Exhibit 10.13(b)


 




	
  COASTAL
  CAROLINA BANCSHARES, INC.

  2305
  NORTH OAK STREET

  MYRTLE
  BEACH, SC 29577

  	
   

  	
  SCBT,
  N.A.

  950
  JOHN C. CALHOUN DRIVE

  PO
  BOX 9007

  ORANGEBURG,
  SC 29116-9007

  	
   

  	
  RESP
  CODE 660

  Loan Number 12121547

  Date
  04-01-2009

  Maturity
  Date 07-29-2009

  Loan
  Amount $ 2,000,000.00

  Renewal
  Of LOAN #12121547

  
	
  BORROWER’S NAME AND ADDRESS

  	
   

  	
  LENDER’S NAME AND ADDRESS

  	
   

  	
   

  
	
  “I” includes
  each borrower above, jointly and severally.

  	
   

  	
  “You” means the
  lender, its successors and assigns.

  	
   

  	
   

  






 


For
value received, I promise to pay to you, or your order, at your address listed
above the PRINCIPAL sum of TWO MILLION AND NO/100
                                                                                                                                                
Dollars $ 2,000,000.00.


 


	
  o  Single Advance: I will
  receive all of this principal sum on                     .
  No additional advances are contemplated under this note.

  
	
  x  Multiple Advance: The
  principal sum shown above is the maximum amount of principal I can borrow under
  this note. On           

  
	
   

  	
   

  	
                      I
  will receive the amount of $                 and future principal advances are contemplated.

  
	
  Conditions: The conditions for future
  advances are IN ACCORDANCE WITH THE TERMS OF THE COMMITMENT LETTER DATED
  02-29-2008 AND ACCEPTED 03-17-2008 AND THE LINE OF CREDIT AGREEMENT DATED 04-01-2009.

  
	
   

  	
   

  	
   

  
	
  x

  	
   

  	
  Open End Credit: You and I
  agree that I may borrow up to the maximum amount of principal more than one
  time. This feature is subject to all other conditions and expires on
  07-29-2009.

  
	
  o

  	
   

  	
  Closed End Credit: You and I
  agree that I may borrow up to the maximum only one time (and subject to all
  other conditions).

  
	
   

  	
   

  	
   

  
	
  INTEREST: I agree to
  pay interest on the outstanding principal balance from 04-01-2009 at the rate
  of 5.500% per year until 05-01-2009.

  
	
   

  	
   

  	
   

  
	
  x  Variable Rate: This rate
  may then change as stated below.

  
	
  x

  	
   

  	
  Index
  Rate: The future rate will be 1.650 PERCENT ABOVE the
  following index rate: LONDON INTERBANK 

  
	
  OFFERED RATE 90 DAY (LIBOR). RATE WILL BE ADJUSTED ON THE FIRST DAY
  OF THE MONTH BASED ON THE LIBOR RATE PUBLISHED IN THE WALL STREET JOURNAL ON
  THE FIRST DAY OF THE MONTH.

  
	
  o

  	
   

  	
  No
  Index: The future rate will not be subject to any internal
  or external index. It will be entirely in your control.

  
	
  x

  	
   

  	
  Frequency
  and Timing: The rate on this note may change as often as
  EVERY MONTH BEGINNING 05-01-2009.

  
	
   

  	
   

  	
  A change in the interest rate will take effect ON
  THE FIRST DAY OF THE FOLLOWING MONTH.

  
	
  x

  	
   

  	
  Limitations: During the
  term of this loan, the applicable annual interest rate will not be more than
  N/A % or less than 5.500%. The rate may not change more
  than                       
  % each                          .

  
	
  Effect of Variable Rate: A change in
  the interest rate will have the following effect on the payments:

  
	
  x

  	
   

  	
  The
  amount of each scheduled payment will change.

  	
  x  The amount of
  the final payment will change.

  
	
  o

  	
   

  	
                                                                                                                                                                                                    .

  
	
   

  	
   

  	
   

  
	
  ACCRUAL
  METHOD: Interest will be calculated on a ACTUAL/360
  basis.

  
	
  POST
  MATURITY RATE: I agree to pay interest on the unpaid balance of
  this note owing after maturity, and until paid in full, as stated below:

  
	
  x

  	
   

  	
  on
  the same fixed or variable rate basis in effect before maturity (as indicated
  above).

