SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  FORM 10-KSB/A

                Annual Report Pursuant to Section 13 or 15(d) of
                       The Securities Exchange Act of 1934

                     For fiscal year ended December 31, 2002

                        Commission File Number 000-26995

                           HCSB FINANCIAL CORPORATION*
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             (Exact name of Registrant as specified in its charter)

         South Carolina                              57-1079444
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(State or other jurisdiction                      (I.R.S. Employer
 of incorporation or organization)                Identification No.)


5201 Broad Street, Loris, South Carolina                  29569
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(Address of principal executive offices)               (Zip Code)

         Registrant's telephone number, including area code 843/756-6333
                                                            ------------

        Securities registered pursuant to Section 12(b) of the Act: None

    Securities registered pursuant to Section 12(g) of the Act: Common Stock

Indicate by check mark whether the issuer (1) has filed all reports required to
be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter periods that the Registrant was
required to file such reports), and (2) has been subject to such filing
requirement for the past 90 days. Yes X No__

Check if there is no disclosure of delinquent filers in response to Item 405 of
Regulation S-B in this form, and no disclosure will be contained, to the best of
registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-KSB or any amendment to
this Form 10-KSB. [X]

The issuer's revenues (net interest income plus noninterest income) for its most
recent fiscal year were $14,011,000.

The aggregate market value (computed on the basis of the most recent trades of
which the issuer was aware) of shares of the Common Stock held by non-affiliates
of the registrant as of March 21, 2003 was $35,593,765. The market value
calculation assumes that all shares beneficially owned by members of the board
of directors of the issuer are shown owned by "affiliates", a status which each
of the directors individually disclaims.

The number of shares outstanding of the issuer's classes of common stock as of
March 21, 2003, was 1,547,555.

Transitional Small Business Disclosure Format. (Check one): Yes         No   X
                                                                 ------    -----

                       DOCUMENTS INCORPORATED BY REFERENCE

                   Company's              Proxy Statement for the 2003 Annual
                                          Shareholders Meeting - Part III 2002
                                          Annual Report - - Part II.

*The registrant is a successor issuer, within the meaning of Rule 15d-5 under
the Securities Exchange Act of 1934, to Horry County State Bank, Loris, South
Carolina.



<PAGE>



                                EXPLANATORY NOTE

         This 10-KSB/A is being filed to add the Section 302 certifications
which were inadvertently edgarized as correspondence rather than as a part of
the original 10-KSB. No other changes have been made to the original 10-KSB.





                                     2
<PAGE>




                                   SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.

                                                HCSB FINANCIAL CORPORATION

Date:  March 28, 2003                           By: /s/ James R. Clarkson
                                                --------------------------
                                                James R. Clarkson, President
                                                & Chief Executive Officer

          Pursuant to the requirements of the Securities Exchange Act of 1934,
this report has been signed below by the following persons on behalf of the
registrant and in the capacities and on the date indicated:

By:    /s/ Johnny C. Allen
       -------------------------
        Johnny C. Allen, Director

By:   /s/ Clay D. Brittain
      ---------------------------
        Clay D. Brittain, Director


By:   /s/ Russell R. Burgess, Jr.
      -----------------------------------
        Russell R. Burgess, Jr., Director


By:   /s/ D. Singleton Bailey
      -------------------------------
        D. Singleton Bailey, Director


By:   /s/ Franklin C. Blanton
      -------------------------------
        Franklin C. Blanton, Director


By:   /s/ William H. Caines
      -------------------------------
        William H. Caines, Director


By:   /s/ James R. Clarkson                             Date:  March 28, 2003
      ---------------------------------------------
        James R. Clarkson, Director, President & CEO


By:  /s/ J. Lavelle Coleman
     ------------------------------
        J. Lavelle Coleman, Director


By:   /s/ Larry G. Floyd
     ----------------------------
        Larry G. Floyd, Director


By:  /s/ Boyd R. Ford, Jr.
     -----------------------------
        Boyd R. Ford, Jr., Director


By:  /s/ Tommie W. Grainger
     -------------------------------
        Tommie W. Grainger, Director


By:  /s/ Randy B. Hardee
     ------------------------------
        Randy B. Hardee, Director


By:  /s/ Michael W. Hambrick
     ----------------------------------------
        Michael W. Hambrick, Vice President and
        Chief Financial Officer (Principal
        Accounting Officer)

By:  /s/ Gwyn G. McCutchen
         ---------------------------
         Gwyn G. McCutchen, Director

By:     /s/ T. Freddie Moore
        --------------------------
        T. Freddie Moore, Director

By:     /s/ Carroll D. Padgett, Jr.
       ---------------------------
        Carroll D. Padgett, Jr., Director

By:     /s/ Bill G. Page
       ---------------------------
        Bill G. Page, Director

