Approval of Application by Max Bancorp, LLC, New York, New York to Become a Bank Holding Company

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Press Release

Approval of Application by Max Bancorp, LLC, New York, New York to Become a Bank Holding Company

October 27, 2009

NEW YORK—The Federal Reserve Bank of New York approved the application by Max Bancorp, LLC, New York, New York to become a bank holding company through the acquisition of Sandhills Holding Company, Inc., and indirectly, Sandhills Bank, both of North Myrtle Beach, South Carolina, pursuant to Section 3(a)(1) of the Bank Holding Company Act of 1956, as amended.

According to standard procedure, the proposal cannot be completed for 15 days.

The Reserve Bank acted under authority delegated by the Board of Governors of the Federal Reserve System.

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