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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>SECURITIES AND EXCHANGE COMMISSION </B>
<BR>WASHINGTON, DC 20549 </FONT></P>

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     <P ALIGN=CENTER>_________________ </P>
<BR>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>FORM S-8 </B><BR>REGISTRATION STATEMENT
<BR>UNDER THE SECURITIES ACT OF 1933 </FONT></P>

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     <P ALIGN=CENTER>_________________ </P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=4><U><B>TIDELANDS BANCSHARES, INC.</B></U></FONT><BR><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Exact name of
registrant as specified in its charter) </FONT></P>

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          <TD WIDTH=35% align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Carolina&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD>
          <TD WIDTH=30% align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
          <TD WIDTH=35% align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;02-0570232&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
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          <TD WIDTH=35% align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(State of other jurisdiction of</FONT></TD>
          <TD WIDTH=30% align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
          <TD WIDTH=35% align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2> (I.R.S. Employer </FONT></TD>
          </TR>

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          <TD WIDTH=35% align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>incorporation or organization)</FONT></TD>
          <TD WIDTH=30% align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
          <TD WIDTH=35% align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Identification Number)</FONT></TD>
          </TR>
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          <BR>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>875 Lowcountry Blvd.<BR>Mount Pleasant, South Carolina 29464<BR>
(Address of Principal Executive Offices)</FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Tidelands Bancshares, Inc. 2004 Stock Incentive Plan
<BR>(Full title of the Plan) </FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Robert E. Coffee, Jr.<BR>President and Chief Executive Officer<BR>875 Lowcountry Blvd.
<BR>Mount Pleasant, South Carolina 29464<BR>(843) 388-8433<BR>(Name, address, and telephone number of agent for service)</FONT></P>


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     <P ALIGN=CENTER>_________________________________ </P>



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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Copies Requested to:<BR><BR>Neil E. Grayson, Esq.Nelson
<BR>Mullins Riley &amp; Scarborough LLP<BR>Poinsett Plaza, Suite 900<BR>104 South Main Street<BR>
Greenville, South Carolina 29601<BR>Telephone:&nbsp;&nbsp;(864) 250-2300<BR>Fax:&nbsp;&nbsp;(864) 232-2925 </FONT></P>

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     <P ALIGN=CENTER>_________________________________ </P>

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     <TH COLSPAN=3><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH></TR>
<TR>
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     <TD WIDTH=21% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;<B>Title of Securities</B></FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=11% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Amount to be</B></FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=4% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=16% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Proposed Maximum</B></FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=4% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=17% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Proposed Maximum</B></FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=4% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=16% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;<B>Amount of</B></FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;<B>to be Registered</B></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;<B>Registered</B></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;<B>Offering Price</B></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Aggregate Offering</B></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Registration Fee</B></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>per Share</B></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Price</B></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR>
     <TD COLSPAN=15 ALIGN=RIGHT><HR NOSHADE COLOR=#000000 SIZE=1></TD><TD></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Common Stock</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>206,680 (1)&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$  (2)&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$  (2)&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$  209.75&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR>
     <TD COLSPAN=15 ALIGN=RIGHT><HR NOSHADE COLOR=#000000 SIZE=1></TD><TD></TD></TR>
</TABLE>
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<P ALIGN=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(1)&nbsp;&nbsp;&nbsp;&nbsp;Represents  shares of common stock  issuable  under the Tidelands  Bancshares,  Inc. 2004 Stock  Incentive
Plan.<BR>(2)&nbsp;&nbsp;&nbsp;&nbsp;In accordance with Rule 457(h),  the registration  fee is based the book value of the common stock,  which
is equal to $8.01 per share <BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;as of the most recent practicable date.</FONT></P>

<P ALIGN=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>In addition, pursuant to Rule 416(c) under the Securities Act of 1933, this registration statement also covers an
indeterminate amount of interests to be offered or sold pursuant to the employee benefit plan described herein.</FONT></P>


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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PART II </FONT></H1>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>INFORMATION REQUIRED IN
THE REGISTRATION STATEMENT </FONT></H1>

<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 3.&nbsp;&nbsp;&nbsp;Incorporation of Documents by Reference.</FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following documents filed by us with the SEC are incorporated by reference into this
registration statement, and all documents subsequently filed by us pursuant to Sections
13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934 shall be incorporated by
reference in this registration statement and shall be a part of this registration
statement from the date of filing of the documents: </FONT></P>

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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
               <TD WIDTH=91%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               our Annual Report on Form 10-KSB for the year ended December 31, 2003; </FONT></TD>
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               <BR>

