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): 0607/0803/2012

Waccamaw Bankshares, Inc.

(Exact name of registrant as specified in its charter)

Commission File Number: 001-33046

North Carolina		52-2329563
(State or other jurisdiction of		(IRS Employer
incorporation)		Identification No.)

P.O. Box 2222, Whiteville, North Carolina 28472

(Address of principal executive offices, including zip code)

(910) 641-0044

(Registrant’s telephone number, including area code)

~~110~~Not ~~North~~applicable ~~J.K. Powell Boulevard, Whiteville, North Carolina 28472~~

(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:

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

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

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

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

Item 21.0102. ~~Completion~~Termination of ~~Acquisition~~a orMaterial ~~Disposition~~Definitive ~~of Assets~~Agreement

On ~~June~~July 83, 2012, ~~the~~Waccamaw ~~Registrant's~~Bankshares, ~~wholly~~Inc. ~~owned~~(the ~~subsidiary~~"Company"), ~~Waccamaw~~received notice from First Bank, ~~Whiteville~~Troy, North Carolina, ~~(the~~of "First Bank")'s termination of the branch purchase and assumption agreement, ~~was~~dated ~~closed~~October by21, 2011, between Waccamaw Bank, the ~~North~~Company, ~~Carolina~~and ~~Office~~First ofBank. Under the ~~Commissioner~~terms of ~~Banks~~the ~~and~~agreement, First Bank was to acquire all the ~~Federal~~premises ~~Deposit~~and ~~Insurance~~equipment ~~Corporation~~at (eleven Waccamaw Bank branches, all deposits at the ~~"FDIC")~~branches, ~~was~~and ~~named~~selected ~~receiver~~loans. The Nodeposit ~~advance~~premium ~~notice~~varied isby ~~given~~account type, with the blended premium estimated at 1.5%. The branch facilities were to be purchased at book value and the ~~public~~loans ~~when~~were ato ~~financial~~be ~~institution~~purchased isat ~~closed~~par.As A acopy ~~result~~ of the ~~closure~~agreement ~~and~~was ~~pursuant~~included as exhibit 10.1 to the ~~Federal~~Company's ~~Deposit~~current ~~Insurance~~report ~~Act~~on Form 8-K, which was filed with the ~~Registrant~~Securities ~~has~~and ~~lost~~Exchange ~~all~~Commission ~~rights~~on ~~with~~October ~~respect~~27, to2011. First Bank terminated the ~~issued~~agreement ~~and~~under ~~outstanding~~section ~~shares~~10.1(c) of the agreement, which permitted either Waccamaw Bank's ~~common~~or ~~stock~~First ~~and~~Bank ~~preferred~~to ~~stock~~terminate the agreement in the event that the closing of the branch purchase and ~~such~~assumption ~~shares~~transaction ~~now~~had ~~have~~not nooccurred ~~value.~~by ~~The~~June ~~Registrant~~30, 2012. Each party is noresponsible ~~longer~~for apaying its own costs and expenses incurred in connection with the proposed transaction. The Company was formerly the bank holding company ~~registered~~for ~~under~~Waccamaw ~~the~~Bank. On June 8, 2012, Waccamaw Bank ~~Holding~~was ~~Company~~closed ~~Act~~by the North Carolina Office of ~~1956.~~the ~~The~~Commissioner ~~FDIC,~~of ~~acting~~Banks inand ~~its~~the ~~capacity~~Federal asDeposit Insurance Corporation (the "FDIC") was named receiver. As a result of the closure, the Company lost all rights with respect to the issued and outstanding shares of Waccamaw Bank's common stock and preferred stock. The FDIC entered into a purchase and assumption agreement with First Community Bank, Bluefield, Virginia, whereby First Community Bank assumed all deposit liabilities and substantially all of the assets of ~~the~~Waccamaw Bank. Each of ~~the~~Waccamaw Bank's sixteen ~~offices~~branches re-opened as ~~offices~~branches of First Community Bank on June 11, 2012.

Item 8.01. Other Events

The disclosure contained under Item 2.01 of this Current Report on Form 8-K is incorporated into this Item 8.01 by reference.

SIGNATURES

Pursuant 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.

		Waccamaw Bankshares, Inc.
Date: June 11, 2012	By:	/s/ Geoffrey R. Hopkins
Date: July 10, 2012	By:	/s/ Geoffrey R. Hopkins
		Geoffrey R. Hopkins
		President

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