Exhibit 10.1

|STATE OF SOUTH CAROLINA | ) |  |                
|----------------------- | - |  | ---------------
|                        | ) |  | LEASE AGREEMENT
|COUNTY OF CHARLESTON    | ) |  |                

THIS
LEASE AGREEMENT ("Lease") made and entered into on this 24 day of March, 2004, by and between Savings Associates ("Landlord") and Tidelands Bank (f/k/a Liberty
Bankshares, Inc.) ("Lessee").

1.     Summary of Terms and Certain Definitions.



Lease Year

Annual

MonthlyYear 4

$
194,103.28

$
16,175.27Year 5

$
199,926.38

$
16,660.53Year 6

$
205,924.17

$
17,160.35




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2.Building.Lessee hereby leases from Landlord the Building
specified in Section 1(a) and shown on attached Exhibit "A" within the Building (the Building and the lot on which it is located, the "Property"), together with the right to use all areas and
facilities provided by Landlord including any driveways, sidewalks and parking, loading and landscaped areas.

TO
HAVE AND TO HOLD THE Building upon the terms and conditions hereinafter set forth.

3.Landlord's Representations.The Landlord makes the following
representations as the basis for the undertakings on its part herein contained:



4.Lessee's Representations.The Lessee makes the following
representations as the basis for the undertakings on its part herein contained:



5.     Term.



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6.     Rental.



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7.Use.The Lessee shall use and occupy the Building solely for
the Use specified in Section 1(f) above and for no other purposes without the express written consent of the Landlord, which consent shall not be unreasonably withheld. Lessee shall comply with
all laws, ordinances, orders, or regulations of any lawful authority having jurisdiction over the Building and the use thereof.

8.Assignment and Subletting.The Lessee shall not, without the
prior written consent of the Landlord, which consent shall not be unreasonably withheld, assign or sublet the Building or any part thereof, or permit the use of the Building by any party other than
the Lessee. Any permitted assignee shall be liable to landlord for all obligations of the Lessee hereunder, but the Lessee shall not be thereby relieved of such obligations except where, in Landlord's
sole discretion, Lessee has equal or better credit. Lessee shall be entitled to retain any net profits and/or gains as a result of any permitted Lease or assignment by the Lessee. Notwithstanding the
foregoing, the prohibition against assignment and subletting without Landlord's consent shall not apply to transactions with (i) a corporation into or with which Lessee is merged or
consolidated or with a person to which substantially all of Lessee's assets or stock are transferred, provided such merger or transfer of assets or stock is for a good business purpose and not
principally for the purpose of transferring the leasehold estate created by this Lease Agreement and provided further, that the assignee shall have a net worth of not less than Lessee's net worth on
the date immediately preceding the transaction, or (ii) any entity that controls Lessee or is controlled by Lessee or is under common control with Lessee [(either of (i) or
(ii) being referred to herein as "Related Transferee"] Lessee shall notify Landlord before any such transaction is consummated and furnish to Landlord documentation that such
assignee or Lessee qualifies as Related Transferee hereunder. The term "control" as used in this Section 8 shall mean (1) in the case of a corporation, ownership or more than 50% of the
outstanding stock of that corporation and control over the management of such corporation, (2) in the case of a general partnership, ownership of more than 50% of the general partnership
interests of the partnership and control over the management of such partnership, (3) in the case of a limited partnership, ownership of more than 50% of the general partnership interests of
the partnership and control over the management of such limited partnership, and (4) in the case of a limited liability company, ownership of more than 50% of the membership interests and
control over the management of the limited liability company.

Further,
notwithstanding the provisions of this Section, the transfer of the outstanding capital stock of any corporate tenant or subtenant as part of an initial public offering of stock
registered under the Securities Act of 1933, as amended, and the increase in the amount of issued and/or outstanding stock of any corporate tenant or of a corporate subtenant, as part of a registered
initial public offering of such capital stock, shall be deemed an assignment of this Lease. Lessee shall notify Landlord that such transaction is contemplated promptly after the registration statement
with respect to such transaction is filed, and thereafter Lessee shall notify Landlord prior to the actual consummation of such transaction. Lessee shall furnish to Landlord documentation indicating
that such transaction meets the above criteria.