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               <TD WIDTH=4%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
               <TD WIDTH=91%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               our Quarterly Reports on Form 10-QSB for the fiscal quarters ended March 31,
               2004, June 30, 2004, and September 30, 2004; and </FONT></TD>
               </TR>
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               <BR>

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               <TD WIDTH=4%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
               <TD WIDTH=91%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               our description of securities included in our registration statement on Form
               SB-2 filed on July 7, 2002. </FONT></TD>
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<H1><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 4.&nbsp;&nbsp;&nbsp;Description of
Securities. </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
response required to this item. </FONT></P>

<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 5.&nbsp;&nbsp;&nbsp;Interests of Named Experts and Counsel.</FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No response
required to this item. </FONT></P>

<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 6.&nbsp;&nbsp;&nbsp;Indemnification of Directors and Officers.</FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tidelands
Bancshares&#146; articles of incorporation contain a provision which, subject to limited
exceptions, limits the liability of a director for any breach of duty as a director. There
is no limitation of liability for: </FONT></P>

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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>o </FONT></TD>
               <TD WIDTH=91%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
a breach of duty involving appropriation of a business opportunity;</FONT></TD>
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               <TD WIDTH=4%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>o </FONT></TD>
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an act or omission which involves intentional
misconduct or a knowing violation of law; </FONT></TD>
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               <TD WIDTH=4%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>o </FONT></TD>
               <TD WIDTH=91%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
any transaction from which the director
derives an improper personal benefit; or </FONT></TD>
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               <TD WIDTH=4%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>o </FONT></TD>
               <TD WIDTH=91%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
as to any payments of a dividend or any other type of distribution that is illegal under Section
33-8-330 of the South Carolina Business Corporation Act of 1988.</FONT></TD>
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, if this statute is amended to authorize further elimination or limitation of the
liability of director, then the liability of each director shall be eliminated or limited
to the fullest extent permitted by such provisions, as so amended, without further action
by the shareholders, unless the law requires such action. The provision does not limit the
right of the company or its shareholders to seek injunctive or other equitable relief not
involving payments in the nature of monetary damages. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tidelands
Bancshares&#146; bylaws contain provisions which provide indemnification to directors that
is broader than the protection expressly mandated in Sections 33-8-510 and 33-8-520 of the
South Carolina Business Corporation Act. To the extent that a director or officer has been
successful, on the merits or otherwise, in the defense of any action or proceeding brought
by reason of the fact that such person was a director or officer, Sections 33-8-510 and
33-8-520 would require Tidelands Bancshares to indemnify these persons against expenses,
including attorney&#146;s fees, actually and reasonably incurred in connection with the
matter. The South Carolina Business Corporation Act expressly allows Tidelands Bancshares
to provide for greater indemnification rights to its officers and directors, subject to
shareholder approval. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
board of directors also has the authority to extend to officers, employees, and agents the
same indemnification rights held by directors, subject to all of the accompanying
conditions and obligations. The board of directors intends to extend indemnification
rights to all of its executive officers. </FONT></P>

<BR>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2</FONT></P>
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers and controlling persons of Tidelands Bancshares pursuant
to the foregoing provisions, or otherwise, Tidelands Bancshares has been informed that in
the opinion of the Securities and Exchange Commission such indemnification is against
public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. </FONT></P>

<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 7.&nbsp;&nbsp;&nbsp;Exemption from Registration Claimed.</FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
response is required to this item. </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 8.&nbsp;&nbsp;&nbsp;Exhibits. </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following exhibits are filed with this registration statement. </FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibit
<BR><U>Number</U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Description of Exhibit</U> </FONT></P>

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          <TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.1 </FONT></TD>
          <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Articles of Incorporation (1)</FONT></TD>
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          <BR>

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          <TD WIDTH=1%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
          <TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.2 </FONT></TD>
          <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Bylaws (1)</FONT></TD>
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          <BR>

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          <TD WIDTH=1%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
          <TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.3 </FONT></TD>
          <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Form of Certificate of Common Stock (1)</FONT></TD>
          </TR>
          </TABLE>
          <BR>

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          <TD WIDTH=1%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
          <TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.4 </FONT></TD>
          <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
2004 Tidelands Bancshares, Inc. Stock Incentive Plan (2)</FONT></TD>
          </TR>
          </TABLE>
          <BR>

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          <TD WIDTH=1%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
          <TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>5.1 </FONT></TD>
          <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Legal Opinion of Nelson Mullins Riley &amp; Scarborough LLP</FONT></TD>
          </TR>
          </TABLE>
          <BR>