By:    /s/ James R. Clarkson                             Date:  March 28, 2003
       ---------------------------------------------
        As Attorney-In-Fact

<PAGE>

                                        3

                                  Certification

I, James R. Clarkson, certify that:

1. I have reviewed this annual report on Form 10-KSB of HCSB Financial
Corporation;

2. Based on my knowledge, this annual report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this annual
report;

3. Based on my knowledge, the financial statements, and other financial
information included in this annual report, fairly present in all material
respects the financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this annual report;

4. The registrant's other certifying officer and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

         a) designed such disclosure controls and procedures to ensure that
         material information relating to the registrant, including its
         consolidated subsidiaries, is made known to us by others within those
         entities, particularly during the period in which this annual report is
         being prepared;

         b) evaluated the effectiveness of the registrant's disclosure controls
         and procedures as of a date within 90 days prior to the filing date of
         this annual report (the "Evaluation Date"); and

         c) presented in this annual report our conclusions about the
         effectiveness of the disclosure controls and procedures based on our
         evaluation as of the Evaluation Date;

5. The registrant's other certifying officer and I have disclosed, based on our
most recent evaluation, to the registrant's auditors and the audit committee of
registrant's board of directors (or persons performing the equivalent function):

         a) all significant deficiencies in the design or operation of internal
         controls which could adversely affect the registrant's ability to
         record, process, summarize and report financial data and have
         identified for the registrant's auditors any material weaknesses in
         internal controls; and

         b) any fraud, whether or not material, that involves management or
         other employees who have a significant role in the registrant's
         internal controls; and

6. The registrant's other certifying officer and I have indicated in this annual
report whether or not there were significant changes in internal controls or in
other factors that could significantly affect internal controls subsequent to
the date of our most recent evaluation, including any corrective actions with
regard to significant deficiencies and material weaknesses.


Date: March 25, 2003

                                                    /s/ James R. Clarkson
                                                    ---------------------
                                                     James R. Clarkson
                                                     President and Chief
                                                     Executive Officer



<PAGE>                                4


                                  Certification

I, Michael W. Hambrick, certify that:

1.   I have reviewed this annual report on Form 10-KSB of HCSB Financial
     Corporation;

2.   Based on my knowledge, this annual report does not contain any untrue
     statement of a material fact or omit to state a material fact necessary to
     make the statements made, in light of the circumstances under which such
     statements were made, not misleading with respect to the period covered by
     this annual report;

3.   Based on my knowledge, the financial statements, and other financial
     information included in this annual report, fairly present in all material
     respects the financial condition, results of operations and cash flows of
     the registrant as of, and for, the periods presented in this annual report;

4.   The registrant's other certifying officer and I are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

a)   designed such disclosure controls and procedures to ensure that material
     information relating to the registrant, including its consolidated
     subsidiaries, is made known to us by others within those entities,
     particularly during the period in which this annual report is being
     prepared;

b)   evaluated the effectiveness of the registrant's disclosure controls and
     procedures as of a date within 90 days prior to the filing date of this
     annual report (the "Evaluation Date"); and

c)   presented in this annual report our conclusions about the effectiveness of
     the disclosure controls and procedures based on our evaluation as of the
     Evaluation Date;

5.   The registrant's other certifying officer and I have disclosed, based on
     our most recent evaluation, to the registrant's auditors and the audit
     committee of registrant's board of directors (or persons performing the
     equivalent function):

a)   all significant deficiencies in the design or operation of internal
     controls which could adversely affect the registrant's ability to record,
     process, summarize and report financial data and have identified for the
     registrant's auditors any material weaknesses in internal controls; and

b)   any fraud, whether or not material, that involves management or other
     employees who have a significant role in the registrant's internal
     controls; and

6.   The registrant's other certifying officer and I have indicated in this
     annual report whether or not there were significant changes in internal
     controls or in other factors that could significantly affect internal
     controls subsequent to the date of our most recent evaluation, including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.

Date: March 25, 2003
                                                    /s/ Michael W. Hambrick
                                                     -----------------------
                                                     Michael W. Hambrick
                                                     Chief Financial Officer




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                                  EXHIBIT INDEX


3.1      Articles of Incorporation (incorporated by reference to Exhibit 3.1 to
         the Company's Form 10-K for the fiscal year ended December 31, 1999).

3.2      Bylaws (incorporated by reference to Exhibit 3.2 to the Company's Form
         10-K for the fiscal year ended December 31, 1999).

13.1     Annual Report to Shareholders for the year ended December 31, 2002
        (incorporated to Exhibit 13 to the Company's Form 10-KSB for the period
         ended December 31, 2002).

21.1.    Subsidiaries of the Company (incorporated to Exhibit 21 to the
         Company's Form 10-KSB for the period ended December 31, 2002).

24       Power of Attorney (incorporated to Exhibit 24 to the Company's Form
         10-KSB for the period ended December 31, 2002).