All
parties acknowledge and agree that Lessee shall have various subtenants as of the time of execution of this agreement.

9.Lessee's Improvements.Lessee shall not be allowed to make
any alterations, additions, or improvements ("Lessee's Improvements") to the Leased Property, without first obtaining the written consent of the Landlord, which consent will not be unreasonably
withheld, provided same are consistent with the use of the Leased Property described herein and provided that same do not diminish the market value of the Leased Property or conflict with this Lease.
If the improvements, alterations or additions are to be made by a contractor other than Landlord's, Landlord approval shall be required, which approval shall not be unreasonably withheld. In the event
any of the Lessee's Improvements are to be installed on the roof of the Improvements, Lessee shall assume full responsibility for all maintenance and repair of the roof which may be attributed to such
installation. All Lessee Improvements shall be constructed at Lessee's expense and shall be and remain the

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property
of Lessee, until the termination of this Lease, at which time the Lessee Improvements shall become the property of Landlord. Provided, however, at the option of the Landlord, Landlord may
require Lessee, at the termination of this Lease, to remove any and all of the Lessee Improvements, Lessee shall be responsible for payment of the cost of repairing any damage arising from such
removal. The provisions of this section shall survive the termination of this Lease. It is understood by both parties that this Section shall not require Lessee to obtain Landlord's permission for
Lessee to remove Lessee's fixtures and equipment from the Leased Property before or after the termination of this Lease.

10.   Casualty and Insurance.



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11.Liability Insurance.During the full term of this Lease or
any renewal or extension thereof, Lessee shall, at its sole expense, procure and maintain in full force Public Liability Insurance (Comprehensive General Liability or Commercial General Liability)
including Contractual Liability Insurance, with a combined personal injury and property damage limit of not less than One Million Dollars ($1,000,000.00) for each occurrence and not less than Two
Million Dollars ($2,000,000.00) in the aggregate, insuring against all liability of Lessee and its representatives arising out of and in connection with Lessee's use or occupancy of the Leased
Property. Said insurance policy shall name the Landlord as an additional insured, and the policy shall provide that it not be canceled for any reason unless and until Landlord is given thirty
(30) days notice in writing by the insurance company of the pending cancellation. Lessee's insurance company shall provide Landlord with a certificate of insurance indicating the terms and
conditions of the policy.

All
insurance required under this Lease shall be issued by insurance companies licensed to do business in the jurisdiction where the Leased Property is located. Such companies shall have
a policyholder rating of at lease "A" and be assigned a financial size category of at least "Class X" as rated in the most recent edition of "Best's Key Rating Guide" for insurance companies. Each
policy shall contain an endorsement requiring thirty (30) days written notice from the insurance company to Landlord
before cancellation or any change in the coverage, scope or amount of any policy. Each policy, or a certificate showing it is in effect, together with evidence of payment of premiums, shall be
deposited with Landlord on or before the Commencement Date, and renewal certificates or copies of renewal policies shall be delivered to Landlord at least thirty (30) days prior to the
expiration date of any policy.