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          <TD WIDTH=1%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
          <TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>23.1</FONT></TD>
          <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Consent of Elliott Davis, LLC</FONT></TD>
          </TR>
          </TABLE>
          <BR>

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          <TD WIDTH=1%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
          <TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>23.2</FONT></TD>
          <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Consent of Nelson  Mullins  Riley &amp;  Scarborough  LLP  (contained  in their  opinion filed as
                    Exhibit 5.1)</FONT></TD>
          </TR>
          </TABLE>
          <BR>

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          <TD WIDTH=1%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
          <TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>24 </FONT></TD>
          <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Power of Attorney (contained on the signature pages of this registration statement) </FONT></TD>
          </TR>
          </TABLE>
          <BR>


<P ALIGN=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incorporated by reference to the Company&#146;s Registration Statement on Form SB-2 filed
on July 24, 2002. <BR>(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incorporated by reference to the Company&#146;s Form 10-KSB for the
year ended December 31, 2003. </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 9.&nbsp;&nbsp;&nbsp;Undertakings. </FONT></H1>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company hereby undertakes:</FONT></P>

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          <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(1) </FONT></TD>
          <TD WIDTH=91%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          To file, during any period in which offers or sales are being made, a
          post-effective amendment to this registration statement: </FONT></TD>
          </TR>
          </TABLE>
          <BR>

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               <TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(i) </FONT></TD>
               <TD WIDTH=86%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          To include any prospectus required by Section 10(a)(3) of the Securities Act; </FONT></TD>
          </TR>
          </TABLE>
          <BR>

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               <TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(ii) </FONT></TD>
               <TD WIDTH=86%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               To reflect in the prospectus any facts or events which, individually or
               together, represent a fundamental change in the information in the registration
               statement. Notwithstanding the foregoing, any increase or decrease in volume of
               securities offered (if the total dollar value of securities offered would not
               exceed that which was registered) and any deviation from the low or high end of
               the estimated maximum offering range may be reflected in the form of prospectus
               filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the
               changes in volume and price represent no more than a 20 percent change in the
               maximum aggregate offering price set forth in the &#147;Calculation of
               Registration Fee&#148; table in the effective registration statement; </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(iii) </FONT></TD>
               <TD WIDTH=86%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               To include any additional or changed material information on the plan of
               distribution; </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=86%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>provided</U>, <U>however</U>, that the undertakings set forth in paragraph (i) and (ii) above do not
apply if the information</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE>
<BR>

<BR>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3</FONT></P>
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<TR VALIGN=TOP>
<TD WIDTH=9%>&nbsp;</TD>
<TD WIDTH=86%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
required
to be included in a post-effective amendment by those paragraphs is contained in periodic
reports filed with or furnished to the Commission pursuant to Section 13 or 15(d) of the
Exchange Act of 1934 that are incorporated by reference in this registration statement;</FONT></TD>
</TR>
</TABLE>
<BR>

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          <TD WIDTH=4%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
          <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(2) </FONT></TD>
          <TD WIDTH=91%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          That, for the purpose of determining any liability under the Securities Act,
          each such post-effective amendment shall be deemed to be a new registration
          statement relating to the securities offered therein, and the offering of such
          securities at that time shall be deemed to be the initial bona fide offering
          thereof; </FONT></TD>
          </TR>
          </TABLE>
          <BR>

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          <TD WIDTH=4%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
          <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(3) </FONT></TD>
          <TD WIDTH=91%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          To remove from registration by means of a post-effective amendment any of the
          securities being registered which remain unsold at the termination of the
          offering. </FONT></TD>
          </TR>
          </TABLE>
          <BR>

<BR><BR><BR><BR><BR><BR><BR><BR><BR>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4</FONT></P>
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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SIGNATURES </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Act of 1933, the registrant certifies that it has
reasonable grounds to believe that it meets all of the requirements for filing on Form S-8
and has duly caused this registration statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the city of Mount Pleasant, State of South
Carolina, on this 29th day of December, 2004. </FONT></P>

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<TR VALIGN=TOP>
<TD WIDTH=40%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>TIDELANDS BANCSHARES, INC.</font></TD></TR>
<TR VALIGN=TOP>
<TD WIDTH=40%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></font></TD></TR>
<TR VALIGN=TOP>
<TD WIDTH=40%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>By:<U>&nbsp;&nbsp;/s/ &nbsp;Robert E. Coffee, Jr.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></font></TD></TR>
<TR VALIGN=TOP>
<TD WIDTH=40%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>President and Chief Executive Officer</font></TD></TR>
</TABLE>
<BR>


