**Exhibit 99.2**

 

**Certification**

 

I, Edward L. Loehr, Jr.,Chief Financial Officer, certify, based on my knowledge, that:

 

(i) The compensationcommittee of HCSB Financial Corporation (“HCSB”) has discussed, reviewed, andevaluated with senior risk officers at least every six months during the periodbeginning on June 15, 2009 and ending December 31, 2009 (the “applicableperiod”), the senior executive officer (SEO) compensation plans and theemployee compensation plans and the risks these plans pose to HCSB;

 

(ii) Thecompensation committee of HCSB has identified and limited during the applicableperiod any features of the SEO compensation plans that could lead SEOs to takeunnecessary and excessive risks that could threaten the value of HCSB, andduring that same applicable period has identified any features of the employeecompensation plans that pose risks to HCSB and has limited those features toensure that HCSB is not unnecessarily exposed to risks;

 

(iii) Thecompensation committee has reviewed, at least every six months during theapplicable period, the terms of each employee compensation plan and identifiedany features of the plan that could encourage the manipulation of reportedearnings of HCSB to enhance the compensation of an employee, and has limitedany such features;

 

(iv) Thecompensation committee of HCSB will certify to the reviews of the SEOcompensation plans and employee compensation plans required under (i) and (iii) above;

 

(v) The compensationcommittee of HCSB will provide a narrative description of how it limited duringany part of the most recently completed fiscal year that included a TARP periodthe features in

 

(A) SEO compensationplans that could lead SEOs to take unnecessary and excessive risks that couldthreaten the value of HCSB;

 

(B) Employeecompensation plans that unnecessarily expose HCSB to risks; and

 

(C) Employeecompensation plans that could encourage the manipulation of reported earningsof HCSB to enhance the compensation of an employee;

 

(vi) HCSB hasrequired that bonus payments, as defined in the regulations and guidanceestablished under section 111 of EESA (bonus payments), of the SEOs and twentynext most highly compensated employees be subject to a recovery or “clawback”provision during any part of the most recently completed fiscal year that was aTARP period if the bonus payments were based on materially inaccurate financialstatements or any other materially inaccurate performance metric criteria;

 

(vii) HCSB hasprohibited any golden parachute payment, as defined in the regulations andguidance established under section 111 of EESA, to an SEO or any of the nextfive most highly compensated employees during the period beginning on the laterof the closing date of the agreement between HCSB and Treasury or June 15,2009 and ending with the last day of HCSB’ fiscal year containing that date;

 

(viii) HCSB haslimited bonus payments to its applicable employees in accordance with section111 of EESA and the regulations and guidance established thereunder during theperiod beginning on the later of the closing date of the agreement between HCSBand Treasury or June 15, 2009 and ending with the last day of HCSB’ fiscalyear containing that date;

 

(ix) The board ofdirectors of HCSB has established an excessive or luxury expenditures policy,as defined in the regulations and guidance established under section 111 ofEESA, by the later of September 14, 2009, or ninety days after the closingdate of the agreement between the TARP recipient and Treasury; this policy hasbeen provided to Treasury and its primary regulatory agency; HCSB and itsemployees have complied with this policy during the applicable period; and anyexpenses that, pursuant to this policy, required

 

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approval of the board ofdirectors, a committee of the board of directors, an SEO, or an executiveofficer with a similar level of responsibility were properly approved;

 

(x) HCSB will permita non-binding shareholder resolution in compliance with any applicable Federalsecurities rules and regulations on the disclosures provided under theFederal securities laws related to SEO compensation paid or accrued during anypart of the most recently completed fiscal year that was a TARP period;

 

(xi) HCSB will disclosethe amount, nature, and justification for the offering during the periodbeginning on the later of the closing date of the agreement between HCSB andTreasury or June 15, 2009 and ending with the last day of HCSB’ fiscalyear containing that date of any perquisites, as defined in the regulations andguidance established under section 111 of EESA, whose total value exceeds$25,000 for any employee who is subject to the bonus payment limitationsidentified in paragraph (viii);

 

(xii) HCSB will disclosewhether HCSB, the board of directors of HCSB, or the compensation committee ofHCSB has engaged during any part of the most recently completed fiscal yearthat was a TARP period a compensation consultant; and the services thecompensation consultant or any affiliate of the compensation consultantprovided during this period;

 

(xiii) HCSB hasprohibited the payment of any gross-ups, as defined in the regulations andguidance established under section 111 of EESA, to the SEOs and the next twentymost highly compensated employees during any part of the most recentlycompleted fiscal year that was a TARP period;

 

(xiv) HCSB hassubstantially complied with all other requirements related to employeecompensation that are provided in the agreement between HCSB and Treasury,including any amendments;

 

(xv) HCSB has submittedto Treasury a complete and accurate list of the SEOs and the twenty next mosthighly compensated employees for the current fiscal year and the most recentlycompleted fiscal year, with the non-SEOs ranked in descending order of level ofannual compensation, and with the name, title, and employer of each SEO andmost highly compensated employee identified; and

 

(xvi) I understand that aknowing and willful false or fraudulent statement made in connection with thiscertification may be punished by fine, imprisonment, or both. (*See,*for example 18 U.S.C. 1001.)

 
| Date: March 18,  2010 |                                                |
|----------------------------|-----------------------------------------------------|
|                       | /s/ Edward L.  Loehr, Jr.                      |
|                       | Edward L.  Loehr, Jr., Chief Financial Officer |
|                       | (Principal Financial  and Accounting Officer)       |

 

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