Bailout Bank Bio: Congaree Bancshares

Jul 29, 2009 | 2 min read | Print Article

Congaree Bancshares , Inc. operates as the holding company for Congaree State Bank, which provides various banking products and services to consumers and small- to mid-size businesses, and professional concerns principally in Richland and Lexington Counties, South Carolina. It offers various deposit products, including checking accounts, NOW accounts, commercial accounts, savings accounts, money market accounts, certificates of deposit, and individual retirement accounts. The company’s loan portfolio comprises real estate loans, including residential real estate loans, commercial real estate loans, real estate construction loans, and loans secured by real estate mortgages; commercial loans, such as equipment loans and working capital loans; and equity and consumer loans, such as loans to individuals for personal and household purposes, including secured and unsecured installment loans and revolving lines of credit, such as credit cards. Congaree Bancshares also provides other banking services, including online banking, commercial cash management, remote deposit capture, safe deposit boxes, bank official checks, traveler’s checks, wire transfer capabilities, direct deposit of payroll and social security checks, banking by mail, and U.S. Savings Bonds, as well as debit card and credit card services. It operates through its main office in Cayce and offices in West Columbia and Sunset, South Carolina. The company was founded in 2005 and is headquartered in Cayce, South Carolina.

In January the company began participating in the Treasury Department’s Capital Purchase Program . Under the program, Congaree received $3.3 million in exchange for preferred stock and warrants.

Federal Equity Investment

$3.3 million

Total Revenue

$6.7 million (2008)

Net Income (Loss)

($3.3 million) (2008)

Number of Employees

Corporate Headquarters

Cayce, SC

Business Sector

Banking

Officers and Directors