AMENDED AND RESTATED EMPLOYMENT AGREEMENT

                                                                    Exhibit 10-3

                THIS CONTRACT IS SUBJECT TO ARBITRATION PURSUANT
                  TO THE SOUTH CAROLINA UNIFORM ARBITRATION ACT

                    AMENDED AND RESTATED EMPLOYMENT AGREEMENT

         This  Amended and Restated  Agreement  (as amended and  restated,  this
"Agreement") is entered into as of the 7th day of December, 2007, by and between
Community  Resource  Bank,  N.A.  (the  "Company"),  and  Michael  A. Wolfe (the
"Employee").

                                    RECITALS:

         A. The Company and the Employee entered into an Employment Agreement as
of October 2, 2006 (the "Original Agreement").

         B. The Company  wishes to continue to employ  Employee as an  executive
officer and to assure the Employee's  continued employment with the Company, and
the Employee has agreed to continue to accept such employment.

         C. The Company and the Employee  continue to mutually desire that their
employment  relationship  be set forth  under the terms of a written  employment
agreement.

         D. The Company and the Employee desire to amend the Original  Agreement
in compliance  with Internal  Revenue Code Section 409A and  associated  federal
regulations.

         In  consideration  of the  foregoing  and of the  promises  and  mutual
agreements  set forth  below,  and other good and  valuable  consideration,  the
receipt and sufficiency of which are hereby acknowledged,  the parties hereto do
hereby agree to amend and restate the Original Agreement as follows:

         1.  Employment.  The  Company  agrees to employ the  Employee,  and the
Employee agrees to accept employment and to serve the Company,  on the terms and
conditions set forth herein.

         2. Term of  Employment.  The employment of the Employee by the Company,
as provided  under Section 1 hereof,  commenced on October 2, 2006 and shall end
September 30, 2009 (the "Term of Employment") unless further extended in writing
with express  reference to this  Agreement or sooner  terminated as  hereinafter
provided.  Commencing  on  September  30, 2009,  and on each annual  anniversary
thereafter,  the Term of  Employment  shall  automatically  be  extended  for an
additional year unless 90 days prior to the anniversary the Company gives notice
to the Employee  that the Term of  Employment  will not be  extended.  Except as
otherwise provided expressly herein, the provisions of this Agreement related to
Employee's  employment  will not apply after the Term of Employment  has expired
and any continuing employment of the Employee thereafter will be at-will and not
subject to the terms and conditions of this Agreement.


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         3. Position and Duties.  The Employee shall serve on a full-time  basis
as President of the Company and shall have the authority and be responsible  for
the  general  management  of  the  Company  and  shall  assume  such  additional
responsibilities  and  authority  as may from time to time be assigned to him by
its Board of  Directors  or the Chief  Executive  Officer  of the  Company.  The
Employee shall perform his  responsibilities and duties in the best interests of
the Company.


         4. Place of Performance.  In connection with the Employee's  employment
hereunder,  the Employee shall be based  initially at Community  Resource Bank's
corporate  headquarters  located  in  Orangeburg,  South  Carolina,  subject  to
reasonable  travel or  relocation  as necessary to carry out the business of the
Company and his duties hereunder.

         5.  Compensation  and  Benefits.  In  consideration  of the  Employee's
performance of his duties hereunder, the Company shall provide the Employee with
the following compensation and benefits during the Term of Employment hereunder.

                  a. Base Salary. The Company shall pay Employee at a minimum, a
         per annum base salary of $181,125.  During the Term of Employment under
         this Agreement, the Chief Executive Officer of the Company periodically
         will review and may increase  (but not decrease)  the  Employee's  base
         salary rate, all in accordance with the Company's salary administration
         policies and procedures in effect from time to time, and each change in
         the base salary amount listed in this Section shall become the new base
         salary amount.  Base salary shall be payable twice per month in arrears
         with a payroll  schedule as is used by the Company for other employees.
         The Company shall have no obligation  to increase the  Employee's  base
         salary rate at any particular time or in any particular amount, and any
         such increase shall be in the sole and absolute discretion of the Chief
         Executive Officer of the Company.

