June 22, 2010

Written agreement with Waccamaw Bankshares and Waccamaw Bank

For immediate release

The Federal Reserve Board on Tuesday announced the execution of a Written Agreement by and among Waccamaw Bankshares, Inc., Whiteville, North Carolina, a registered bank holding company, its subsidiary bank, Waccamaw Bank, Whiteville, North Carolina, a
state-chartered member bank, the Federal Reserve Bank of Richmond, and the State of North Carolina, Office of the Commissioner of Banks.

A copy of the Written Agreement is attached.

Last Update: June 22, 2010