Elloree’s only bank branch closing Aug. 26

SouthState Bank will close and consolidate its Elloree branch at 6512 Old Number Six Highway into its Santee branch at 657 Bass Drive. The move will be effective Aug. 26.

“Like every other bank, SouthState has experienced high levels of digital adoption accelerated by the COVID-19 pandemic, which has resulted in less traffic to some of our branch banking locations,” SouthState said in a prepared statement. “SouthState routinely assesses the company’s operations and makes adjustments based on changing consumer behaviors and in-branch traffic and demand.”

“The decision to close the Elloree, SC branch is the result of that review process,” the statement said. “Customers that currently bank at the Elloree branch will be invited to bank at our branch located at 657 Bass Drive in Santee, SC, which is approximately six miles from our Elloree branch.” 

“SouthState Bank’s history has been one that has been very supportive of the community and its customers,” Elloree Mayor Mike Fanning said. “We will miss them and we wish they would stay.”

Fanning said despite the departure of the town’s only bank, the “best days are still ahead” for Elloree with the expected growth of housing both in and outside the town. He also noted there are plans to continue to revitalize the downtown district.

He said two banks — Farmers and Merchants Bank and First National Bank — have expressed an interest in bringing services to the town.

“Both banks are weighing what real estate options are available,” Fanning said, adding that he believes Elloree would be able to support one bank but probably no more at this point in time.

Fanning also noted that SouthState will deed its branch to the town with plans to move town hall and the city’s police department into the building. Fanning said the current town hall could be a good location for a business.

Elloree has had a bank presence at least for a century.

According to a March 24, 1921, edition of The Times and Democrat there was a First National Bank located in Elloree at the time.

The bank remained until 1993, when it was purchased by First National Bank of Orangeburg.

In June 2001, the bank — First National Corporation — moved its headquarters from Orangeburg to Columbia and became South Carolina Bank and Trust in 2002. The Elloree bank assumed the same name.

As the bank continued to grow, it changed its name again in June 2014 to SouthState Bank.

SouthState Bank today has over 275 branches in six states including six branches in The T&D Region and three ATM locations.