UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) April 13, 2011
Waccamaw Bankshares, Inc.
(Exact name of registrant as specified in its charter)
| North Carolina | 001-33046 | 52-2329563 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
| 110 North J. K. Powell Boulevard, Whiteville, NC | 28472-3008 | |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code (910) 641-0044
N/A
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On April 13, 2011, Waccamaw Bankshares, Inc. (the “Company”), received notice of James G. Graham’s resignation from the boards of directors of the Company and its wholly owned subsidiary, Waccamaw Bank (the “Bank”). Mr. Graham’s resignation from the boards of directors of the Company and the Bank was effective immediately.
In its Current Report on Form 8-K filed with the Securities and Exchange Commission on January 6, 2011, the Company announced Mr. Graham’s retirement from his positions as president and chief executive officer of the Company and the Bank and also announced that Mr. Graham would continue to serve on the boards of directors of the Company and the Bank for the remainder of his current term of office, which was to expire at the 2011 annual meeting of shareholders. At the time of that announcement, it was expected that Mr. Graham would continue to serve as a director until the 2011 annual meeting of shareholders.
Mr. Graham’s resignation was not due to any disagreement with the Company or the Bank.
This current report on Form 8-K (including information included or incorporated by reference herein) may contain, among other things, certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, (i) statements regarding certain of the registrant’s goals and expectations with respect to earnings, income per share, revenue, expenses and the growth rate in such items, as well as other measures of economic performance, including statements relating to estimates of credit quality trends, and (ii) statements preceded by, followed by or that include the words “may,” “could,” “should,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “projects,” “outlook,” or similar expressions. These statements are based upon the current belief and expectations of the registrant’s management and are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond the registrant’s control).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Waccamaw Bankshares, Inc. |
| (Registrant) |
Date April 26, 2011
| /s/ Geoffrey R. Hopkins |
| Geoffrey R. Hopkins |
| President |