12.Maintenance.Lessee shall, at its risk, cost, and expense,
during the term of this Lease or any extension thereof, be responsible for the maintenance, replacement and repair of the Leased Property including, but not limited to, (i) all permanent,
non-removable improvements or additions made by Lessee, (ii) all structural, interior and exterior replacements and repairs and improvements including, but not limited to paint,
redecoration and renovation, (iii) utility systems, including, but not limited to fixtures, equipment, lines and connections associated with the heating, air conditioning, ventilating,
electrical, plumbing, and sprinkler systems, (iv) all windows, doors (including operational mechanisms and door mountings), (v) floors, (vi) signs, and (vii) grass,
landscaping, and fences, etc., as same become necessary and are required to maintain the Leased Property in as good and proper condition, and in good appearance, as at the date of the Commencement
Date, subject to normal wear and tear for the uses permitted herein. Lessee shall be required to have the HVAC systems kept under a maintenance service contract, which is reasonably satisfactory to
Landlord. Lessee shall keep sidewalks and personnel entranceways free from obstruction of all nature, properly swept, and snow and ice removed therefrom. Lessee agrees that Landlord shall have no
obligation under this Lease to make any repairs or replacements (including the replacement of obsolete components) to the Lease Property or the buildings or improvements thereon, or any alteration,
addition, change, substitution or improvement thereof or thereto, whether structural or otherwise. The terms "repair" and "replacement" include the replacement of any portions of the Lease Property
which have outlived their useful life during the term of the Lease (or any extensions thereof). Landlord and Lessee intend that the rent received by Landlord shall be free and clear of any expense to
Landlord for the construction, care, maintenance (including, if any, common area maintenance charges and charges accruing under easements or other agreements relating to the Lease Property),
operation, repair, replacement, alteration, addition, change, substitution and improvement of or to the Lease Property and any building and improvement thereon. Upon the expiration or earlier
termination of this Lease, Lessee shall remain responsible for, and shall pay to Landlord, any cost, charge or expense for which Lessee is otherwise responsible for hereunder

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attributable
to any period (prorated on a daily basis) prior to the expiration or earlier termination of this Lease.

13.Eminent Domain.If the whole of the Building, or such
portion thereof as will make the Building unsuitable for the use contemplated hereby, be taken under the power of eminent domain (including any conveyance in lieu thereof) then the term hereof shall
cease as of the date possession thereof is taken by the condemnor, and rental shall be accounted for as between Landlord and Lessee as of that date. If any lesser portion of the Building is thus
taken, rental shall abate in proportion to the loss of use occasioned thereby. Landlord shall receive the entire award for taking of real property and improvements. Lessee shall be entitled to any
award for the value of the Leasehold estate, its relocation costs and the loss of any personal property.

14.Indemnity.Lessee shall indemnify Landlord and save it
harmless from and against any and all claims, actions, damages, liability and expense in connection with loss of life, personal injury and/or damage to property arising from or out of the occupancy or
use by Lessee of the Building or any part thereof or any other part of Landlord's property, occasioned wholly or in part by any negligent act of omission of Lessee, its officers, agents, contractors
or employees.

15.Landlord's Entry.The Landlord and its agents may, after
giving Lessee prior notice, enter the Leased Property at any reasonable time for the purpose of inspecting the Leased Property, performing its obligations under this Lease, performing any work which
the Landlord elects to undertake for the safety, preservation, benefit or welfare of the Leased Property or its occupants, for performing any work which the Landlord elects to undertake made necessary
by reason of the Lessee's default, or to show the Leased Property to prospective purchasers, tenants and lenders.

Except
for negligence on the part of Landlord, Landlord shall not be liable for inconvenience, annoyance, disturbance, loss of business or other damage of Lessee by reason of making such
inspections, visits, repairs or the performance of any such work, so long as such actions on Landlord's part are not unreasonable.

16.Events of Default by Lessee.Lessee agrees to pay the Annual
Rent and the Additional Rent, as set forth in Section 6, at the time, in the amount and in the manner herein described. Any one of the following events shall be deemed a default by Lessee and a
breach of this Lease, namely:



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17.Events of Default by Landlord.If the Landlord shall
(i) fail to perform any of the covenants of this Lease Agreement, or (ii) if any of the Landlord's representations and warranties in Section 3 of this Lease Agreement shall prove
to be materially untrue (individually or collectively, a "default"), then if Landlord does not cure any such default within thirty (30) days after written notice shall be given to Landlord (or
such longer period as may be necessary to cure such default so long as Landlord initiates such cure within said thirty (30) days period and diligently pursues the same to completion, not to
exceed ninety (90) days), unless such default in the reasonable option of the Lessee constitutes an emergency, in which event Landlord shall have a reasonable period of time under the
circumstances to cure such default, then Lessee may as its sole option terminate this Lease Agreement.

