# UNITED STATES
SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

# FORM 10-QSB

(Mark One)

|X | QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
|- | ---------------------------------------------------------------------------------

| | For the Quarterly Period Ended September 30, 2006
| | -------------------------------------------------

| | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
| | ----------------------------------------------------------------------------------------

| | For the Transition Period from ___________ to _____________
| | -----------------------------------------------------------

Commission file number
333-127409

BANKGREENVILLE FINANCIAL CORPORATION(Exact name of small business issuer as specified in its charter)

|South Carolina               |  | 20-2645711         
|---------------------------- |  | -------------------
|(State or other jurisdiction |  | (I.R.S. Employer   
|of incorporation)            |  | Identification No.)

499 Woodruff RoadGreenville, South Carolina 29607
(Address of principal executive offices)

(864) 335-2200(Issuers telephone number)

______________________________

Check whether  the issuer (1) has filed all reports required  to be filed by Section 13 of 15(d) of the
Securities Exchange Act of 1934 during the past 12 months (or for such shorter period that the registrant  was required to file such reports),  and
(2) has been subject to such filing requirements for the past 90 days.  Yes          No

Indicate by check mark whether the registrant is shell company
as defined in Rule 12b-2 of the Exchange Act.  Yes          No

State
the number of shares outstanding of each of the issuers classes of common equity, as
of the latest practicable date: 1,180,000 shares of common stock, no par value, outstanding as of November 10, 2006.

Transitional Small Business Disclosure Format (check one)
  Yes          No

---

Table of Contents

|                      | 
|--------------------- | 
|Part I                | 
|Financial Information | 
|Item 1                | 
|Item 2                | 
|Item 3                | 
|Part II               | 
|Other Information     | 
|Item 1                | 
|Item 2                | 
|Item 3                | 
|Item 4                | 
|Item 5                | 
|Item 6                | 
|SIGNATURES            | 
|EXHIBIT INDEX         | 
|Exhibit 31.1          | 
|Exhibit 31.2          | 
|Exhibit 32            | 

---

# BankGreenville
Financial Corporation

# Part I  Financial
Information

# Item
1.   Financial Statements

# Consolidated Balance
Sheets

|                                                       | September 30, 2006 | December 31, 2005
|------------------------------------------------------ | ------------------ | -----------------
|
|
|
|
|
|Assets                                                 |                    |                  
|Cash and due from banks                                |                    |                  
|Federal funds sold                                     |                    |                  
|                                                       |                    |                  
|Total cash and cash equivalents                        |                    |                  
|Investment securities available for sale               |                    |                  
|Loans, net                                             |                    |                  
|Land and land improvements                             |                    |                  
|Equipment, net                                         |                    |                  
|Deposits on bank equipment and computer systems        |                    |                  
|Building construction-in-progress                      |                    |                  
|Earnest money deposit on land                          |                    |                  
|Other assets                                           |                    |                  
|                                                       |                    |                  
|Total assets                                           |                    |                  
|                                                       |                    |                  
|Liabilities and Shareholders' Equity                   |                    |                  
|Liabilities                                            |                    |                  
|Deposits                                               |                    |                  
|Non-interest bearing                                   |                    |                  
|Interest bearing                                       |                    |                  
|                                                       |                    |                  
|Total deposits                                         |                    |                  
|Accounts payable and accrued liabilities               |                    |                  
|                                                       |                    |                  
|Total liabilities                                      |                    |                  
|Commitments and contingencies                          |                    |                  
|                                                       |                    |                  
|Shareholders' Equity                                   |                    |                  
|Preferred stock, no par value; 10,000,000 shares       |                    |                  
|authorized; none issued and outstanding                |                    |                  
|Common stock, no par value; 10,000,000 shares          |                    |                  
|authorized; 1,180,000 shares issued and outstanding at |                    |                  
|September 30, 2006 and December 31, 2005, respectively |                    |                  
|Accumulated other comprehensive loss                   |                    |                  
|Retained deficit                                       |                    |                  
|Total shareholders' equity                             |                    |                  
|                                                       |                    |                  
|Total liabilities and shareholders' equity             |                    |                  
|                                                       |                    |                  

# The accompanying notes are
an integral part of these financial statements.

2

---

# BankGreenville
Financial CorporationConsolidated Statement
of Operations(Unaudited)

|                                                             | For the three | For the nine
|------------------------------------------------------------ | ------------- | ------------
|
|
|
|Interest income                                              |               |             
|Loans                                                        |               |             
|Investment securities                                        |               |             
|Federal funds sold                                           |               |             
|                                                             |               |             
|Total interest income                                        |               |             
|Interest expense on deposits                                 |               |             
|                                                             |               |             
|Net interest income                                          |               |             
|Provision for loan loss                                      |               |             
|                                                             |               |             
|Net interest income after provision for loan losses          |               |             
|                                                             |               |             
|Noninterest income                                           |               |             
|                                                             |               |             
|Noninterest expense                                          |               |             
|Compensation and employee benefits                           |               |             
|Occupancy and equipment                                      |               |             
|Data processing and related costs                            |               |             
|Marketing, advertising and shareholder communications        |               |             
|Legal and audit                                              |               |             
|Supplies, postage and telephone                              |               |             
|Insurance                                                    |               |             
|Courier and armored carrier service                          |               |             
|Other                                                        |               |             
|                                                             |               |             
|Total noninterest expense                                    |               |             
|                                                             |               |             
|Loss before income tax benefit                               |               |             
|                                                             |               |             
|Income tax provision                                         |               |             
|                                                             |               |             
|Net loss                                                     |               |             
|                                                             |               |             
|Basic and diluted loss per common share                      |               |             
|                                                             |               |             
|Weighted average common shares outstanding-basic and diluted |               |             
|                                                             |               |             
|                                                             |               |             

# The accompanying notes
are an integral part of these financial statements.

3

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# BankGreenville
Financial Corporation Consolidated Statement
of Changes in Shareholders Equity For the nine months
ended September 30, 2006 (Unaudited)

|                                   |  |  | Accumulated |           | 
|---------------------------------- |  |  | ----------- | --------- | 
|
|
|
|Balance, December 31, 2005         |  |  |             | 1,180,000 | 
|                                   |  |  |             |           | 
|Adjustment of 2005 accrued         |  | 
|offering expenses to actual        |  |  |             | -         | 
|Stock option compensation          |  |  |             |           | 
|                                   |  |  |             |           | 
|Net loss for the nine months ended |  | 
|September 30, 2006                 |  |  |             |           | 
|Unrealized losses on investment    |  | 
|securities available for sale,     |  | 
|no tax effect                      |  |  |             | -         | 
|                                   |  |  |             |           | 
|Total comprehensive loss           |  |  |             | -         | 
|                                   |  |  |             |           | 
|Balance, September 30, 2006        |  |  |             | 1,180,000 | 
|                                   |  |  |             |           | 

