HCSB Financial Corporation Announces $45 Million Capital Raise and Recapitalization of Horry County State Bank

$45 million investment led by Castle Creek Capital Partners VI, L.P.; Repurchase or redemption of all outstanding Series T preferred stock, trust preferred securities, and subordinated debt; Appointment of Jan Hollar as Chief Executive Officer and the retirement of Jimmy Clarkson; Appointment of other new executive officers and board members [read on]