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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>POWER OF ATTORNEY </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KNOW
ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes
and appoints Robert E. Coffee, Jr. and Alan W. Jackson, or either of them, as such
person&#146;s true and lawful attorneys-in-fact and agents, with full power of
substitution and resubstitution, for such person and in such person&#146;s name, place and
stead, in any and all capacities, to sign any and all amendments (including post-effective
amendments) to this Registration Statement and any Registration Statement filed pursuant
to Rule 462(b) under the Securities Act of 1933, as amended, and to file the same, with
all exhibits thereto, and other documents in connection therewith, with the Securities and
Exchange Commission and any other regulatory authority, granting unto said
attorneys-in-fact and agents, and each of them, full power and authority to do and perform
each and every act and thing requisite and necessary to be done in connection therewith,
as fully to all intents and purposes as such person might or could do in person, hereby
ratifying and confirming all that said attorneys-in-fact and agents, or either of them, or
their or his substitute or substitutes, may lawfully do or cause to be done by virtue
hereof. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Act of 1933, this Registration Statement has been
signed below by the following persons in the capacities and on the dates indicated: </FONT></P>

<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=40% align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Signature</U></FONT></TD>
<TD WIDTH=30% align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;<U>Title</U></FONT></TD>
<TD WIDTH=30%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Date</U></FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=40% align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>___________________<BR>
Mike  Burrell </FONT></TD>
<TD WIDTH=30% align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
<TD WIDTH=30%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR><BR></FONT></TD>
</TR>
</TABLE>
<BR>


<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=40% align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>___________________<BR>
John N. Cagle, III, DMD  </FONT></TD>
<TD WIDTH=30% align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
<TD WIDTH=30%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR><BR></FONT></TD>
</TR>
</TABLE>
<BR>


<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=40% align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>/s/ Alan D. Clemmons  </U><BR>
Alan D. Clemmons  </FONT></TD>
<TD WIDTH=30% align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
<TD WIDTH=30%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>December 29, 2004<BR><BR></FONT></TD>
</TR>
</TABLE>
<BR>


<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=40% align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>/s/ Robert E. Coffee, Jr. </U><BR>
Robert E. Coffee, Jr. </FONT></TD>
<TD WIDTH=30% align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>President, <BR>Chief Executive Officer, Director</FONT></TD>
<TD WIDTH=30%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>December 29, 2004<BR><BR></FONT></TD>
</TR>
</TABLE>
<BR>



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<TR VALIGN=TOP>
<TD WIDTH=40% align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>___________________<BR>
Richard L. Granger</FONT></TD>
<TD WIDTH=30% align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
<TD WIDTH=30%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR><BR></FONT></TD>
</TR>
</TABLE>
<BR>



<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=40% align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>/s/Dwayne Green </U><BR>
Dwayne Green </FONT></TD>
<TD WIDTH=30% align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
<TD WIDTH=30%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>December 29, 2004<BR><BR></FONT></TD>
</TR>
</TABLE>
<BR>



<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=40% align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>/s/ Barry I. Kalinsky  </U><BR>
Barry I. Kalinsky  </FONT></TD>
<TD WIDTH=30% align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Director, Chairman</FONT></TD>
<TD WIDTH=30%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>December 29, 2004<BR><BR></FONT></TD>
</TR>
</TABLE>
<BR>

<BR>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>5</FONT></P>
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<BR><BR>

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<TR VALIGN=TOP>
<TD WIDTH=40% align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Signature</U></FONT></TD>
<TD WIDTH=30% align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;<U>Title</U></FONT></TD>
<TD WIDTH=30%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Date</U></FONT></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=40% align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>/s/ Morris Kalinsky </U><BR>
Morris Kalinsky </FONT></TD>
<TD WIDTH=30% align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
<TD WIDTH=30%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>December 29, 2004<BR><BR></FONT></TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=40% align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>/s/ Paul J. Kerwin, DVM </U><BR>
Paul J. Kerwin, DVM </FONT></TD>
<TD WIDTH=30% align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
<TD WIDTH=30%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>December 29, 2004<BR><BR></FONT></TD>
</TR>
</TABLE>
<BR>



<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=40% align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>/s/ Alan W. Jackson </U><BR>
Alan W. Jackson </FONT></TD>
<TD WIDTH=30% align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Chief Financial Officer</FONT></TD>
<TD WIDTH=30%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>December 29, 2004<BR><BR></FONT></TD>
</TR>
</TABLE>
<BR>


<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=40% align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>___________________<BR>
John T. Parker, Jr. </FONT></TD>
<TD WIDTH=30% align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
<TD WIDTH=30%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR><BR></FONT></TD>
</TR>
</TABLE>
<BR>



