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): February 9, 2015

HCSB FINANCIAL CORPORATION

(Exact Name of Registrant As Specified in Its Charter)

   South Carolina    

(State or Other Jurisdiction of Incorporation)

   (843) 756-6333   

(Registrant’s Telephone Number, Including Area Code)

   Not Applicable   

(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 5.02(a) Departure of Directors.

On February 9, 2015, Mr. Carroll D. Padgett, Jr., a director of HCSB Financial Corporation (the “Company”) and Horry County State Bank (the “Bank”), resigned from his position as a director to each of the Company and the Bank, effective as of February 28, 2015. Mr. Padgett notified the Board of Directors of his resignation verbally, stating that he is resigning because he has been appointed as a probate court judge for Horry County.

At the time of his resignation, Mr. Padgett served on the Bank’s Director’s/ TARP Committee, Loan Committee, and the Executive Committee.

The Company does not anticipate immediately filling the vacancy on the board caused by Mr. Padgett’s resignation at this time.

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.