SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
ANCHOR FINANCIAL CORPORATION
(Name of Issuer)
Common Stock
(Title of Class of Securities)
0330361-04
(CUSIP Number)
Check the following space if a fee is being paid with this statement X
1) Name and I.R.S. Identification Number of Reporting Persons.
The Anchor Bank Employee Stock Ownership Plan - 57-0744013.
2) Check the Appropriate Box if a Member of a Group
(a)
(b)
3) SEC Use
4) Citizenship or Place of Organization: South Carolina
Number of (5) Sole Voting Power 361,685
Shares
Beneficially (6) Shared Voting Power 0
Owned by
Each Report- (7) Sole Dispositive Power 361,685
ing Person
With (8) Shared Dispositive Power 0
9) Aggregate Amount Beneficially Owned be Each Reporting Person 361,685
10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares
11) Percent of Class Represented by Amount in Row (9) 5.54%
12) Type of Reporting Person EP
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Item 1
(a) Anchor Financial Corporation
(b) 2002 Oak Street
Myrtle Beach, South Carolina 29577
Item 2
(a) Anchor Bank Employee Stock Ownership Plan
(b) 2002 Oak Street
Myrtle Beach, South Carolina 29577
(c) United States
(d) Common Stock
(e) CUSIP Number: 0330361-04
Item 3
(a) Broker or Dealer registered under Section 15 of the Act
(b) Bank as defined in Section 3(a)(6) of the Act
(c) Insurance Company as defined in Section 3(a)(19) of the Act
(d) Investment Company registered under section 8 of the
Investment Company Act
(e) Investment Adviser registered under section 203 of the
Investment Advisors Act of 1940
(f) X Employee Benefit Plan, which is subject to the
provisions of the Employee Retirement Income Security Act
of 1974
(g) Parent Holding Company
(h) Group, in accordance with ss. 240.13d-1(b)(1)ii(H)
Item 4: Ownership as of December 31, 1998
(a) Amount Beneficially Owned 361,685
(b) Percent of Class 5.54%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote 361,685
(ii) shared power to vote or to direct the vote 0
(iii) sole power to dispose or to direct the disposition of 361,685
(iv) shared power to dispose or to direct the disposition of 0
Item 5
Not applicable.
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Item 6
Not applicable.
Item 7
Not applicable.
Item 8
Not applicable.
Item 9
Not applicable.
Item 10
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any transaction having
such purposes or effect.
Signature.
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
January 18, 1999
Date
By: /s/ Tommy E. Looper
Signature
Tommy E. Looper/Executive Vice President
Name/Title