# The accompanying notes
are an integral part of these financial statements.

4

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# BankGreenville
Financial Corporation Consolidated Statement
of Cash Flows For the Nine Months Ended September 30, 2006 (Unaudited)

|                                                                       | 
|---------------------------------------------------------------------- | 
|Cash flows from operating activities                                   | 
|Net loss                                                               | 
|Adjustments to reconcile net loss to cash used by operating activities | 
|Provision for loan loss                                                | 
|Depreciation                                                           | 
|Net accretion of discounts on investment securities                    | 
|Stock option compensation                                              | 
|Other assets                                                           | 
|Accounts payable and accrued liabilities                               | 
|                                                                       | 
|Net cash used by operating activities                                  | 
|                                                                       | 
|Cash flows from investing activities                                   | 
|Purchases of investment securities available for sale                  | 
|Net increase in loans                                                  | 
|Purchases of land, equipment and construction-in-progress              | 
|                                                                       | 
|Cash used by investing activities                                      | 
|                                                                       | 
|Cash flows from financing activities                                   | 
|Net increase in deposits                                               | 
|Net increase in common stock due to adjustment of offering costs       | 
|                                                                       | 
|Cash provided by financing activities                                  | 
|                                                                       | 
|Net decrease in cash and cash equivalents                              | 
|                                                                       | 
|Cash and cash equivalents, beginning of period                         | 
|                                                                       | 
|Cash and cash equivalents, end of period                               | 
|                                                                       | 
|Supplemental disclosure for non-cash investing activity:               | 
|Unrealized loss on securities available for sale, no tax               | 
|effect                                                                 | 
|                                                                       | 

# The accompanying notes
are an integral part of these financial statements.

5

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# BankGreenville
Financial Corporation

# Notes to Unaudited
Consolidated Financial Statements

# NOTE 1  NATURE OF
BUSINESS AND BASIS OF PRESENTATION

BankGreenville Financial
Corporation(the Company) is a South Carolina corporation
organized to operate as a bank holding company pursuant to the Federal Bank Holding
Company Act of 1956 and the South Carolina Bank Holding Company Act, and to own and
control all of the capital stock of BankGreenville (the
Bank). The Bank is a state chartered bank under the laws of South Carolina,
organized to conduct general banking business. From our inception on March 18, 2005
through January 29, 2006, we engaged in organizational and pre-opening activities
necessary to obtain regulatory approvals and to prepare our subsidiary, the Bank, to
commence business as a financial institution. We received approvals from the FDIC, Federal
Reserve and the State Board of Financial Institutions in January 2006 and opened for
business on January 30, 2006. The Bank is primarily engaged in the business of accepting
deposits, insured by the FDIC, and providing commercial, consumer and mortgage loans to
the general public in Greenville County, South Carolina.

# Basis of Presentation

The accompanying unaudited
consolidated financial statements have been prepared in accordance with accounting
principles generally accepted in the United States of America for interim financial
information and with the instructions to Form 10-QSB. Accordingly, they do not include all
information and footnotes required by accounting principles generally accepted in the
United States of America for complete financial statements. However, in the opinion of
management, all adjustments (consisting of normal recurring adjustments) considered
necessary for a fair presentation have been included. Operating results for the
three-month and nine-month periods ended September 30, 2006 are not necessarily indicative
of the results that may be expected for the year ending December 31, 2006. For further
information, refer to the audited consolidated financial statements and footnotes thereto
included in the Companys 10-KSB for the year ended December 31, 2005 as filed with
the Securities and Exchange Commission.

Until the Bank opened for business on
January 30, 2006, we were accounted for as a development stage enterprise as defined by
Statement of Financial Accounting Standards (SFAS) No. 7, Accounting and
Reporting by Development Stage Enterprises, as we devoted substantially all of our
efforts to establishing a new business, and thus, comparisons of the quarter and nine
months ended September 30, 2006 to September 30, 2005 are not meaningful.

The accounting and reporting policies
conform to accounting principles generally accepted in the United States of America and to
general practices in the banking industry. The Company uses the accrual basis of
accounting. During the period of organization from March 18, 2005 (inception) until May
19, 2005, the Company operated as NGCB, Inc. All activity and agreements of NGCB, Inc.
were assigned to the Company at the time of the filing of an amendment to change the name
of the entity.

# NOTE 2  SUMMARY OF
SIGNIFICANT ACCOUNTING POLICIES

Principles of Consolidation
 The consolidated financial statements include the accounts of BankGreenville
Financial Corporation, the parent company, and BankGreenville, its wholly owned
subsidiary. All significant intercompany items have been eliminated in the consolidated
financial statements.

Managements Estimates
 The preparation of consolidated financial statements in conformity with accounting
principles generally accepted in the United States of America requires management to make
estimates and assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the financial statements
and the reported amounts of income and expenses during the reporting period. Actual
results could differ from those estimates.

Material estimates that are
particularly susceptible to significant change relate to the determination of the
allowance for losses on loans, including valuation allowances for impaired loans, and the
valuation of real estate acquired in connection with foreclosures or in satisfaction of
loans. In connection with the determination of the allowances for losses on loans and
valuation of foreclosed real estate, management obtains independent appraisals for
significant properties. Management must also make estimates in determining the estimated
useful lives and methods for depreciating premises and equipment.

6

---

# BankGreenville
Financial Corporation

# NOTE 2  SUMMARY OF
SIGNIFICANT ACCOUNTING POLICIES (continued)

Management uses available information
to recognize losses on loans and foreclosed real estate, and future additions to the
allowance may be necessary based on changes in local economic conditions. In addition, as
an integral part of their examination process, regulatory agencies periodically review the
Companys allowances for losses on loans and foreclosed real estate. Such agencies
may require the Company to recognize additions to the allowances based on their judgments
about information available to them at the time of their examination. Because of these
factors, it is reasonably possible that the allowances for losses on loans and foreclosed
real estate may change materially in the near term.

