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<ownershipDocument>

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    <periodOfReport>2010-12-29</periodOfReport>

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    <issuer>
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        <issuerName>WACCAMAW BANKSHARES INC</issuerName>
        <issuerTradingSymbol>WBNK</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001259125</rptOwnerCik>
            <rptOwnerName>GRAHAM JAMES G</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>P.O. BOX 2009</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>WHITEVILLE</rptOwnerCity>
            <rptOwnerState>NC</rptOwnerState>
            <rptOwnerZipCode>28472</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>President &amp; CEO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

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    <footnotes>
        <footnote id="F1">Waccamaw Bankshares, Inc. Common Stock Direct Purchase Plan</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>James G. Graham by April B. Wilson, POA</signatureName>
        <signatureDate>2010-12-29</signatureDate>
    </ownerSignature>
</ownershipDocument>
