Beach First National Agrees To Get Fed Approval To Incur Debt
18 February 2010 - 3:30AM
Dow Jones News
A South Carolina lender has agreed not to pay dividends or take
on debt without Federal Reserve approval.
The Fed on Wednesday released its agreement with Beach First
National Bancshares Inc. (BFNB) of Myrtle Beach.
The company owns Beach First National Bank.
The company agreed not to declare or pay dividends without Fed
consent. It also agreed not to incur, increase or guarantee debt
without approval.
-By Jeff Bater, Dow Jones Newswires; 202-862-9249;
jeff.bater@dowjones.com
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