Investment Securities 
Investment securities are accounted for in accordance with SFAS No. 115, Accounting
for Certain Investments in Debt and Equity Securities.  Management classifies
securities at the time of purchase into securities held to maturity, trading securities,
or securities available for sale. Securities held to maturity are securities which
the Company has the positive intent and ability to hold to maturity, and are reported at
amortized cost. Trading securities are purchased and held principally for the purpose of
selling them in the near future and are reported at fair value with unrealized gains and
losses included in earnings. Securities available for sale are securities that may be
sold under certain conditions, and are reported at fair value, with unrealized gains and
losses excluded from earnings and reported as a separate component of shareholders
equity as accumulated other comprehensive income. At September 30, 2006, the
Companys investments were classified available for sale. The amortization of
premiums and accretion of discounts on investment securities are recorded as adjustments
to interest income. Gains or losses on sales of investment securities are based on the net
proceeds and the adjusted carrying amount of the securities sold, using the specific
identification method. Unrealized losses on securities, reflecting a decline in value or
impairment judged by the Company to be other than temporary, are charged to earnings in
the consolidated statements of income.

Loans receivable  Loans
are stated at their unpaid principal balance. Interest income is computed using the simple
interest method and is recorded in the period earned. Fees earned on loans are amortized
over the life of the loan.

When serious doubt exists as to the
collection of a loan or when a loan becomes contractually 90 days past due as to principal
or interest, interest income is generally discontinued unless the estimated net realizable
value of collateral exceeds the principal balance and accrued interest. When interest
accruals are discontinued, income earned but not collected is reversed.

The Company identifies impaired loans
through its normal internal loan review process. Loans on the Companys problem loan
watch list are considered potentially impaired loans. These loans are evaluated in
determining whether all outstanding principal and interest are expected to be collected in
accordance with the contractual terms. Loans are not considered impaired if a minimal
payment delay occurs and all amounts due, including accrued interest at the contractual
interest rate for the period of delay, are expected to be collected. At September 30,
2006, management has determined that the Company had no impaired loans.

Allowance for Loan Losses
 An allowance for loan losses is maintained at a level deemed appropriate by
management to provide adequately for known and inherent losses in the loan portfolio.
Management evaluates current and future anticipated economic conditions which may affect
borrowers ability to pay and the underlying collateral value of the loans in
determining the estimate of the allowance for loan losses. Loans which are deemed to be
uncollectible are charged off and deducted from the allowance. The provision for loan
losses and recoveries of loans previously charged off are added to the allowance.

Premises, Furniture and
Equipment  Premises, furniture and equipment are stated at cost, less
accumulated depreciation. The provision for depreciation is computed by the straight-line
method, based on the estimated useful lives for buildings of 40 years and for furniture
and equipment of 5 to 10 years. Leasehold improvements are amortized over the life of the
lease. The cost of assets sold or otherwise disposed of and the related allowance for
depreciation are eliminated from the accounts and the resulting gains or losses are
reflected in the income statement when incurred. Maintenance and repairs are charged to
current expense. The costs of major renewals and improvements are capitalized.

Building
construction-in-progress  Building construction-in-progress includes
architectural and construction costs for our permanent headquarters building. Building
completion is scheduled during the first quarter of 2007, at which time these costs will
be reclassified to premises, furniture and equipment.

Residential Loan Origination
Fees  The Company offers residential loan origination services to its clients.
The loans are offered on terms and prices offered by the Companys correspondents and
are closed in the name of the correspondents. The Company receives fees for services it
provides in conjunction with the origination services it provides. The fees are recognized
at the time the loans are closed by the Companys correspondent.

7

---

# BankGreenville
Financial Corporation

# NOTE 2  SUMMARY OF
SIGNIFICANT ACCOUNTING POLICIES (continued)

Organization costs The
Company has incurred organization costs, which include incorporation, registration and
legal fees associated with establishment of the Company. In accordance with Statement of
Position (SOP) 98-5, Reporting on the Costs of Start-Up Activities,
organization costs are expensed when incurred.

Advertising and Marketing
 Marketing, promotional and other advertising costs generally are expensed when
incurred.

Income Taxes  Income
taxes are provided for the tax effects of transactions reported in the financial
statements and consist of taxes currently due plus deferred taxes related primarily to
differences between the financial reporting and income tax bases of assets and
liabilities. At September 30, 2006, no taxable income has been generated and therefore, no
tax provision has been included in these financial statements. The deferred tax asset
related to the future benefit from operating loss carry-forwards for income tax purposes
has been offset by a valuation allowance as it is not more than likely that such losses
will be used.

Loss Per Share  Basic
loss per share represents net loss available to shareholders divided by the
weighted-average number of common shares outstanding during the period. Potential common
shares that may be issued by the Company relate to outstanding stock options and warrants,
and are determined using the treasury stock method. Due to the loss for the three and nine
month periods ended September 30, 2006, the outstanding stock options are anti-dilutive,
and basic and dilutive shares and loss per common share, respectively, are the same.

Stock Compensation Plans
 Upon completion of the offering, the Company issued stock warrants to the
organizing directors for the purchase of three shares of common stock at $10.00 per share
for every four shares purchased in the stock offering, up to a maximum of 10,000 warrants
per director. The Company issued a total of 107,500 warrants, all of which immediately
vested upon completion of the offering. In addition, the Company has adopted a stock
option plan. 100,650 options to purchase common stock at $10.00 per share were granted on
February 14, 2006 and were outstanding at September 30, 2006. The options vest over a five
year period from the date of grant and have a contractual term of ten years. 212,400
shares are authorized under the plan. On January 1, 2006, the Company adopted the fair
value recognition provisions of Financial Accounting Standards Board (FASB)
SFAS No. 123(R), Accounting for Stock-Based Compensation, to account for
compensation costs under its stock option plan. Previously, stock option plans were
accounted for using the intrinsic value method under Accounting Principles Board Opinion
No. 25, Accounting for Stock Issued to Employees (as amended) (APB
25). Under the intrinsic value method prescribed by APB 25, the Company would not
have recognized compensation cost for stock options because the option exercise price in
its plan equals the market price on the date of grant. In adopting SFAS No. 123, the
Company elected to use the modified prospective method to account for the transition from
the intrinsic value method to the fair value recognition method. Under the modified
prospective method, compensation cost is recognized from the grant date for all new stock
options granted and for any outstanding unvested awards, applying the fair value method to
those awards as of the date of grant, and is expensed over the employees requisite
service period.

