Two South Carolina banking companies announced late Wednesday that they are suspending their merger plans because of a recently filed lawsuit against the would-be buyer.

RHBT Financial Corp. of Rock Hill's postponement of its purchase of $79 million-asset Ridgeway Bancshares came about four weeks after participants in an investment program alleged in the lawsuit that Rock Hill Bank, a subsidiary of $199 million-asset RHBT, and one of its loan officers broke a contract and conspired to defraud the participants.

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