18.Remedies on Default.In the event of any default by Lessee
as herein provided, Landlord at any time thereafter, shall have the following rights:



Landlord
may utilize and pursue such other actions and rights as it may have to protect its interests under the terms of this Lease, the laws of the United States and the State of South
Carolina as may be applicable. The mention in this Lease of any specific right or remedy of Landlord, or the waiver thereof, shall not preclude Landlord from exercising any other right or from having
any other remedy or from maintaining any action to which it may otherwise be entitled in law or in equity. No endorsement or statement on any check or accompanying any payment accepted by Landlord
shall be without prejudice to Landlord's right to obtain the balance due or pursue any other remedy available to Landlord both in law and in equity.

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Lessee
shall be liable for all reasonable court costs and attorneys fees and other reasonable expenses incurred by Landlord in enforcing any of the obligations of this Lease.

Lessee's
delinquent payments hereunder shall bear interest at a rate of two percent (2%) per annum higher than the average rate announced from time to time by major United States banks
in the Wall Street Journal, Charlotte, North Carolina edition, as a prime rate (the "Prime Rate") (but in no event
higher than the maximum rate allowed by law) until paid in full, which interest shall be deemed Additional Rent.

19.Remedies Cumulative Non-Waiver.No remedy herein
or otherwise conferred upon or reserved to Landlord or Lessee shall be considered exclusive of any other remedy, but the same shall be distinct, separate and cumulative and shall be in addition to
every other remedy given hereunder, or now or hereafter existing at law or in equity; and every power and remedy given by this Lease Agreement may be exercised from time to time as often as occasion
may arise or as may be deemed expedient. No delay or omission of a party hereto to exercise any right or power arising from any default on the part of the other shall impair any such right or power,
or shall be construed to be a waiver of any such default, or in acquiescence therein. The acceptance of rent by Landlord with knowledge of a default by Lessee hereunder shall not constitute a waiver
of such default.

20.Quiet Enjoyment.It is understood and agreed that subject to
the terms of this Lease, and to all covenants, additions, easements, liens and mortgages of record, that Lessee, paying the rent hereby reserved, and performing and observing the covenants hereof, may
peacefully hold and enjoy the said Leased Property throughout the duration of this Lease without any interruptions by the Landlord, its successors or assigns.

21.Estoppel Certificate.The Lessee shall, from time to time,
no later than fifteen (15) days following the written request of the Landlord, furnish Landlord a written statement, signed by Lessee concerning the status of any matter pertaining to the
Lease.

22.Subordination and Attornment.In the event of assignment of
Landlord's interest in the Leased Property, Lessee shall attorn to such successor of Landlord's interest therein and recognize such successor as Landlord under this Lease and shall promptly execute
and deliver any instrument that may be necessary to evidence such attornment. Such successor shall provide Lessee with an instrument recognizing Lessee's rights under this Lease, including Lessee's
right of quiet enjoyment and non-disturbance.

23.Right of First Refusal.Lessee has the right of first
refusal if landlord decides to sell the leased premises. Lessee has thirty (30) days after receiving notice from Landlord to inform landlord that it intends to purchase the leased premises.

24.Notices.A notice which may or shall be given under the
terms of this Lease shall be either delivered by facsimile, by hand or by Federal Express or another similar national, reputable, overnight courier or sent by United States Registered or Certified
Mail, postage prepaid; if for Landlord, to the address given below, or if for Lessee, to the Leased Property. Such address may be changed from time to time by either party by giving notice as provided
herein. Notice shall be deemed given when received

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(if
by facsimile), when delivered (if delivered by hand) or one (1) day after sending it via overnight courier or three (3) days after depositing in the mails, return receipt requested
(if delivered by mail).

Notice to Landlord:

Savings Associates
101 Pumpkin Lane
Sumter, SC 29150Notice to Lessee:

Robert E. Coffee, Jr., President & Chief Executive Officer
Tidelands Bank
875 Lowcountry Boulevard
Mount Pleasant, SC 29464Facsimile # (843) 388-8081


Notice
shall also be sent to the holder or holders of any mortgage or deed of trust covering the Building at such address as such holder or holders may have given by notice as herein
provided. Either party hereto, or any such holder, may from time to time, by notice as herein provided, designate a different address to which notices to it shall be sent.