                  b.  Incentive  Compensation.  The  Company  shall  pay  to the
         Employee with respect to each subsequent fiscal year during the Term of
         Employment  hereunder,  such cash bonus, if any, as shall be determined
         pursuant  to a bonus  plan  adopted  by the Board of  Directors  of the
         Company for key  employees.  Any such bonuses shall be paid on the 15th
         day of the third month  following the end of the calendar year in which
         such bonus is earned. In addition,  and without diminution of any other
         compensation or benefit  provided for in this  Agreement,  the Employee
         may  be  given  the  opportunity  to  participate  in  other  incentive
         compensation   plans  that  may  be  adopted  by  the  Company,   which
         participation  opportunity  may be offered to the  Employee in the sole
         discretion of the Board of Directors of the Company.


                  c.  Country  Club and Civic Club Dues.  The Company  shall pay
         reasonable dues on behalf of the Employee for one country club approved
         by the Board of the  Company  and shall pay  reasonable  dues for civic
         organizations  to which the  Employee  belongs  for the  benefit of the
         Company and which have been approved by the Board of the Company.


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                  d. Deferred  Compensation.  The Employee  shall be entitled to
         participate in the Company's  401(k) Plan and the Company shall match a
         minimum of 100% of the first 3%, and 50% of the next 2%, of salary that
         the Employee defers each year.

                  e. Health and Dental  Insurance.  The Company will provide the
         Employee with health and dental insurance coverage on the same basis as
         such coverage is provided for other executive officers of the Company.

                  f. Expenses.  The Company shall reimburse the Employee for all
         proper and reasonable  out-of-pocket  expenses incurred by the Employee
         in his performance of services  hereunder,  including all such expenses
         of travel and living  expense  while away from home on  business of the
         Company and mileage for  out-of-town  business  use of his  automobile,
         provided   that  such  expenses  are  incurred  and  accounted  for  in
         accordance with the regular policies and procedures  established by the
         Company from time to time.

                  g. Paid Time Off. The Employee  shall be entitled to a minimum
         of 35 days of paid time off in each  calendar  year,  as well as to all
         paid holidays  provided by the Company to its  employees.  The Employee
         will not be entitled to any additional pay for unused vacation.

                  h. Other Benefits.  The Employee shall be entitled to share in
         any other employee  benefits  generally  provided by the Company to its
         most highly ranking executives for so long as the Company provides such
         benefits.  The Employee  shall also be entitled to  participate  in all
         other benefits accorded generally to Company employees.

         6. Compensation and Benefits in the Event of Termination.  In the event
of the  termination  of the  Employee's  employment  by  the  Company  or by the
Employee during the term of this Agreement,  compensation  and benefits shall be
paid as set forth below.

                  a. Definitions.  For purposes of this Agreement, the following
         terms shall have the meanings indicated:

                           (i) "Cause" shall mean:

                                    (A) the breach by Employee  of any  material
                           provision of this  Agreement,  provided  that Company
                           gives the Employee  written notice of such breach and
                           such  breach is not  cured  within  thirty  (30) days
                           thereafter;

                                    (B) the willful and continued failure by the
                           Employee to  substantially  perform his duties  under
                           this Agreement  (other than the Employee's  inability
                           to perform, with or without reasonable accommodation,
                           resulting  from his  incapacity  due to  physical  or
                           mental  illness  or  impairment),  after a demand for
                           substantial  performance  is  delivered to him by the
                           Company,  which demand  specifically  identifies  the
                           manner in which the  Employee  is alleged to have not
                           substantially performed his duties;

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                                    (C) the willful  engaging by the Employee in
                           misconduct (criminal,  immoral or otherwise) which is
                           materially injurious to the Company, its subsidiaries
                           or    their    respective    officers,     directors,
                           shareholders,  employees, or customers, monetarily or
                           otherwise;

                                    (D) the Employee's conviction of a felony;

                                    (E)  the  commission  in the  course  of the
                           Employee's   employment   of   an   act   of   fraud,
                           embezzlement,  theft  or  proven  dishonesty,  or any
                           other illegal act or practice, which would constitute
                           a  felony,  (whether  or not  resulting  in  criminal
                           prosecution or conviction),  or the commission of any
                           act or  practice  which  resulted  in the  Employee's
                           becoming  unbondable  under the  Company's  "banker's
                           blanket bond;" or

                                    (F)  the   suspension   or  removal  of  the
                           Employee, or the issuance of an order prohibiting the
                           Employee from  associating with the Company or any of
                           its   subsidiaries,   by  federal  or  state  banking
                           regulatory  authorities acting under lawful authority
                           pursuant  to  provisions  of  federal or state law or
                           regulation which may be in effect from time to time.