  
	
  o

  	
   

  	
  at
  a rate equal to
                                                                                                                                                                         .

  
	
   

  	
   

  	
   

  
	
  x  LATE CHARGE: If a payment
  is not made within 10 days after it is due, I agree to pay a late charge of
  5.000% OF THE LATE AMOUNT WITH A MIN OF $25.00.

  
	
  o  ADDITIONAL
  CHARGES: In addition to interest, I agree to pay the
  following charges which o are o are not   included in the principal amount
  above:                                                                                                                                                                             .

  
	
   

  	
   

  	
   

  
	
  PAYMENTS:
  I agree to pay this note as follows:

  
	
  MONTHLY
  PAYMENTS OF ACCRUED INTEREST CALCULATED ON THE AMOUNT OF CREDIT OUTSTANDING
  BEGINNING ON 05-01-2009 AND PRINCIPAL DUE ON 07-29-2009. THIS IS A VARIABLE
  RATE LOAN AND THE PAYMENT AMOUNTS MAY CHANGE. THE FINAL PAYMENT MAY ALSO
  CHANGE.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  ADDITIONAL
  TERMS: SEE LINE OF CREDIT AGREEMENT DATED 04-01-2009

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  o  SECURITY:
  This note is separately secured by (describe separate document by
  type and date):

  	
   

  	
  PURPOSE: The purpose
  of this loan is RENEWAL OF LINE OF CREDIT FOR NEW BANK HOLDING COMPANY.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  (This
  section is for your internal use. Failure to list a separate security
  document does not mean the agreement will not secure this note.)

  	
   

  	
  SIGNATURES:
  I AGREE TO THE TERMS OF THIS NOTE (INCLUDING THOSE ON PAGE 2). I have
  received a copy on today’s date.

  
	
   

  	
   

  	
  COASTAL
  CAROLINA BANCSHARES, INC.

  
	
   

  	
   

  	
   

  
	
  Signature
  for Lender

  	
   

  	
  /s/ HOLLY
  L. SCHREIBER

  
	
   

  	
   

  	
  HOLLY
  L. SCHREIBER, CFO

  
	
   

  	
   

  	
   

  
	
  /s/ ALEX
  SHUFORD

  	
   

  	
   

  
	
  ALEX
  SHUFORD, EXECUTIVE VICE PRESIDENT

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SOUTH
  CAROLINA - UNIVERSAL NOTE

  	
   

  	
   

  
	
   © 1984, 1991 Bankers
  Systems, Inc., St. Cloud, MN Form UN-SC 3/7/2002

  
						



 


(Page 1 of 1)

















 


DEFINITIONS: As used on page 1,
“x” means the
terms that apply to this loan. “I,” “me” or “my” means each Borrower who signs
this note and each other person or legal entity (including guarantors,
endorsers, and sureties) who agrees to pay this note (together referred to as “us”).
“You” or “your” means the Lender and its successors and assigns.


 


APPLICABLE
LAW: The law of the state of South Carolina will govern this note. Any term
of this note which is contrary to applicable law will not be effective, unless
the law permits you and me to agree to such a variation.  If any provision of this agreement cannot be
enforced according to its terms, this fact will not affect the enforceability
of the remainder of this agreement. No modification of this agreement may be
made without your express written consent. Time is of the essence in this
agreement.


 


COMMISSIONS
OR OTHER REMUNERATION: I understand and agree that any insurance
premiums paid to insurance companies as part of this note will involve money
retained by you or paid back to you as commissions or other remuneration.


 


In
addition, I understand and agree that some other payments to third parties as
part of this note may also involve money retained by you or paid back to you as
commissions or other remuneration.


 


PAYMENTS: Each payment I
make on this note will first reduce the amount I owe you for charges which are
neither interest nor principal. The remainder of each payment will then reduce
accrued unpaid interest, and then unpaid principal. If you and I agree to a
different application of payments, we will describe our agreement on this note.
I may prepay a part of, or the entire balance of this loan without penalty,
unless we specify to the contrary on this note. Any partial prepayment will not
excuse or reduce any later scheduled payment until this note is paid in full
(unless, when I make the prepayment, you and I agree in writing to the
contrary).


