UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 59, 2010

Beach First National Bancshares, Inc.
(Exact name of registrant as specified in its charter)


South Carolina	000-22503	57-1030117
(State or other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

3751 Robert M. Grissom Parkway, Suite 100, Myrtle Beach, South Carolina		29577
3751 Robert M. Grissom Parkway, Suite 100,Myrtle Beach, South Carolina		29577
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code: (843) 626-2265

(Former name or former address if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

~~ITEM~~Item 31.0103 ~~Notice~~Bankruptcy ~~of Failure to Satisfy a Continued Listing Rule~~ or ~~Standard~~Receivership.

On April 59, 2010, the Office of the Comptroller of the Currency (the “OCC”) closed Beach First National Bank (the “Bank”), which is a wholly owned national banking association subsidiary of Beach First National Bancshares, Inc. (~~NASDAQ: BFNB~~the “Company”), (and the Federal Deposit Insurance Corporation (“~~Company~~FDIC”), ~~received a~~was ~~letter~~named ~~from~~as ~~NASDAQ~~the ~~that~~receiver ~~stated~~of the Bank. The Company’s principal asset is the common stock ~~closed~~that ~~below~~ it owns in the ~~required~~Bank, ~~minimum~~and, ~~bid~~as ~~price~~a result of ~~$1.00~~the ~~per~~closure ~~share~~of ~~for~~the Bank, the ~~previous~~Company ~~30 consecutive~~has ~~business~~very ~~days~~limited remaining tangible assets. As ~~Pursuant~~the toowner ~~Marketplace~~of ~~Rule 5450(a)(1)~~all of the capital stock of the Bank, ~~listed~~the ~~companies~~Company ~~are~~would ~~required~~be entitled to ~~maintain~~the anet ~~minimum~~recoveries, ~~bid~~if ~~price~~any, following the liquidation or sale of $1the Bank or its assets by the FDIC.00 However, ~~per~~at ~~share~~this time, the Company does not anticipate that any recovery will be realized by the Company. Accordingly, the Company’s common stock is likely to be of no value.

The Company’s common stock will continue to trade on The NASDAQ Global Market under the symbol BFNB, as the requirement has no effect at this time on the Company’s listing on The NASDAQ Global Market. In ~~accordance~~connection with ~~Marketplace~~the ~~Rule~~closure ~~5810(c)(3)(A),~~of the ~~Company~~ ~~has a 180 calendar day grace period~~Bank, ~~until October 4, 2010, in which to regain compliance with~~ the ~~listing~~FDIC ~~standards~~issued ~~of Rule 5450(~~a~~)(1). If~~ atpress ~~any~~release, ~~time~~dated ~~before October~~April 49, 2010, ~~the~~announcing ~~bid price of~~ the ~~Company’s common stock closes with a bid price of $1.00 per share or more~~following: ~~for a minimum of 10 consecutive business days, NASDAQ will notify the Company~~ ~~that it has regained compliance with Rule~~ ~~5450(a)(1).~~

2 • The FDIC entered into a purchase and assumption agreement with the Bank of North Carolina, Thomasville, North Carolina (“Bank of North Carolina”) to assume all of the deposits of the Bank. Accordingly, all depositors of the Bank, including those with deposits in excess of the FDIC’s insurance limits, will automatically become depositors of Bank of North Carolina for the full amount of their deposits, and they will continue to have uninterrupted access to the Bank’s deposits. Depositors will continue to be insured with Bank of North Carolina, so there is no need for customers to change their banking relationship to retain their deposit insurance.

2 • The Bank’s seven offices reopened on Monday, April 12, 2010, as branches of Bank of North Carolina. However, for a period of time, customers of the Bank should continue to use their existing locations until Bank of North Carolina can fully integrate the deposit records of the Bank.

~~SIGNATURES~~ • In addition to assuming all of the deposits of the Bank, Bank of North Carolina will purchase essentially all of the Bank’s assets pursuant to a loss-share transaction of approximately $497.9 million of the Bank’s assets. The loss-share transaction provides for the Bank of North Carolina and the FDIC to share in the losses on the assets covered under this agreement.

~~Pursuant~~• toCustomers ~~the requirements~~who ofhave questions about the ~~Securities~~foregoing ~~Exchange~~matters, ~~Act~~or ofwho ~~1934,~~would like more information about the ~~Registrant~~closure ~~has~~of ~~duly caused~~the ~~this~~Bank, ~~report~~can tovisit bethe ~~signed~~FDIC’s onweb ~~its~~site ~~behalf~~located byat http://www.fdic.gov/bank/individual/failed/beachfirst.html, or call the ~~undersigned~~FDIC ~~hereunto~~toll-free ~~duly authorized~~at (800) 823-3215.

~~BEACH~~ A ~~FIRST~~complete copy of the FDIC’s press release can be found on the Internet at ~~NATIONAL~~http://www.fdic.gov/bank/individual/failed/beachfirst.html. ~~BANCSHARES~~The management teams of the Company and the Bank have been working closely with the OCC, ~~INC~~the FDIC and Bank of North Carolina to make the transition as smooth as possible for the Bank’s customers.

~~By:~~In connection with the receivership of the Bank, both the Company and the Bank expect to receive notices from substantially all of the counterparties (including, without limitation, lenders) to the Company’s and/or Bank’s material agreements, of alleged events of default under those agreements, and of those counterparties’ intentions to terminate those agreements or accelerate the Company’s and/or the Bank’s performance of those agreements. The Company ~~Gary~~and/or Sthe Bank may dispute certain of those notices. However, in the event of a default by the Company and/or Bank ~~Austin~~ under one or more of those material agreements, or in the event of the termination of one or more of the material ~~Name: Gary~~agreements, Sthe Company’s and/or Bank’s financial and other obligations under such agreements may be accelerated. The Company ~~Austin~~and/or Bank may be subject to penalties under those agreements and also may suffer cross-default claims from ~~Title:~~counterparties ~~Chief~~under ~~Financial~~the ~~Officer~~Company’s and/or Bank’s other agreements.

3SIGNATURES

3Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

BEACH FIRST NATIONAL BANCSHARES, INC.

By: /s/ Gary S. Austin
Name: Gary S. Austin
Title: Chief Financial Officer

Dated: April 12, 2010

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