Another local bank issued a cease and desist

Another bank with local ties is under scrutiny by federal regulators. Woodlands Bank has branches in Wilmington and Southport.

The bank is based in Bluffton, South Carolina. A spokesperson confirms the bank has been issued a cease and desist order, mandating the bank change the way it operates.

Among other things, Woodlands Bank has to come up with a new business plan, and increase capital by the end of the year. The company is “absolutely confident” this will happen.

Customers should not see any changes.