 


INTEREST: Interest
accrues on the principal remaining unpaid from time to time, until paid in
full. If I receive the principal in more than one advance, each advance will
start to earn interest only when I receive the advance. The interest rate in
effect on this note at any given time will apply to the entire principal
advanced at that time. Notwithstanding anything to the contrary, I do not agree
to pay and you do not intend to charge any rate of interest that is higher than
the maximum rate of interest you could charge under applicable law for the
extension of credit that is agreed to here (either before or after maturity).
If any notice of interest accrual is sent and is in error, we mutually agree to
correct it, and if you actually collect more interest than allowed by law and
this agreement, you agree to refund it to me.


 


INDEX
RATE: The index will serve only as a device for setting the rate on this
note. You do not guarantee by selecting this index, or the margin, that the
rate on this note will be the same rate you charge on any other loans or class
of loans to me or other borrowers.


 


ACCRUAL
METHOD: The amount of interest that I will pay on this loan will be calculated
using the interest rate and accrual method stated on page 1 of this note.
For the purpose of interest calculation, the accrual method will determine the
number of days in a “year.” If no accrual method is stated, then you may use
any reasonable accrual method for calculating interest.


 


POST
MATURITY RATE: For purposes of deciding when the “Post Maturity
Rate” (shown on page 1) applies, the term “maturity” means the date of the
last scheduled payment indicated on page 1 of this note or the date you
accelerate payment on the note, whichever is earlier.


 


SINGLE
ADVANCE LOANS: If this is a single advance loan, you and I expect
that you will make only one advance of principal. However, you may add other
amounts to the principal if you make any payments described in the “PAYMENTS BY
LENDER” paragraph below.


 


MULTIPLE
ADVANCE LOANS: If this is a multiple advance loan, you and I
expect that you will make more than one advance of principal. If this is closed
and credit, repaying a part of the principal will not entitle me to additional
credit.


 


PAYMENTS
BY LENDER: If you are authorized to pay, on my behalf, charges
I am obligated to pay (such as property insurance premiums), then you may treat
those payments made by you as advances and add them to the unpaid principle
under this note, or you may demand immediate payment of the charges.


 


SET-OFF: I agree that
you may set off any amount due and payable under this note against any right I
have to receive money from you.


 


“Right to receive money from
you” means:


 


(1) any deposit account
balance I have with you;


 


(2) any money owed to me
on an item presented to you or in your possession for collection or exchange;
and


 


(3) any repurchase
agreement or other nondeposit obligation.


 


“Any amount due and payable
under this note” means the total amount of which you are entitled to demand
payment under the terms of this note at the time you set off. This total includes
any balance the due date for which you properly accelerate under this note.


 


If my right to receive money
from you is also owned by someone who has not agreed to pay this note, your right
of set-off will apply to my interest in the obligation and to any other amounts
I could withdraw on my sole request or endorsement. Your right of set-off does
not apply to an account or other obligation where my rights are only as a
representative. It also does not apply to any Individual Retirement Account or
other tax-deferred retirement account.


 


You will not be liable for
the dishonor of any check when the dishonor occurs because you set off this
debt against any of my accounts. I agree to hold you harmless from any such
claims arising as a result of your exercise of your right of set-off.


 


REAL
ESTATE OR RESIDENCE SECURITY: If this note is secured by
real estate or a residence that is personal property, the existence of a
default and your remedies for such a default will be determined by applicable
law, by the terms of any separate instrument creating the security interest
and, to the extent not prohibited by law and not contrary to the terms of the
separate security instrument, by the “Default” and “Remedies” paragraphs
herein.


 


DEFAULT: I will be in
default if any one or more of the following occur: (1) I fail to make a
payment on time or in the amount due; (2) I fail to keep the property
insured, if required; (3) I fail to pay, or keep any promise, on any debt
or agreement I have with you; (4) any other creditor of mine attempts to
collect any debt I owe him through court proceedings; (5) I die, am
declared incompetent, make an assignment for the benefit of creditors, or
become insolvent (either because my liabilities exceed my assets or I am unable
to pay my debts as they become due); (6) I make any written statement or
provide any financial information that is untrue or inaccurate at the time it was
provided; (7) I do or fail to do something which causes you to believe
that you will have difficulty collecting the amount I owe you; (8) any
collateral securing this note is used in a manner or for a purpose which
threatens confiscation by a legal authority; (9) I change my name or
assume an additional name without first notifying you before making such a
change; (10) I fail to plant, cultivate and harvest crops in due season if
I am a producer of crops; (11) any loan proceeds are used for a purpose that
will contribute to excessive erosion of highly erodible land or to the conversion
of wetlands to produce an agricultural commodity, as further explained in 7
C.F.R. Part 1940, Subpart G, Exhibit M.