There were no options outstanding at
December 31, 2005. At September 30, 2006, 100,650 options were granted at $10.00 per
share. Of this total, none are vested and there have been no forfeitures as of September
30, 2006. The options have a remaining contractual term of approximately 9.25 years. Total
unrecognized compensation cost related to non-vested options granted as of September 30,
2006 is $248,981, and is expected to be expensed over the corresponding five-year vesting
periods of the stock options. Net loss, as reported, included stock-based employee
compensation expense of $14,087 and $35,129 for the three months and nine months ended
September 30, 2006, respectively. The exercise or conversion ratio of all stock options
granted is 1:1 and the aggregate intrinsic value of the stock options was zero at
September 30, 2006.

The weighted average fair value per
share of options granted as of September 30, 2006 amounted to $3.29.  The fair value
of each option granted was estimated on the date of grant using the Black-Scholes option
pricing model with the following assumptions used for grants:  expected volatility of
16%, risk-free interest rate of 4.45% and expected lives of seven and a half years.

There were no capitalized stock-based
compensation costs at September 30, 2006.

Statement of Cash Flows  For
purposes of reporting cash flows, cash equivalents include amounts due from banks and
federal funds sold. Generally, federal funds are sold for one-day periods.

8

---

# BankGreenville
Financial Corporation

# NOTE 3  INVESTMENTS

At September 30, 2006, the fair
market value of the Companys available for sale investment portfolio totaled
$7,339,815 and included government-sponsored agencies of $5,874,360 and agency
mortgage-backed securities of $1,465,455. The amortized cost of the portfolio totaled
$7,340,836. The amortized cost of agencies and mortgage-backed securities was $5,870,415
and $1,470,421, respectively. No investments were pledged at September 30, 2006.

# NOTE 4  LOANS

The Companys loan portfolio
totaled $9,809,162 at September 30, 2006, and the allowance for loan losses was $147,137,
for net loans of $9,662,025. The portfolio included commercial real estate and
construction loans of $2,956,551, commercial loans of $3,514,995, residential property
secured loans and home equity lines of credit of $3,217,610 and consumer loans of
$120,006. Variable rate and fixed rate loans totaled $7,640,125 and $2,169,037,
respectively.

# NOTE 5  LAND AND
LAND IMPROVEMENTS

Land and land improvements totaled
$666,412 at September 30, 2006 and consisted of $645,558 in land costs associated with the
Companys purchase of approximately 1.23 acres, on which to build our permanent bank
headquarters, as well as $20,854 in unamortized land improvement costs associated with our
temporary facility site. Land improvement costs are being expensed over the Companys
temporary facility lease term.

# NOTE 6  DEPOSITS

At September 30, 2006, deposits
totaled $12,211,960 and consisted of demand deposits of $1,491,963, interest checking of
$438,108, savings and money market accounts of $6,166,598, and certificates of deposit of
$4,115,291. Certificates equal to or greater than $100,000 totaled $2,450,751 and those
less than $100,000 amounted to $1,664,540. Certificates totaling $3,964,291 are scheduled
to mature in 2007, $-0- in 2008, and $100,000 in 2009.

# NOTE 7  BORROWINGS

At September 30, 2006, the Bank had
short-term lines of credit with correspondent banks to purchase a maximum of $3,000,000 in
unsecured federal funds. The interest rate on borrowings under these lines is the
prevailing market rate for federal funds purchased. No amounts were outstanding at
September 30, 2006.

# NOTE 8  LEASES

The Company has entered into a lease
agreement on its temporary banking facility as well as a ground lease agreement on the
temporary site location of this facility. The monthly rent under these lease agreements is
$2,619 and $1,250, respectively. The original lease term on our temporary banking facility
expired on September 30, 2006, and we elected to exercise the month-to-month option in the
original lease agreement. The ground lease agreement expired on July 31, 2006, and in July
2006, the Company exercised its right to extend the ground lease for one nine-month term.
The Company leases its modular facility furniture at a monthly rental of $2,405.

# NOTE 9  RELATED
PARTY TRANSACTIONS

On January 30, 2006, the Company
purchased approximately 1.23 acres on which to build its headquarters building, at the
corner of Woodruff Road and Rocky Slope Road. A family partnership of one of our directors
is a one-third partner in an entity which owned fifty percent of the site. The cost of the
site was $614,238. Additionally, we incurred $31,320 for our portion of the maintenance
costs of a shared storm water retention system. This same family partnership is a
one-third partner in the entity which owns fifty percent of our temporary facility site.
The Company leases this temporary site under a ground lease agreement for a monthly rental
of $1,250.

The law firm in which our chairman of
the board is a shareholder assisted in the negotiation and preparation of our land
purchase agreement and the closing of the headquarters site, as well as the negotiation of
the ground lease agreement for our temporary facility site. The fees for these services
totaled $6,918.

9

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# BankGreenville
Financial Corporation

# NOTE 9  RELATED
PARTY TRANSACTIONS (continued)

In the ordinary course of business,
the Bank transacts loan and deposit business with directors and executive officers as well
as their immediate families and business interests. This business with related parties is
conducted on substantially the same terms, including interest rates and credit
requirements, as those prevailing at the time for comparable transactions with unrelated
parties and do not involve more than normal risk.

# NOTE 10 
COMMITMENTS AND CONTINGENCIES

On July 13, 2006, the Company entered
into an agreement with a contractor to build the Banks permanent headquarters
building, adjacent to our temporary banking facility site. The agreement is in the form of
cost plus a fee with a negotiated guaranteed maximum price not to exceed $1,645,164. The
headquarters building is expected to be completed during the first quarter of 2007.

# NOTE 11 
OFF-BALANCE SHEET INSTRUMENTS

The Bank has made contractual
commitments to extend credit in the ordinary course of its business activities. These
commitments are legally binding agreements to lend money to our clients at predetermined
interest rates for a specified period of time. At September 30, 2006, the Bank had issued
commitments to extend credit of $3,126,000 through various types of lending arrangements.
We evaluate each clients credit worthiness on a case-by-case basis. The amount of
collateral obtained, if deemed necessary by us upon extension of credit, is based on our
credit evaluation of the borrower. Collateral varies but may include accounts receivable,
inventory, property, plant and equipment, commercial and residential real estate. We
manage the credit risk on these commitments by subjecting them to normal underwriting and
risk management processes.

# NOTE 12  RECENTLY
ISSUED ACCOUNTING STANDARDS

The following is a summary of recent
authoritative pronouncements that could impact the accounting, reporting and/or disclosure
of financial information by the Company.

