South Carolina

ALEXANDRIA, Va. — NCUA has chartered its first credit union of 2014, with the new CU expected to open its doors this June.

Charles M. Williams, co-chief executive of CertusBank, has quit the Greenville, S.C., company amid allegations of gross mismanagement.

Bay Banks of Virginia in Kilmarnock is adjusting its 2013 financial results after unloading a troubled asset.

Park Sterling Corp. (PSTB) in Charlotte has agreed to buy Provident Community Bancshares (PCBS) in Rock Hill, S.C.

Oconee Federal Financial Corp. (OFED) in Seneca, S.C., has agreed to buy Stephens Federal Bank in Toccoa, Ga.

First Financial Holdings (SCBT) of Columbia, S.C., reported net income Tuesday of $13.2 million for the fourth quarter of 2013, a 44.7% increase from the same quarter in 2012.

Palmetto Bancshares (PLMT) in Greenville, S.C., is combining its chairman and chief executive roles.

The small-dollar lender First Cash Financial Services (FCFS) has agreed to buy a 12-store pawnshop chain in the Charleston, S.C., area.

First Financial Holdings (SCBT) in Columbia, S.C., reported a 26% rise in quarterly profit after completing a transformative M&A deal.

Former Citigroup executive Gordon Baird plans to launch an application at Independence Bancshares that ties together mobile banking and real-time processing – a technology that some industry experts say could revolutionize banking.

Synovus Financial (SNV) in Columbus, Ga., has formed an equipment-finance division. The group will be based in Charleston, S.C., the $26 billion-asset Synovus said Thursday.

CresCom Bank in Myrtle Beach, S.C., has agreed to buy a branch from First Carolina Bancshares in Waterboro, S.C.

Coastal Banking Co. (CBCO) in Beaufort, S.C., swung to a profit in the second quarter, aided mightily by an accounting reversal.

First Community (FCCO) in Lexington, S.C., has agreed to buy Savannah River Financial in Augusta, Ga.

Carolina Alliance Bank (CRLN) in Spartanburg, S.C., has agreed to buy Forest Commercial Bank in Asheville, N.C.

The $857 million-asset company tapped Jerry Rexroad to succeed John Russ, a company spokeswoman said on Thursday. Rexroad has been chairman and CEO of affiliate Crescent Mortgage.

The Greenville, S.C., bank will acquire Resource Financial Services, which has eight offices in five states. CertusBank did not disclose the price it will pay for the four-year-old company.

Palmetto Bancshares in Greenville, S.C., is shedding more than $40 million of problem loans as part of its ongoing effort to clean up its balance sheet and return to profitability.

Coastal Banking Company in Beaufort, S.C., has become the latest community bank to take advantage of a new law that relieves small banks from the burden of filing financial reports with the Securities and Exchange Commission.

WASHINGTON — On the heaviest night of bank closures this year, regulators across four states shuttered a total of five institutions, bringing the year’s failure total to 22 and costing the Federal Deposit Insurance Corp. more than $270 million.