South Carolina

A dozen banks from Arkansas to Virginia are nearing $10 billion in assets, where they will face higher compliance costs and caps on interchange fees. Mergers among those institutions could create a new class of regional bank.

Atlantic Bancshares in Bluffton, S.C., has raised about $4 million to redeem shares issued through the Troubled Asset Relief Program.

Tidelands Bancshares in Mount Pleasant, S.C., has been declared in default on $18.3 million of trust-preferred securities.

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.

Carolina Alliance Bank in Spartanburg, S.C., has exited the Small Business Lending Fund program.

The company plans to eliminate an unknown number of positions, including high-paying job titles such as managing director.

Carolina Financial in Charleston, S.C., has agreed to buy Congaree Bancshares in Cayce, S.C.

Carolina Financial in Charleston, S.C., plans to raise $30 million in a public offering of its common stock.

Coastal Banking in Beaufort, S.C., has agreed to buy First Avenue National Bank of Ocala in Florida.

Coastal Banking in Beaufort, S.C., has redeemed stock that it originally issued as part of the Troubled Asset Relief Program, after it obtained a $10 million loan.