UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 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):  May 25, 2011

Congaree Bancshares, Inc.

(Exact name of registrant as specified in its charter)

South Carolina

(State or other jurisdiction of incorporation)

(803) 794-2265

(Registrant’s telephone number, including area code)

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):

o    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 5.07.  Submission of Matters to a Vote of Security Holders.

On May 25, 2011, Congaree Bancshares, Inc. (the “Company”) held its 2011 Annual Meeting of Shareholders.  At the meeting, of the 1,764,439 shares of common stock outstanding and entitled to vote, 898,853 were present in person or by proxy, and the following matters were voted upon and approved by the Company’s shareholders:

The following is a summary of the voting results for each matter presented to the shareholders:

Election of Directors

Non-Binding Resolution with Respect to Executive Compensation

Ratification of the Appointment of Elliott Davis, PLLC

ITEM 8.01 Other Information.

On May 13, 2011, the Company paid to the U.S. Treasury, pursuant to the Capital Purchase Program (“CPP”), the amount of $277,559, constituting payment in full of the current quarter’s dividend payment and the five deferred quarterly dividend payments.  As part of the CPP, the Company entered into a letter agreement with the Treasury on January 9, 2009, which includes a Securities Purchase Agreement-Standard Terms.  Under this agreement, dividends compound if they accrue and are not paid.  Failure by the Company to pay the dividend on the shares of Series A Preferred Stock is not an event of default.  The Company is now current on its dividend obligations to Treasury.

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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.

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