In February 2006, the Financial
Accounting Standards Board (FASB) issued SFAS No. 155, Accounting for
Certain Hybrid Financial Instrumentsan amendment of FASB Statements No. 133 and
140. This Statement amends SFAS No. 133, Accounting for Derivative Instruments
and Hedging Activities, and SFAS No. 140, Accounting for Transfers and
Servicing of Financial Assets and Extinguishments of Liabilities. This Statement
resolves issues addressed in SFAS No. 133 Implementation Issue No. D1, Application
of Statement 133 to Beneficial Interests in Securitized Financial Assets. SFAS No.
155 is effective for all financial instruments acquired or issued after the beginning of
an entitys first fiscal year that begins after September 15, 2006. Management does
not believe that the adoption of SFAS No. 155 will have an impact on its financial
position, results of operations and cash flows.

In March 2006, the FASB issued SFAS
No. 156, Accounting for Servicing of Financial Assetsan amendment of FASB
Statement No. 140. This Statement amends FASB No. 140, Accounting for
Transfers and Servicing of Financial Assets and Extinguishments of Liabilities, with
respect to the accounting for separately recognized servicing assets and servicing
liabilities. SFAS No. 156 requires an entity to recognize a servicing asset or servicing
liability each time it undertakes an obligation to service a financial asset by entering
into a servicing contract; requires all separately recognized servicing assets and
servicing liabilities to be initially measured at fair value, if practicable; permits an
entity to choose its subsequent measurement methods for each class of separately
recognized servicing assets and servicing liabilities; at its initial adoption, permits a
one-time reclassification of available-for-sale securities to trading securities by
entities with recognized servicing rights, without calling into question the treatment of
other available-for-sale securities under Statement 115, provided that the
available-for-sale securities are identified in some manner as offsetting the
entitys exposure to changes in fair value of servicing assets or servicing
liabilities that a servicer elects to subsequently measure at fair value; and requires
separate presentation of servicing assets and servicing liabilities subsequently measured
at fair value in the statement of financial position and additional disclosures for all
separately recognized servicing assets and servicing liabilities. An entity should adopt
SFAS No. 156 as of the beginning of its first fiscal year that begins after September 15,
2006. Management does not believe the adoption of SFAS No. 156 will have an impact on its
financial position, results of operations and cash flows.

In July 2006, the FASB issued FASB
Interpretation No. 48 (FIN 48), Accounting for Uncertainty in Income
Taxes. FIN 48 clarifies the accounting for uncertainty in income taxes recognized in
an enterprises financial statements in accordance with FASB Statement No. 109,
Accounting for Income Taxes.

10

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# BankGreenville
Financial Corporation

# NOTE 12  RECENTLY
ISSUED ACCOUNTING STANDARDS (continued)

FIN 48 prescribes a recognition
threshold and measurement attributable for the financial statement recognition and
measurement of a tax position taken or expected to be taken in a tax return. FIN 48 also
provides guidance on derecognition, classification, interest and penalties, accounting in
interim periods, disclosures and transitions. FIN 48 is effective for fiscal years
beginning after December 15, 2006. Management is currently analyzing the effects of FIN
48.

In September 2006, the FASB issued
SFAS No. 157, Fair Value Measurements. SFAS 157 defines fair value,
establishes a framework for measuring fair value in generally accepted accounting
principles, and expands disclosures about fair value measurements. SFAS 157 is effective
for the Company on January 1, 2008 and is not expected to have a significant impact on the
Companys financial statements.

On September 13, 2006, the SEC issued
Staff Accounting Bulleting No. 108 (SAB 108). SAB 108 provides interpretive
guidance on how the effects of the carryover or reversal of prior year misstatements
should be considered in quantifying a potential current year misstatement. Prior to SAB
108, Companies might evaluate the materiality of financial statement misstatements using
either the income statement or balance sheet approach, with the income statement approach
focusing on new misstatements added in the current year, and the balance sheet approach
focusing on the cumulative amount of misstatement present in a companys balance
sheet. Misstatements that would be material under one approach could be viewed as
immaterial under another approach, and not be corrected. SAB 108 now requires that
companies view financial statement misstatements as material if they are material
according to either the income statement or balance sheet approach. Management has
analyzed SAB 108 and determined that upon adoption it will have no impact on the reported
results of operations or financial conditions.

Other accounting standards that have
been issued or proposed by the FASB or other standards-setting bodies are not expected to
have a material impact on the Companys financial position, results of operations and
cash flows.

11

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# Item
2.   Managements Discussion and Analysis or Plan of Operation

The following discussion reviews
our results of operations and assesses our financial condition. You should read the
following discussion and analysis in conjunction with the accompanying consolidated
financial statements. The commentary should be read in conjunction with the discussion of
forward-looking statements, the financial statements, and the related notes and the other
statistical information included in this report.

# DISCUSSION OF
FORWARD-LOOKING STATEMENTS

This report contains
forward-looking statements relating to, without limitation, future economic
performance, plans and objectives of management for future operations, and projections of
revenues and other financial items that are based on the beliefs of management, as well as
assumptions made by and information currently available to management. The words
may, will, anticipate, should,
would, believe, contemplate, expect,
estimate, continue, and intend, as well as other
similar words and expressions of the future, are intended to identify forward-looking
statements. Our actual results may differ materially from the results discussed in the
forward-looking statements, and our operating performance each quarter is subject to
various risks and uncertainties that are discussed in detail in our filings with the
Securities and Exchange Commission, including, without limitation:

| |  | significant increases in competitive pressure in the banking and financial services
industries;
| | - | -----------------------------------------------------------------------------------------------

| |  | changes in the interest rate environment which could reduce
anticipated or actual margins;
| | - | ------------------------------------------------------------------------------------------

| |  | changes in political conditions or the
legislative or regulatory environment;
| | - | -----------------------------------------------------------------------------

| |  | general economic conditions, either
nationally or regionally and especially in our primary service area, becoming less favorable than expected resulting in,
among other things, a deterioration in credit quality;
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  | changes occurring in business conditions and inflation;
| | - | -------------------------------------------------------

| |  | changes in technology;
| | - | ----------------------

| |  | changes in monetary and tax policies;
| | - | -------------------------------------

| |  | the level of allowance for loan loss;
| | - | -------------------------------------

| |  | the rate of delinquencies and amounts of charge-offs;
| | - | -----------------------------------------------------

| |  | the rates of loan growth;
| | - | -------------------------

| |  | adverse changes in asset quality and resulting credit risk-related losses and
expenses;
| | - | ---------------------------------------------------------------------------------------

| |  | loss of consumer confidence and economic disruptions resulting
from terrorist activities;
| | - | -----------------------------------------------------------------------------------------

| |  | changes in the securities markets; and
| | - | --------------------------------------

| |  | other risks and uncertainties detailed from time to time in our filings with the
Securities and Exchange Commission.
| | - | --------------------------------------------------------------------------------------------------------------------

