 2014, is set to take the helm on Jan.

Behind a Georgia bank’s long and winding succession plan

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Community banking Succession planning Strategic planning Georgia North Carolina South Carolina TennesseeLynn Harton was finally named CEO of United Community Bank after a five-year apprenticeship, though Jimmy Tallent remains CEO of the parent company. The executives have long touted an ability to bounce ideas off each other as a reason for United's success.

Ex-Bank One chief McCoy joins board of N.C. bank in sudden tumult

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Community banking Change management Capital markets Private placements Capital North Carolina South CarolinaJust two months after a capital infusion, First Capital Bancshares added banking veterans including John McCoy and Harvey Glick as directors in a board overhaul, changed CEOs, and decided to move its corporate headquarters to Charleston, S.C.

Carolina Financial in S.C. is latest out-of-state bank to expand in North Carolina

BankThink

The company agreed to pay $162 million to buy First South Bancorp in Washington, N.C. It is the fifth time this year that a bank in North Carolina has agreed to be sold to a buyer from another state. Community banking M&A Capital South Carolina North Carolina

Police shoot suspect during CU branch robbery

CU Insight

Police shot and injured a woman after she allegedly robbed a South Carolina Federal Credit Union branch Tuesday morning. South Carolina FCU closed the branch at 4503 Forest Drive in Columbia, S.C. All employees are safe,” South Carolina FCU said in a social media post.

Scott to lead Senate Banking's financial institutions subcommittee

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The South Carolina Republican will take over for Sen. Pat Toomey, R-Pa., as part of a reshuffling of subcommittee assignments. Election 2018 Regulatory reform Pat Toomey Mark Warner Elizabeth Warren Senate Banking Committee

Choosing the right charter for growth

CU Insight

billion South Carolina Federal Credit Union , North Charleston, tried on the community charter in March 2003, which allowed it to serve a number of underserved areas. Credit Unions Industry News CU Management CUES Growth Sam Brownell South Carolina Federal Credit Union

Warren probes ethics officials over Mulvaney's job discussions

BankThink

Elizabeth Warren is asking whether acting White House Chief of Staff Mick Mulvaney's reported talks to be president of the University of South Carolina violated the Stop Trading on Congressional Knowledge Act. Trump administration Elizabeth Warren Mick Mulvaney CFPB

CFPB’s Mulvaney misled Congress about land deal, watchdog says

BankThink

The group says Mulvaney, who also runs OMB, was not totally forthcoming with the Senate Budget Committee about the foreclosure of a property he owns in South Carolina. Corporate ethics Foreclosures Commercial real estate lending Trump administration Mick Mulvaney CFPB

How this tiny black-owned bank is turning itself around with fintech

BankThink

A $52 million-asset African-American-owned bank in South Carolina is hoping its efforts can be expanded to help underbanked consumers nationwide. Fintech Financial inclusion Document imaging Document management Community banking

Carolina Financial to Buy Greer Bancshares in S.C.

American Banker

Carolina Financial in Charleston, S.C., has agreed to buy Greer Bancshares in South Carolina. breaking_news community-banking m-a sc dealmaking-strategy

HCSB Financial in S.C. Freed from Regulatory Order

American Banker

and the South Carolina State Board of Financial Institutions. The $381 million-asset company said its bank was no longer under a consent order with the Federal Deposit Insurance Corp. breaking_news sc community-banking

Main Street, USA = Community Financial Institutions + Small Businesses

ForwardBanker

Since 2016, the team put on more than 20 free seminars taking place in locations from Oregon and Washington state to South Carolina, Texas, and Michigan. Our Small Business Revolution – Main Street team recently finished its 2019 series of small business marketing seminars.

Maine 78

Marketing lessons your credit union can learn from Snoop Dogg

CU Insight

An example of this is the “Great Gas Giveaway” we helped organize with about a dozen marketers and the South Carolina Credit Union League. For $2,000 in gas money, we earned over $50,000 in free press for the Credit Unions of South Carolina. He has never won a Grammy.

ABA Chairman Blanton's Bank to Sell for $335 Million

American Banker

South State in South Carolina has agreed to buy Southeastern Bank Financial in Georgia, which is run by Daniel Blanton, the chairman of the American Bankers Association.