DIVIDENDS

12 Months Ended

Dec. 31, 2012

Dividends [Abstract]

DIVIDENDS

12. DIVIDENDS

The Bank’s ability to pay dividends to the Company is restricted by the laws and regulations of the State of South Carolina. Generally, these restrictions allow the Bank to pay dividends from current earnings without the prior written consent of the South Carolina Commissioner of Banking, if it received a satisfactory rating at its most recent examination. The Bank paid dividends of $2,160,000 and $1,790,000 to the Company during the years ended December 31, 2012 and 2011, respectively.