# Overview

The following discussion describes
our results of operations for the quarter and nine months ended September 30, 2006, and
also analyzes our financial condition as of September 30, 2006. Because the Bank did not
open for business until January 30, 2006, a comparison of the quarter and nine months
ended September 30, 2006 to the quarter and nine months ended September 30, 2005 is not
meaningful. Until January 30, 2006, our principal activities related to our organization,
the conducting of our initial public offering, and the pursuit of approvals from the South
Carolina Board of Financial Institutions for our application to charter the bank, from the
Federal Reserve to become a bank holding company, and from the FDIC for our application
for insurance of the deposits of the bank. We received all regulatory approvals in January
2006 and commenced business on January 30, 2006. We completed our stock offering in
December 2005 and issued 1,180,000 shares. Offering proceeds, net of offering costs and
underwriting fee, totaled $11,035,287. We capitalized the bank with $11 million of the
proceeds from the stock offering.

Like most community banks, we derive
most of our income from interest we receive on our loans and investments. Our primary
source of funds for making these loans and investments is our deposits, on which we pay
interest. Consequently, one of the key measures of our success is our amount of net
interest income, or the difference between the income on our interest-earning assets, such
as loans and investments, and the expense on our interest-bearing liabilities, such as
deposits. Another key measure is the spread between the yield we earn on these
interest-earning assets and the rate we pay on our interest-bearing liabilities.

Of course, there are risks inherent
in all loans, so we maintain an allowance for loan losses to absorb probable losses on
existing loans that may become uncollectible. We establish and maintain this allowance by
charging a provision for loan losses against our operating earnings. In the following
section we have included a detailed discussion of this process.

In addition to earning interest on
our loans and investments, we earn income through fees and other expenses we charge to our
clients. We describe the various components of this non-interest income, as well as our
non-interest expense, in the following discussion.

12

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# Critical Accounting
Policies

We have adopted various accounting
policies that govern the application of accounting principles generally accepted in the
United States of America and with general practices within the banking industry in the
preparation of our financial statements. Our significant accounting policies are described
in the footnotes to our unaudited consolidated financial statements included in this
report on Form 10-QSB.

Certain accounting policies involve
significant judgments and assumptions by us that have a material impact on the carrying
value of certain assets and liabilities. We consider these accounting policies to be
critical accounting policies. The judgment and assumptions we use are based on historical
experience and other factors, which we believe to be reasonable under the circumstances.
Because of the nature of the judgment and assumptions we make, actual results could differ
from these judgments and estimates that could have a material impact on the carrying
values of our assets and liabilities and our results of operations.

We believe the allowance for loan
losses is the critical accounting policy that requires the most significant judgment and
estimates used in preparation of our consolidated financial statements. Some of the more
critical judgments supporting the amount of our allowance for loan losses include
judgments about the credit worthiness of borrowers, the estimated value of the underlying
collateral, the assumptions about cash flow, determination of loss factors for estimating
credit losses, the impact of current events, and conditions, and other factors impacting
the level of probable inherent losses. Under different conditions or using different
assumptions, the actual amount of credit losses incurred by us may be different from
managements estimates provided in our consolidated financial statements. Refer to
the portion of this discussion that addresses our allowance for loan losses for a more
complete discussion of our processes and methodology for determining our allowance for
loan losses.

We use assumptions and estimates in
determining income taxes payable or refundable for the current year, deferred income tax
liabilities and assets for events recognized differently in our financial statements and
income tax returns, and income tax expense or benefit. Determining these amounts requires
analysis of certain transactions and interpretations of tax laws and regulations. We
exercise judgment in evaluating the amount and timing of recognition of resulting tax
liabilities and assets. These judgments and estimates are reevaluated on a continual basis
as regulatory and business factors change. No assurance can be given that either the tax
returns submitted by us or the income tax reported on the financial statements will not be
adjusted by either adverse rulings by the United States Tax Court, changes in the tax
code, or assessments made by the Internal Revenue Service. We are subject to potential
adverse adjustments, including, but not limited to, an increase in the statutory federal
or state income tax rates, the permanent nondeductibility of amounts currently considered
deductible either now or in future periods, and the dependence on the generation of future
taxable income, including capital gains, in order to ultimately realize deferred income
tax assets.

# Results of Operations

Our net loss for the quarter ended
September 30, 2006 was $151,958, or $0.13 per share. Interest income totaled $340,304 and
consisted of loan interest of $179,072, interest of $91,567 on investment securities and
federal funds sold interest of $69,665. We incurred $109,579 in interest expense on
deposits, and our loan loss provision was $48,962. Non-interest income of $13,947
consisted primarily of mortgage origination fees on brokered loans. Non-interest expense
totaled $347,668 for the quarter ended September 30, 2006 and consisted primarily of
compensation and employee benefits of $185,277, occupancy and equipment of $56,550, and
data processing of $25,416, which consisted primarily of core processor and network
security monitoring services. Legal and audit expense, primarily associated with our
public reporting requirements, was $20,445. Other expenses of $26,989 included
credit-related costs, business development, and dues and memberships expense.

Our net loss for the nine months
ended September 30, 2006 was $639,971, or $0.54 per share. Included in the loss was
$48,215 in pre-opening expenses from January 1, 2006 to January 29, 2006. We opened the
bank on January 30, 2006 and loan interest income was $299,312, while interest income on
investment securities totaled $153,449 from this date through September 30, 2006. Interest
income on federal funds sold totaled $281,913 for the nine months ended September 30,
2006. Interest expense on deposits was $206,189 from January 30, 2006 through September
30, 2006 and the loan loss provision was $147,137.

Non-interest expense was $1,040,334
for the nine month period ended September 30, 2006, primarily consisting of compensation
and employee benefits of $560,780, which included $35,129 in stock option compensation,
occupancy and equipment of $203,725, data processing of $64,580, and legal and audit costs
of $47,030. Marketing, advertising and shareholder communications expense was $41,943.
Other expenses of $54,166 included credit-related costs, business development, and dues
and memberships expense.

