Shares* SOUTHCOAST FINANCIAL CORPORATION Common Stock UNDERWRITING AGREEMENTUnderwriting Agreement • October 13th, 2005 • Southcoast Financial Corp • State commercial banks • Georgia
Southcoast Financial Corporation, a South Carolina corporation (the “Company”), proposes, subject to the terms and conditions stated herein, to issue and sell to Morgan Keegan & Company, Inc. (the “Underwriter”), an aggregate of shares of its Common Stock, no par value per share (the “Common Stock”). The aggregate of shares of Common Stock to be purchased from the Company are called the “Firm Shares.” In addition, the Company has agreed to sell to the Underwriter, upon the terms and conditions stated herein, up to an additional shares of Common Stock (the “Additional Shares”) to cover over-allotments by the Underwriter, if any. The Firm Shares and the Additional Shares are collectively referred to in this Underwriting Agreement as the “Shares.”
