Tidelands Bank has entered into consent orders with the Federal Deposit Insurance Corp. and the SC State Board of Financial Institutions, effective Dec. 28, as a result of the regulators’ annual joint examination earlier this year.
According to information filed with the US Securities and Exchange Commission, Mt. Pleasant-based Tidelands, a subsidiary of Tidelands Bancshares, is required to take myriad actions as a result of the consent order, including:
- Ensure that the bank has competent management in place;
- Achieve Tier 1 capital at least equal to 8 percent of total assets and total risk-based capital at least equal to 10 percent of total risk-weighted assets within 150 days and establish a capital plan that includes a contingency plan to sell or merge the bank;
- Implement a plan addressing liquidity, contingency funding, and asset liability management;
- Implement a program designed to reduce the bank’s exposure in problem assets; develop a three-year strategic plan;
- Not declare or pay any dividends or bonuses or make any distributions of interest, principal, or other sums on subordinated debentures without prior regulatory approval;
- Limit asset growth to 10 percent a year; and
- Address various violations of law and regulation cited by the FDIC.
A study by US researchers reveals that Neanderthals cooked and ate plants and vegetables.
The research, published in the Proceedings of the National Academy of Sciences, found grains of cooked plant material in the teeth of Neanderthals.
The study is the first to confirm that the Neanderthal diet was not confined to meat and was more sophisticated than previously thought, according to the BBC.
As South Carolina commemorates the 150th anniversary of its secession from the Union, archeologists are providing details about some of the final days of the resulting war.
Wednesday, South Carolina’s state archaeologist discussed the recent discovery of what is believed to be the Confederate gunboat CSS Pee Dee, scuttled by its own crew in the Civil War’s waning days.
In November, Jonathan Leader — state archaeologist and researcher at the University of South Carolina — worked with fellow researcher Chris Amer to explore the Pee Dee River in the northeastern part of the state.
Using sonar to search underwater, the team found large bolts in a straight line, evidence Leader says likely means they’ve found a ship, according to The Associated Press.
They believe the find could yield valuable knowledge about the South’s attempts to maintain its own navy.
It’s been nearly 80 years since a representative was seated in South Carolina’s 7th Congressional District, but that will change in two years when the Palmetto State adds a bit of political clout as a result of the 2010 Census.
The last man to hold the seat was Hampton Fulmer, elected in 1921. He served until 1933, when the 7th was eliminated as a result of the 1930 census. Fulmer simply took over the 2nd Congressional District seat at that point and served until his death in 1944.
The 7th district has been eliminated before, as well. The seat was done away with in 1853, as a result of the 1850 census. It was added back in 1883.
Some of the individuals who have held the seat include:
The handful of you who read this blog may have figured out that I enjoy the study of history. There are many periods, particularly during the past 500 years, that would be fascinating to have been a part of, at least in my opinion.
Nevertheless, there are two big reasons that exist that clearly illuminate why I’m glad to be alive now and not, say, 150 years ago: modern plumbing and modern dentistry. We’ve got it pretty good today, even if many of us don’t realize it.
Here, Bryan Caplan of EconLog captures the difference between what the average American has today and what George Vanderbilt, one of the richest Americans of the late 19th and early 20th centuries, didn’t:
A columnist for The Economist takes on the question that has confounded sorority girls, prolific emailers and rookie receptionists for years: When to use an exclamation point?
It’s difficult to receive more than half a dozen emails without getting at least as many exclamation points.
- “Thanks for your help!”
- “Lunch is here!!”
- “Have a nice day!!!”
The Nerve, the investigative reporting arm of the SC Policy Council, broke a story Wednesday that South Carolina Research Authority Chairman Bill Masters, tired of the obstruction and obfuscation of his fellow board members and SCRA management, plans to resign within the next few weeks.
Masters, named to SCRA’s board by Gov. Mark Sanford last year, has been met with resistance from Day One. For example, earlier this fall, Masters, citing the state’s troubled budget, voted against giving substantial raises to SCRA employees and executives.
Masters was the lone SCRA board member to vote against the proposal.
And last month, Masters called for “an independent investigation into the trustworthiness” of Research Authority Chief Executive Bill Mahoney, another story broken by The Nerve, for whom, in the interests of full disclosure, I work.
So how did the rest of the South Carolina media react to word that Masters, chairman of one of key state-run economic development agencies in South Carolina, react to word of his impending resignation. It didn’t.
Bob Feller, one of the true greats of Major League baseball, died Wednesday of leukemia at age 92.
Despite missing 44 months at the height of his career while serving in the military during World War II, Feller posted a lifetime record of 266-162 record, struck out 2,581 batters, including 348 in the 1946 season, and threw three no-hitters and 12 one-hitters.
He also led Cleveland to its last World Series victory, in 1948.
So what did Feller get as a signing bonus for putting his name on a contract with the Indians in July 1936, when he was only 16 years old? Just $1 and an autographed baseball.
Scientists say they have identified an embalmed head as belonging to the French monarch who converted to Catholicism with the famous phrase “Paris is worth a Mass.”
Henri IV was assassinated by a Catholic fanatic at age 57 some 400 years ago. His conversion in 1594 from Calvinism ended France’s wars of religion.
Henri, one of France’s most popular monarchs, was buried in the Basilica of Saint Denis near Paris, but during the frenzy of the French Revolution in 1793, the royal graves were dug up and revolutionaries chopped off Henry’s head, which was then snatched, according to the Daily Mail.
A head, presumed to be that of Henri IV, has passed between private collectors since then, the BBC reported.