13

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# Financial Condition

Overview

Total assets were $22.7 million at
September 30, 2006, an increase of $11.8 million, or 108%, from December 31, 2005, and
included gross loans of $9.8 million, investment securities of $7.3 million and federal
funds sold of $3.7 million. Deposits were $12.2 million and shareholders equity was
$10.2 million at September 30, 2006.

Loans

Since loans typically provide higher
interest yields than other types of interest earning assets, our goal is to have the
highest percentage of our earning assets in our loan portfolio. At September 30, 2006, our
loan portfolio totaled $9.8 million and consisted of approximately $3.0 million in
commercial real estate and construction loans, $3.5 million in commercial loans, and $3.3
million in residential property secured loans, home equity lines of credit and consumer
loans.

We will discontinue accrual of
interest on a loan when we conclude it is doubtful that we will be able to collect
interest from the borrower. We will reach this conclusion by taking into account factors
such as the borrowers financial condition, economic and business conditions, and the
results of our previous collection efforts. Generally, we will place a delinquent loan in
non-accrual status when the loan becomes 90 days or more past due. When we place a loan in
non-accrual status, we will reverse all interest which has been accrued on the loan but
remains unpaid and we will deduct this interest from earnings as a reduction of reported
interest income. We will not accrue any additional interest on the loan balance until we
conclude the collection of both principal and interest is reasonably certain. At September
30, 2006, there were no non-performing loans, and we had no loans that were 90 days or
more past due or non-accruing.

Loan Loss Allowance and
Provision

We have established an allowance for
loan losses through a provision for loan losses charged to expense on our consolidated
statement of operations. The allowance for loan losses was $147,137, or 1.50% of
outstanding loans, at September 30, 2006. The allowance for loan losses represents an
amount which we believe will be adequate to absorb probable losses on existing loans that
may become uncollectible. Our judgment as to the adequacy of the allowance for loan losses
is based on a number of assumptions about future events, which we believe to be
reasonable, but which may or may not prove to be accurate. Our determination of the
allowance for loan losses is based on evaluations of the collectibility of loans,
including consideration of factors such as the balance of impaired loans, the quality,
mix, and size of our overall loan portfolio, economic conditions that may affect the
borrowers ability to repay, the amount and quality of collateral securing the loans,
our historical loan loss experience, and a review of specific problem loans. We also
consider subjective issues such as changes in the lending policies and procedures, changes
in the local/national economy, changes in volume or type of credits, changes in
volume/severity of problem loans, quality of loan review and board of director oversight,
concentrations of credit, and peer group comparisons. However, due to our limited
operating history, to date the provision for loan losses has been made primarily as a
result of our assessment of general loan loss risk compared to banks of similar size and
maturity. Due to our short operating history, the loans in our loan portfolio and our
lending relationships are of very recent origin. In general, loans do not begin to show
signs of credit deterioration or default until they have been outstanding for some period
of time, a process known as seasoning. As a result, a portfolio of older loans will
usually behave more predictably than a newer portfolio. Because our loan portfolio is new,
the current level of delinquencies and defaults may not be representative of the level
that will prevail when the portfolio becomes more seasoned, which may be higher than
current levels. If delinquencies and defaults increase, we may be required to increase our
provision for loan losses, which would adversely affect our results of operations and
financial condition. Periodically, we will adjust the amount of the allowance based on
changing circumstances. We will charge recognized losses to the allowance and add
subsequent recoveries back to the allowance for loan losses. There can be no assurance
that charge-offs of loans in future periods will not exceed the allowance for loan losses
as estimated at any point in time or that provisions for loan losses will not be
significant to a particular accounting period.

Investments

Investment securities, classified
available for sale, totaled $7.3 million at September 30, 2006 and were comprised of
government-sponsored agencies of approximately $5.9 million and agency mortgage-backed
securities of $1.4 million.

14

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Deposits

Local deposits are our primary
funding source for our loans and investments. At September 30, 2006, deposits were $12.2
million and consisted of approximately $6.1 million in money market and savings accounts,
$2.0 million in demand deposits and interest checking accounts and $4.1 million in
certificates of deposit.

# Liquidity

Liquidity is the ability to meet
current and future obligations through liquidation or maturity of existing assets or the
acquisition of liabilities. We manage both assets and liabilities to achieve appropriate
levels of liquidity. Cash and short-term investments are our primary sources of asset
liquidity. These funds provide a cushion against short-term fluctuations in cash flow from
both deposits and loans. The investment portfolio is our principal source of secondary
asset liquidity. However, the availability of this source of funds is influenced by market
conditions. Individual and commercial deposits and borrowings are our primary source of
funds for credit activities. We have lines of credit with unrelated banks totaling $3.0
million. These lines are available on a one-to-fourteen day basis for general corporate
purposes. We believe our liquidity sources are adequate to meet our operating needs. The
level of liquidity is measured by the cash and cash equivalents and unpledged securities
available for sale-to-total assets ratio, which was at 49.90% at September 30, 2006.

# Off-Balance Sheet
Instruments

Through the operations of our bank,
we have made contractual commitments to extend credit in the ordinary course of our
business activities. These commitments are legally binding agreements to lend money to our
clients at predetermined interest rates for a specified period of time. At September 30,
2006, we had issued commitments to extend credit of $3,126,000 through various types of
lending arrangements. We evaluate each clients credit worthiness on a case-by-case
basis. The amount of collateral obtained, if deemed necessary by us upon extension of
credit, is based on our credit evaluation of the borrower. Collateral varies but may
include accounts receivable, inventory, property, plant and equipment, commercial and
residential real estate. We manage the credit risk on these commitments by subjecting them
to normal underwriting and risk management processes.

# Capital Resources

Total shareholders equity
decreased from $10.8 million at December 31, 2005 to $10.2 million at September 30, 2006,
primarily due to our net loss of $639,971 for the nine-month period and unrealized losses
of $1,021 on available for sale investment securities. Common stock increased $35,403,
primarily due to stock option compensation of $35,129.

The bank is subject to various
regulatory capital requirements administered by the federal banking agencies. Failure to
meet minimum capital requirements can initiate certain mandatory and possibly additional
discretionary actions by regulators that, if undertaken, could have a material effect on
the banks financial statements. Under capital adequacy guidelines and the regulatory
framework for prompt corrective action, the bank must meet specific capital guidelines
that involve quantitative measures of the banks assets, liabilities, and certain
off-balance-sheet items as calculated under regulatory accounting practices. The
banks capital amounts and classifications are also subject to qualitative judgments
by the regulators about components, risk weightings, and other factors.