25.Environmental.Lessee agrees that it shall not, nor shall it
permit others, in violation of environmental laws and regulations, to use, release, store, or dispose of any Hazardous Materials (as defined by environmental laws and regulations) on the Leased
Property nor shall Lessee contaminate the Leased Property or the environment.

If
Lessee or its agents, contractors, or employees, have actual knowledge of any release of any Hazardous Materials on the Leased Property, or of any inquiry or action by a government
agency
regarding such materials, Lessee shall immediately notify Landlord. Lessee agrees to abide by all applicable environmental laws and regulations as they apply to Lessee's possession, operation and use
of the Leased Property.

In
the event that the Leased Property or the environment becomes contaminated with Hazardous Materials as a result of Lessee's use, occupation, or possession of the Leased Property, it
shall be Lessee's sole responsibility and cost to remediate and take from the Leased Property said contamination. Further, Lessee shall indemnify and hold harmless Landlord from all reasonable claims,
costs and damages as a result of any environmental problems which are the result of Lessee's use, occupation, or possession of the Leased Property.

Landlord
specifically prohibits Lessee from installing, or allowing others to install, any underground bulk storage tanks on the Leased Property.

All
representations, warranties and indemnification provisions of this Section shall survive the termination of this Lease.

26.Governing Law.This Lease Agreement shall be construed and
enforced in accordance with the laws of the State of South Carolina.

27.Successors.This Lease Agreement shall be binding upon and
shall inure to the benefit of the parties hereto and their respective heirs, successors and assigns, except as otherwise provided for in this Lease Agreement. The covenants, conditions and agreements
contained in this Lease shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, executors, administrators, successors and assigns; but this provision shall in
no way alter the restrictions and requirements herein in connection with assignment and subletting by Lessee.

28.Name and Extent of Agreement.This Lease, together with all
exhibits which are attached hereto and by reference made a part hereof, constitutes the sole and entire contract between the

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parties
relative to the Leased Property. No prior written or contemporaneous oral promises or representations shall be binding. No subsequent alteration, amendment, change or addition to the Lease
shall be binding upon Landlord or Lessee unless reduced to writing and signed by both parties.

29.Holding Over.This Lease expires at the end of the term
defined herein without need for notice by Landlord, but it is expressly understood that if Lessee holds over for another month at the end of said
term for any purpose and if the Landlord accepts rent for said month, such acceptance shall operate as a renewal of the tenancy for another month and for each additional month for which Landlord
accepts rent. Should Landlord require possession of the Building, it shall give Lessee thirty (30) days notice to vacate the said Building. If Lessee fails to vacate the Building at the end of
such thirty-day period, the monthly rental thereafter shall be double the base rent prior to the holdover period.

30.Time is of the Essence.Time shall be of the essence with
regard to the dates of performance of all obligations specified herein, except that Landlord shall specifically state in any notice to Lessee which may adversely affect Lessee's rights under this
Agreement the specific deadline date that Landlord contends Lessee's failure to meet would constitute a default by Lessee under this Agreement.

31.Recording.This Lease Agreement may not be recorded without
Landlord's prior consent; however, Landlord agrees upon request of the Lessee to execute a memorandum hereof for recording purposes.

IN
WITNESS WHEREOF, the parties hereto have hereunto set their respective Hands and Seals on the day and year first herein above written.

|IN THE PRESENCE OF: |  | Lessee:
TIDELANDS NATIONAL BANK | 
|------------------- |  | ------------------------------- | 
|                    |  | By:                             | 
|                    |  |                                 | 
|                    |  | Its Authorized Officer          | 
|                    |  |                                 | 
|                    |  | Date signed by Lessee:          | 
|                    |  |                                 | 
|                    |  | Landlord:
SAVINGS ASSOCIATES    | 
|                    |  | By:                             | 
|                    |  |                                 | 
|                    |  | Its Authorized Officer          | 
|                    |  |                                 | 
|                    |  | Date signed by Landlord:        | 
|                    |  |                                 | 

EXHIBIT "A"

Property
Description

All
that certain piece, parcel or tract of land with all buildings thereon situate, lying and being known as 875 Lowcountry Boulevard, Mount Pleasant, South Carolina 29464, with Tax Map
Number 514-00-00-002.

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