 


REMEDIES: If I am in
default on this note you have, but are not limited to, the following remedies:


 


(1) You
may demand immediate payment of all I owe you under this note (principal,
accrued unpaid interest and other accrued charges).


 


(2) You
may set off this debt against any right I have to the payment of money from
you, subject to the terms of the “SET-OFF” paragraph herein.


 


(3) You
may demand security, additional security, or additional parties to be obligated
to pay this note as a condition for not using any other remedy.


 


(4) You may refuse to
make advances to me or allow purchases on credit by me.


 


(5) You may use any
remedy you have under state or federal law.


 


By selecting any one or more
of these remedies you do not give up your right to later use any other remedy.
By waiving your right to declare an event to be a default, you do not waive
your right to later consider the event as a default if it continues or happens
again.


 


COLLECTION
COSTS AND ATTORNEY’S FEES: I agree to pay all costs of
collection, replevin or any other or similar type of cost if I am in default.
In addition, if you hire an attorney to collect this note, I also agree to pay
any fee you incur with such attorney plus court costs (except where prohibited
by law). To the extent permitted by the United States Bankruptcy Code, I also
agree to pay the reasonable attorney’s fees and costs you incur to collect this
debt as awarded by any court exercising jurisdiction under the Bankruptcy Code.


 


WAIVER: I give up my
rights to require you to do certain things, I will not require you to:


 


(1) demand
payment of amounts due (presentment);


 


(2) obtain
official certification of nonpayment (protest); or


 


(3) give
notice that amounts due have not been paid (notice of dishonor).


 


I
waive any defenses I have based on suretyship or impairment of collateral.


 


OBLIGATIONS
INDEPENDENT: I understand that I must pay this note even if someone
else has also agreed to pay it (by, for example, signing this form or a
separate guarantee or endorsement). You may sue me alone, or anyone else who is
obligated on this note, or any number of us together, to collect this note. You
may without notice release any party to this agreement without releasing any
other party. If you give up any of your rights, with or without notice, it will
not affect my duty to pay this note. Any extension of new credit to any of us,
or renewal of this note by all or less than all of us will not release me from
my duty to pay it. (Of course, you are entitled to only one payment in full.) I
agree that you may at your option extend this note or the debt represented by
this note, or any portion of the note or debt, from time to time without limit
or notice and for any term without affecting my liability for payment of the
note. I will not assign my obligation under this agreement without your prior
written approval. You may, without notice, fail to perfect your security
interest in, impair, or release any security and I will still be obligated to
pay this loan.


 


FINANCIAL
INFORMATION: I agree to provide you, upon request, any financial
statement or information you may deem necessary. I warrant that the financial
statements and information I provide to you are or will be accurate, correct
and complete.


 


NOTICE: Unless
otherwise required by law, any notice to me shall be given by delivering it or
by mailing it by first class mail addressed to me at my last known address. My
current address is on page 1. I agree to inform you in writing of any
change in my address. I will give any notice to you by mailing it first class
to your address stated on page 1 of this agreement, or to any other
address that you have designated.


 


WAIVER
OF HEARING PRIOR TO IMMEDIATE POSSESSION: If this loan is for a business
purpose I agree to waive the right to five days’ notice and a preseizure hearing
prior to seizure of any personal property which may secure this loan.


 


	
   

  	
   

  	
   

  	
   

  	
  BORROWER’S

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  INTEREST

  	
   

  
	
  DATE OF

  	
   

  	
  PRINCIPAL

  	
   

  	
  INITIALS

  	
   

  	
  PRINCIPAL

  	
   

  	
  PRINCIPAL

  	
   

  	
  INTEREST

  	
   

  	
  INTEREST

  	
   

  	
  PAID

  	
   

  
	
  TRANSACTION

  	
   

  	
  ADVANCE

  	
   

  	
  (not required)

  	
   

  	
  PAYMENTS

  	
   

  	
  BALANCE

  	
   

  	
  RATE

  	
   

  	
  PAYMENTS

  	
   

  	
  THROUGH:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
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   © 1984, 1991 Bankers Systems, Inc., St. Cloud,
  MN Form UN-SC 3/7/2002

  	
  

  



 


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