GRRB Stock, GrandSouth Bancorporation Information

GrandSouth Bancorporation the Company is a South Carolina corporation organized in under the laws of South Carolina for the purpose of being a bank holding company for GrandSouth Bank the Bank . On October , , pursuant to a Plan of Exchange approved by the shareholders, all of the outstanding shares of capital stock of the Bank were exchanged for shares of the Company and the Company became the owner of all of the outstanding capital stock of the Bank. The Company presently engages in no business other than that of owning the Bank and has no employees. The Bank is a South Carolina state bank, which was incorporated and commenced operations as a commercial bank in . The Bank operates from its offices in Greenville, Fountain Inn, Greer and Anderson, South Carolina. The main office is located at Halton Road in Greenville, SC. The Bank offers a full array of commercial bank services. Deposit services include business and personal checking accounts, savings accounts, money market accounts, various term certificates of deposit, IRA accounts, and other deposit services. Most of the Bank s deposits are attracted from individuals and small businesses. The Bank does not offer trust or brokerage services.