Cnb Corp [Sc] (CNBW)

CNB Corp. was incorporated in 1985 in the State of South Carolina. The Company is engaged in the business of banking activities. It is an independent community bank engaged in the general commercial banking business in Horry County and the "Waccamaw Neck" portion of Georgetown County, South Carolina. The company operates almost thirteen other branch offices throughout Horry County and the "Waccamaw Neck" area of Georgetown County. The Bank performs the full range of normal commercial banking functions. Some of the major services provided include checking accounts, money market deposit accounts, IRA accounts, Health Savings Accounts, savings and time deposits of various types and loans to individuals for personal use, home mortgages, home improvement, automobiles, real estate, agricultural purposes and business needs. Commercial lending operations include various types of credit for business, industry, and agriculture. the Bank offers safe deposit boxes, wire transfer services, 24-hour automated teller machines on the STAR Network, internet banking, bank by phone, direct deposits, a MasterCard/Visa program, cash management services, commercial lockbox services, and remote deposit capture. The Bank offers discount brokerage services through a correspondent relationship. The Bank provides long-term mortgage loans through its secondary mortgage department which acts in an agency only capacity for various investors. The majority of the Bank's customers are individuals and small to medium-sized businesses headquartered within the Bank's service area. The Company engages, through the Bank, in a full complement of lending activities, including commercial: loans for commercial purposes in various lines of business. The commercial loans will include both secured and unsecured loans for working capital (including inventory and receivables), loans for business expansion (including acquisition of real estate and improvements), and loans for purchases of equipment; consumer loans: makes a variety of loans to individuals for personal and household purposes, including secured and unsecured installment and term loans, home equity loans and lines of credit and unsecured revolving lines of credit such as credit cards., installment and real estate loans: loan portfolio are loans secured by first or second mortgages on residential and commercial real estate. These loans will consist of commercial real estate loans, construction and development loans and residential real estate loans including home equity and second mortgage loans. The Bank actively competes with other institutions in Horry County and the "Waccamaw Neck" region of Georgetown County in providing customers with deposit, credit and other financial services. The principal competitors of the Bank include local offices of seven regional banks, six state-wide banks, twelve locally owned banks in Horry and Georgetown Counties and various other financial and thrift institutions. Its revenue comes from the business of making loans. The Company and the Bank are subject to an extensive array of state and federal banking laws and regulations which impose specific requirements and restrictions on, and provide for general regulatory oversight with respect to, virtually all aspects of the Company's and the Bank's operations. The Company is affected by government monetary policy and by regulatory measures affecting the banking industry in general.