CresCom Bank plans to open an 11th branch in Pawleys Island.

The financial institution has acquired property at 13021 Ocean Highway on U.S. 17 in the Litchfield community, CresCom announced Thursday. The construction schedule was not announced.

“This new property – combined with our stable growth and No. 1 community bank in the markets we serve – represent an opportunity for future growth within the South Carolina market,” said CresCom Bank Chief Executive Officer David L. Morrow. “We look forward to the opportunity to introduce the ‘Have a nice bank’ brand to another community in South Carolina.”

CresCom Bank has four branch locations in the Myrtle Beach area and six locations in the Charleston market.

CresCom originated from the consolidation of Crescent Bank of Myrtle Beach and Community FirstBank of Charleston.