                           (ii) A "Change of Control"  of the  Company  shall be
                  deemed to have been effected for purposes of this Agreement on
                  the date:

                                    (A) any one person,  or more than one person
                           acting as a group, acquires ownership of stock of the
                           Company that, together with stock held by such person
                           or  group,  constitutes  more  than 50% of the  total
                           voting power of the Company's stock; or

                                    (B) any one person,  or more than one person
                           acting as a group,  acquires within a 12-month period
                           ownership of the Company's stock possessing more than
                           50% of the total voting power of the Company's stock;
                           or

                                    (C) the  Company is merged  with or into any
                           other entity and the persons who were shareholders of
                           the  Company  immediately  prior to the merger do not
                           continue to own stock having voting control over more
                           than 50% of the voting  securities  of the  surviving
                           entity immediately after the merger.

                           (iii) "Date of Termination" shall mean:

                                    (A)  if   the   Employee's   employment   is
                           terminated by reason of his death, his date of death;

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                                    (B)  if   the   Employee's   employment   is
                           terminated  for  Disability,  thirty  (30) days after
                           Notice of  Termination  is given  (provided  that the
                           Employee  shall not have returned to the  performance
                           of his duties as provided under sub-paragraph (iv) of
                           this paragraph 6.a); or

                                    (C)  if   the   Employee's   employment   is
                           terminated  for Good Reason,  the 31st day  following
                           the date of  Employee's  notice to the Company of the
                           existence of a condition constituting Good Reason, if
                           the Company shall have failed to remedy the condition
                           by the end of the  30th  day  following  the  date of
                           Employee's notice; or

                                    (D)  if   the   Employee's   employment   is
                           terminated  by action  of either  party for any other
                           reason,   the  date   specified   in  the  Notice  of
                           Termination; provided, however, that if within thirty
                           (30) days after any Notice of  Termination  is given,
                           the  party   receiving  such  Notice  of  Termination
                           notifies  the  other  party  that  a  dispute  exists
                           concerning the  termination,  the Date of Termination
                           shall be the date on which  the  dispute  is  finally
                           resolved,  either by mutual written  agreement of the
                           parties, or by a final arbitration award or judgment,
                           order or decree of a court of competent  jurisdiction
                           (the time for appeal  therefrom having expired and no
                           appeal having been perfected).

                           (iv) "Disability" or "Disabled" shall mean:

                                    (A) the  Employee is unable to engage in any
                           substantial   gainful   activity  by  reason  of  any
                           medically  determinable physical or mental impairment
                           that can be  expected  to  result  in death or can be
                           expected to last for a continuous  period of not less
                           than 12 months; or

                                    (B)  the  Employee  is,  by  reason  of  any
                           medically  determinable physical or mental impairment
                           that can be  expected  to  result  in death or can be
                           expected to last for a continuous  period of not less
                           than 12 months, receiving income replacement benefits
                           for a period of not less than three  months  under an
                           accident  and health plan  covering  employees of the
                           Company; or

                                    (C) the Employee has been  determined  to be
                           totally    disabled    by   the    Social    Security
                           Administration or Railroad Retirement Board; or

                                    (D) the Employee has been  determined  to be
                           disabled in  accordance  with a disability  insurance
                           program provided by the Company and in which Employee
                           participates,   provided   that  the   definition  of
                           disability  applied under such  disability  insurance
                           program  complies with the requirements of (A) or (B)
                           of this subparagraph (iv) listed above.

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                           (v) "Good Reason" for termination of employment shall
                  mean, without Employee's consent:

                                    (A)  Failure by the  Company to comply  with
                           any material provision of this Agreement; or

                                    (B) A material  diminution of the Employee's
                           authority and duties hereunder; or

                                    (C) A material  diminution in the Employee's
                           base compensation;

                           provided, however, the Employee must give the Company
                           notice  of  the  existence  of  one  or  more  of the
                           conditions set forth in this subsection 6.a(v) within
                           90 days after the initial existence of the condition,
                           and the  Company  shall  have 30 days to  remedy  the
                           condition.

                           Any  termination  of  employment by Employee for Good
                           Reason shall constitute an involuntary termination of
                           employment.

                           (vi)  "Notice  of  Termination"  shall mean a written
                  notice which shall include the specific termination  provision
                  under  this  Agreement  relied  upon,  and  shall set forth in
                  reasonable  detail  the facts  and  circumstances  claimed  to
                  provide a basis for termination of the Employee's  employment.
                  Any  purported   termination  of  the