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May 04, 2015 9:37 PM ET

Banks

Company Overview of First National Bancshares Inc.

Company Overview

First National Bancshares, Inc. operates as the holding company for First National Bank of the South that provides various financial services to individuals and small- to mid-size businesses in South Carolina. It generates various deposits, including checking accounts, commercial accounts, savings accounts, and other time deposits, such as daily money market accounts and certificates of deposit. The company’s loan portfolio includes real estate mortgage loans comprising one-to-four family residential real estate loans, multi-family residential real estate loans, home equity loans, commercial real estate loans, and land loans; commercial real estate loans; individual residential real estate l...

215 N Pine Street

Spartanburg, SC 29302

United States

Founded in 1999

124 Employees

Phone:

864-948-9001

Fax:

864-281-0890

Key Executives for First National Bancshares Inc.

First National Bancshares Inc. does not have any Key Executives recorded.

First National Bancshares Inc. Key Developments

SEC Revokes Registration Of Registered Securities Of First National Bancshares

An Administrative Law Judge has issued an Initial Decision of Default as to First National Bancshares, Inc. The Initial Decision found that the company was issuer of securities registered pursuant to Section 12(g) of the Securities Exchange Act of 1934 (Exchange Act), and the company failed to comply with Section 13(a) of the Exchange Act and Exchange Act Rules 13a-1 and/or 13a-13 by not filing required periodic reports with the Securities and Exchange Commission (SEC). The Initial Decision finds these allegations to be true and revokes the registration of each class of the company’s registered securities, pursuant to Section 12(j) of the Securities Exchange Act of 1934.

SEC Orders Hearings On Registration Suspension Or Revocation Against First National Bancshares, Inc. For Failure To Make Required Periodic Filings

Securities and Exchange Commission (SEC or the commission) instituted public administrative proceeding to determine whether to revoke or suspend for a period not exceeding twelve months the registration of each class of the securities of First National Bancshares, Inc. for failure to make required periodic filings with the Commission. In this Order, the Division of Enforcement (Division) alleges that the company was delinquent in its required periodic filings with the Commission. In this proceeding, instituted pursuant to Exchange Act Section 12(j), a hearing will be scheduled before an Administrative Law Judge. At the hearing, the judge will hear evidence from the Division and the company to determine whether the allegations of the Division contained in the Order, which the Division alleges constitute failures to comply with Exchange Act Section 13(a) and Rules 13a-1 and 13a-13 there under, are true. The judge in the proceeding will then determine whether the registrations pursuant to Exchange Act Section 12 of each class of the securities of the company should be revoked or suspended for a period not exceeding twelve months. The Commission ordered that the Administrative Law Judge in this proceeding issue an initial decision not later than 120 days from the date of service of the order instituting proceeding.

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