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State Board of Financial Institutions approves three branch actions after executive session
Summary
Following an executive session, the State Board of Financial Institutions voted unanimously to approve United Community Bank and Southern First Bank branch applications and to allow Curis Financial Credit Union to close a branch; approvals are subject to conditions set by the Commissioner of Banking.
The South Carolina State Board of Financial Institutions voted unanimously Feb. 4 to approve three actions related to bank branches after returning from executive session.
On a motion by Thomas Bouchette, seconded by F. Justin Strickland, the board approved United Community Bank's application to establish a branch at 58805884 Sunset Drive, South Miami, Florida, subject to any conditions provided by the Commissioner of Banking. The board also approved Southern First Bank's application to open a branch at 200 E. Chatham Street, Cary, North Carolina, and approved Curis Financial Credit Union's request to close its branch at 200 Fleetwood Drive in Easley, South Carolina; both approvals were moved and seconded during open session and are likewise subject to any conditions set by the Commissioner of Banking in executive session.
General Counsel Shawn Eubanks had stated before the executive session, "the Board will enter Executive Session to discuss information about and review requests by regulated entities and to receive legal advice as needed," explaining the board's rationale for the in‑camera review. The minutes record that no votes were taken while in executive session except the formal vote to exit.
The board recorded the motions and approvals in the meeting minutes; the record does not list separate roll-call tallies. Chairman Curtis M. Loftis, Jr. closed the meeting after announcing administrative reminders and the date of the next meeting.
