North Carolina

Waccamaw Bankshares Inc. in Whiteville, N.C., said Friday that the Nasdaq stock market has given the company until June 3 to submit a plan to regain compliance.

Park Sterling Corp. in Charlotte, N.C., said Thursday that it has agreed to buy Community Capital Corp. of Greenwood, S.C.

Southern Community Financial Corp. in Winston-Salem, N.C., has revised its Dec. 31 results downward to reflect an addition to its valuation allowance against deferred tax assets.

Southern Community Financial Corp. said Thursday that it has formed a small-business division. The Winston-Salem, N.C., company will place a small-business banker in all 22 branches.

FNB United Corp. in Asheboro, N.C., was out of equity at the end of 2010, prompting it to warn about its future. The $1.9 billion-asset company said Monday in its annual report filed with the Securities and Exchange Commission that there is substantial doubt about its ability to continue as a going concern.

North American Financial Holdings Inc. has informed its equity investors that it is thinking about consolidating all its recent bank purchases.

State Employees' Credit Union in Raleigh, N.C., is cutting interest rates on its Salary Advance Loan by as much as 50%.

Crescent Financial Corp. in Raleigh, N.C., said late Wednesday that it is selling a majority stake to a bank holding company in return for a $75 million investment.

Four Oaks Fincorp Inc. in North Carolina is on the hunt for capital after a large fourth-quarter loss. The $950 million-asset company said its loss in the quarter widened from $1.7 million a year earlier to $19.4 million.

Southern Community Financial Corp. of Winston-Salem, N.C., said Thursday that its bank has signed a consent order requiring it to reduce problem loans and maintain capital levels.

Yadkin Valley Financial Corp. of Elkin, N.C., said late Tuesday that it had named an insider to become its next president and chief executive.

The State Employees' Credit Union in Raleigh, N.C., started an estate planning and will preparation pilot program last week.

Despite having private-equity commitments, the $2 billion-asset United Western Bank in Denver failed Friday. Regulators also closed banks in the Carolinas and Georgia.

North American Financial Holdings Inc. is one step closer to having its flagship bank. The bank holding company, which is backed by $900 million of equity from various investors, received approval Friday from the Federal Reserve to buy an 85% ownership stake in Capital Bank Corp. of Raleigh, N.C.

Bank of Commerce in Chalotte, N.C., on Tuesday reported a loss of $1.3 million for the fourth quarter.

First Citizens BancShares in Raleigh, N.C., has finally combined its two main subsidiaries. The $21 billion-asset company said IronStone Bank, its thrift, merged into First Citizens Bank, a state-chartered bank, on Friday.

It's unlikely that SunTrust Bank wanted to become a part owner of a small North Carolina bank when it made a $15 million loan nearly three years ago.

Carolina Trust Bank in Lincolnton, N.C., raised $6.3 million after selling 2.1 million shares of common stock.

Shareholders of Capital Bank Corp. have approved the sale of a majority stake in the Raleigh, N.C., company to North American Financial Holdings Inc.

Regulators have prohibited Weststar Financial Services Corp. in Asheville, N.C., from paying dividends or reducing the capital at its bank unit without permission.