FEDERAL DEPOSIT INSURANCE CORPORATION
The Federal Deposit Insurance Corporation (“FDIC”) is the appropriate Federal banking agency for
Congaree State Bank, West Columbia, South Carolina (“Bank”), under 12 U.S.C. § 1813(q).
The Bank, by and through its duly elected and acting Board of Directors (“Board”), has executed a
“Stipulation to the Issuance of a Consent Order” (“STIPULATION”), dated May 11, 2010, that is accepted by
the FDIC and the Commissioner of Banking (“Commissioner”) on behalf of the State Board of Financial
Institutions for the State of South Carolina (“State Board”). With the STIPULATION, the Bank has consented,
without admitting or denying any charges of unsafe or unsound banking practices and violations of law and/or
regulation relating to asset quality, capital adequacy, earnings, management effectiveness, liquidity, and sensitivity
to market risk, to the issuance of this Consent Order (“ORDER”) by the FDIC and the State Board.
Having determined that the requirements for issuance of an order under 12 U.S.C. § 1818(b) and S.C.
Code Ann. § 34-1-60 have been satisfied, the FDIC and the State Board hereby order that:
In the Matter of
CONGAREE STATE BANK
WEST COLUMBIA, SOUTH CAROLINA
(Insured State Nonmember Bank)
BOARD OF DIRECTORS
1. (a) Effective immediately, the Board shall increase its participation in the affairs of the Bank,
assuming full responsibility for the approval of sound policies and objectives and for the supervision of all of the
Bank’s activities, consistent with the role and expertise commonly expected for directors of banks of comparable
size. The Board shall prepare in advance and follow a detailed written agenda for each meeting, including
consideration of the actions of any committees. Nothing in the