SC Community Bank looks to new CEO

The State paper recently ran a thorough piece regarding the woeful shape of the Palmetto State’s lone minority-owned bank.

South Carolina Community Bank, created after the failure of Victory State Bank in 1999, is in trouble, The State reported.

Over the past two years, the bank has lost hundreds of thousands of dollars, been placed under a consent order by the Federal Deposit Insurance Corp., has been the victim of embezzlement by a high-ranking executive and has seen a pair of shareholder lawsuits filed in Richland County.

In addition, current Chief Executive Clente Flemming is having financial difficulties of his own, according to The State.