HCSB Financial Corp. announced earnings results for the first quarter ended March 31, 2009. For the quarter, the company reported net loss of $439,000. In contrast, the company posted a net income of $747,000 for the same quarter in the previous year.

HCSB Financial Corp., Annual General Meeting, Apr 23, 2009, at 19:00 Eastern Daylight. Location: Center for Health and Fitness, 3207 Casey Street, Loris, South Carolina, United States. Agenda: To elect five members to the board of directors; to ratify the appointment of company's independent registered public accountants; to obtain an advisory, non-binding resolution approving the compensation of the company's named executive officers as determined by the compensation committee; and to transact any other business that may properly come before the meeting or any adjournment of the meeting.

On March 6, 2009, HCSB Financial Corp. filed with the Secretary of State of the State of South Carolina Articles of Amendment to the company’s restated articles of incorporation establishing the terms of the Series T Preferred Stock. On February 26, 2009, the company adopted the following amendment of its articles of incorporation, as set out in the following Certificates of Designations: Certificate of Designations of Fixed Rate Cumulative Preferred Stock, Series T, attached hereto. Such amendment does thereby designate, create, authorize and provide for the issue of a series of preferred stock, having $0.01 par value per share and a liquidation preference of $1,000.00 per share, which shall be designated as Fixed Rate Cumulative Perpetual Preferred Stock, Series T, having the voting powers, preferences and relative, participating, optional and other special rights, and qualifications, limitations and restrictions thereof set out on the Certificate of Designations attached hereto and made a part hereof. Such amendment was duly authorized by the Board of Directors and shareholder action was not required, pursuant to the authority granted in the Company’s Amended and Restated Articles of Incorporation and Section 33-6-102 of the Code. The effective date of these Articles of Amendment shall be 8:00 am on March 6, 2009 in accordance with the provisions of Section 33-1-230 of the Code.