Waccamaw Bankshares Receives Letter From Nasdaq Relating to Its Late Form 10-Q

Waccamaw Bankshares, Inc.

announced today that it received a non-compliance notice from The Nasdaq Stock Market stating that the company is not in compliance with Nasdaq Listing Rule 5250(c)(1) because the company has not timely filed its Quarterly Report on Form 10-Q for the quarter ended June 30 with the Securities and Exchange Commission. On June 24, the Listing Qualifications Department of Nasdaq denied the company's request for continued listing on the Nasdaq Global Market. The company is subject to delisting because it has not filed its Annual Report on Form 10-K for 2010 or its Quarterly Report on Form 10-Q for the quarter ended March 31 with the Securities and Exchange Commission.