CAMDEN, S.C. -- Southern National Bank of South Carolina, a subsidiary of North Carolina-based Southern National Corp., has reached an agreement to sell its Camden office to Colonial Savings Bank of South Carolina Inc.
Colonial, which opened a year ago, has only one other location. It expects to complete the purchase within three months, pending Office of Thrift Supervision approval.
Southern National, entered Camden in 1986 through the acquisition of First Palmetto Bank and Trust of Columbia. The office has about $10 million in deposits and $3 million in loans. Southern National said it intends to focus more on the Columbia area.