The Federal Reserve guidelines
contain an exemption from the capital requirements for small bank holding
companies. On March 31, 2006, the Federal Reserve changed the definition of a small
bank holding company to bank holding companies with less than $500 million in total assets
(an increase from $150 million under the prior rule). However, bank holding companies will
not qualify under the new definition if they (i) are engaged in significant nonbanking
activities either directly or indirectly through a subsidiary, (ii) conduct significant
off-balance sheet activities, including securitizations or managing or administering
assets for third parties, or (iii) have a material amount of debt or equity securities
(including trust preferred securities) outstanding that are registered with the SEC.
Although we have less than $500 million in assets, it is unclear at this point whether we
otherwise meet the requirements for qualifying as a small bank holding
company. According to the Federal Reserve Board, the revision of the criterion to
exclude any bank holding company that has outstanding a material amount of SEC-registered
debt or equity securities reflects the fact that SEC registrants typically exhibit a
degree of complexity of operations and access to multiple funding sources that warrants
excluding them from the new policy statement and subjecting them to the capital
guidelines. In the adopting release for the new rule, the Federal Reserve Board stated
that what constitutes a material amount of SEC-registered debt or equity for a
particular bank holding company depends on the size, activities and condition of the
relevant bank holding company.

15

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In lieu of using fixed measurable
parameters of materiality across all institutions, the rule provides the Federal Reserve
with supervisory flexibility in determining, on a case-by-case basis, the significance or
materiality of activities or securities outstanding such that a bank holding company
should be excluded from the policy statement and subject to the capital guidelines. Prior
to adoption of this new rule, our holding company was not subject to these capital
guidelines, as it had less than $150 million in assets. Until the Federal Reserve provides
further guidance on the new rules, it will be unclear whether our holding company will be
subject to the exemption from the capital requirements for small bank holding companies.
Regardless, our bank falls under these minimum capital requirements as set per bank
regulatory agencies.

Quantitative measures established by
regulation to ensure capital adequacy require the bank to maintain minimum ratios of Tier
1 and total capital as a percentage of assets and off-balance-sheet exposures, adjusted
for risk weights ranging from 0% to 100%. Tier 1 capital of the bank consists of common
shareholders equity, excluding the unrealized gain or loss on securities
available-for-sale, minus certain intangible assets. The banks Tier 2 capital
consists of the allowance for loan losses subject to certain limitations. Total capital
for purposes of computing the capital ratios consists of the sum of Tier 1 and Tier 2
capital. The regulatory minimum requirements are 4% for Tier 1 capital and 8% for total
risk-based capital.

The bank is also required to maintain
capital at a minimum level based on quarterly average assets, which is known as the
leverage ratio. Only the strongest banks are allowed to maintain capital at the minimum
requirement of 3%. All others are subject to maintaining ratios 1% to 2% above the
minimum. The bank exceeded its minimum regulatory capital ratios as of September 30, 2006,
as well as the ratios to be considered well capitalized.

The following table summarizes the
capital amounts and ratios of the bank and the regulatory minimum requirements at
September 30, 2006.

(Dollars in thousands)

|                                       |  |  |   |        | Adequately
|-------------------------------------- |  |  | - | ------ | ----------
|
|
|
|Total capital to risk weighted assets  |  |  | $ | 10,265 |           
|Tier 1 capital to risk weighted assets |  |  | $ | 10,118 |           
|Tier 1 capital to average assets       |  |  | $ | 10,118 |           

# Item
3.   Controls and Procedures

As of the end of the period covered
by this report, we carried out an evaluation, under the supervision and with the
participation of our management, including our Chief Executive Officer and Chief Financial
Officer, of the effectiveness of our disclosure controls and procedures as defined in
Exchange Act Rule 15d-15(e). Based upon that evaluation, our Chief Executive Officer and
Chief Financial Officer have concluded that our current disclosure controls and procedures
are effective as of September 30, 2006. There have been no significant changes in our
internal controls over financial reporting during the fiscal quarter ended September 30,
2006 that have materially affected, or are reasonably likely to materially affect, our
internal controls over financial reporting.

The
design of any system of controls and procedures is based in part upon certain assumptions
about the likelihood of future events. There can be no assurance that any design will
succeed in achieving its stated goals under all potential future conditions, regardless of
how remote.

16

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# Part II  Other
Information

# Item
1.   Legal Proceedings

There are no material pending legal
proceedings to which the company is a party or of which any of its property is the
subject.

# Item
2.  Unregistered Sales of Equity Securities and Use of Proceeds

Not applicable

# Item 3.   Default
Upon Senior Securities

Not applicable

# Item
4.   Submission of Matters to a Vote of Security Holders

Not applicable

# Item 5.   Other
Information

Not applicable

# Item
6.   Exhibits

10.1
   Standard Form of Agreement Between BankGreenville and Cameron Construction Co., Inc.
dated July 14, 2006

31.1
   Rule 15d-14(a) Certification of the Principal Executive Officer.

31.2
   Rule 15d-14(a) Certification of the Principal Financial Officer.

32
     Section 1350 Certifications.

17

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# SIGNATURES

In accordance with the requirements
of the Exchange Act, the registrant caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

|                         |  |                                                               
|------------------------ |  | --------------------------------------------------------------
|                         |  |                                                               
|Date:  November 13, 2006 |  | By:   /s/  Russel T. Williams                                 
|                         |  | Russel T. Williams                                            
|                         |  | Chief Executive Officer
         (Principal Executive Officer)

|                         |  |                                                               
|------------------------ |  | --------------------------------------------------------------
|                         |  |                                                               
|Date:  November 13, 2006 |  | By:   /s/  Paula S. King                                      
|                         |  | Paula S. King                                                 
|                         |  | Chief Financial Officer
         (Principal Financial Officer)

18

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# EXHIBIT INDEX

ExhibitNumber
             Description

10.1
   Standard Form of Agreement Between BankGreenville and Cameron Construction Co., Inc.
dated July 14, 2006

31.1
   Rule 15d-14(a) Certification of the Principal Executive Officer.

31.2
   Rule 15d-14(a) Certification of the Principal Financial Officer.

32
     Section 1350 Certifications.

19