<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=40% align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>/s/ Fred H. Renken </U><BR>
Fred H. Renken </FONT></TD>
<TD WIDTH=30% align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director, Vice Chairman</FONT></TD>
<TD WIDTH=30%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>December 29, 2004<BR><BR></FONT></TD>
</TR>
</TABLE>
<BR>


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<TR VALIGN=TOP>
<TD WIDTH=40% align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>___________________<BR>
Tanya Robinson </FONT></TD>
<TD WIDTH=30% align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
<TD WIDTH=30%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR><BR></FONT></TD>
</TR>
</TABLE>
<BR>

<BR>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>6</FONT></P>
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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibit Index </FONT></H1>

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          <TR VALIGN=TOP>
          <TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
          <TD WIDTH=7%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.1 </FONT></TD>
          <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Articles of Incorporation (1)</FONT></TD>
          </TR>
          </TABLE>
          <BR>

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          <TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
          <TD WIDTH=7%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.2 </FONT></TD>
          <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Bylaws (1)</FONT></TD>
          </TR>
          </TABLE>
          <BR>

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          <TR VALIGN=TOP>
          <TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
          <TD WIDTH=7%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.3 </FONT></TD>
          <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Form of Certificate of Common Stock (1)</FONT></TD>
          </TR>
          </TABLE>
          <BR>

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          <TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
          <TD WIDTH=7%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.4 </FONT></TD>
          <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
2004 Tidelands Bancshares, Inc. Stock Incentive Plan (2)</FONT></TD>
          </TR>
          </TABLE>
          <BR>

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          <TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
          <TD WIDTH=7%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>5.1 </FONT></TD>
          <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Legal Opinion of Nelson Mullins Riley &amp; Scarborough LLP</FONT></TD>
          </TR>
          </TABLE>
          <BR>

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          <TD WIDTH=7%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>23.1</FONT></TD>
          <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Consent of Elliott Davis, LLC</FONT></TD>
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          <BR>

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          <TD WIDTH=7%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>23.2</FONT></TD>
          <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Consent of Nelson  Mullins  Riley &amp; Scarborough  LLP  (contained  in their  opinion filed as
                    Exhibit 5.1)</FONT></TD>
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          <TD WIDTH=7%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>24 </FONT></TD>
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Power of Attorney (contained on the signature pages of this registration statement) </FONT></TD>
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<P ALIGN=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incorporated by reference to the Company&#146;s Registration Statement on Form SB-2 filed
on July 24, 2002. <BR>(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incorporated by reference to the Company&#146;s Form 10-KSB for the
year ended December 31, 2003. </FONT></P>

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[{"type": "S-8", "sequence": "1", "filename": "forms-8_122804.htm", "description": "122804", "secsgml_size_bytes": 49249}]
{"company-data": {"conformed-name": "TIDELANDS BANCSHARES INC", "cik": "0001178409", "assigned-sic": "6021", "irs-number": "000000000"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-121716", "film-number": "041231112"}, "business-address": {"street1": "875 LOWCOUNTRY BLVD.", "city": "MT. PLEASANT", "state": "SC", "zip": "29464"}}
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
_________________
FORM S-8
REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OF 1933
_________________
TIDELANDS BANCSHARES, INC.
(Exact name of
registrant as specified in its charter)
South Carolina
02-0570232
(State of other jurisdiction of
(I.R.S. Employer
incorporation or organization)
Identification Number)
875 Lowcountry Blvd.
Mount Pleasant, South Carolina 29464
(Address of Principal Executive Offices)
Tidelands Bancshares, Inc. 2004 Stock Incentive Plan
(Full title of the Plan)
Robert E. Coffee, Jr.
President and Chief Executive Officer
875 Lowcountry Blvd.
Mount Pleasant, South Carolina 29464
(843) 388-8433
(Name, address, and telephone number of agent for service)
_________________________________
Copies Requested to:
Neil E. Grayson, Esq.Nelson
Mullins Riley & Scarborough LLP
Poinsett Plaza, Suite 900
104 South Main Street
Greenville, South Carolina 29601
Telephone:  (864) 250-2300
Fax:  (864) 232-2925
_________________________________
Title of Securities
Amount to be
Proposed Maximum
Proposed Maximum
Amount of
to be Registered
Registered
Offering Price
Aggregate Offering
Registration Fee
per Share
Price
Common Stock
206,680 (1)
$  (2)
$  (2)
$  209.75
(1)    Represents  shares of common stock  issuable  under the Tidelands  Bancshares,  Inc. 2004 Stock  Incentive
Plan.
(2)    In accordance with Rule 457(h),  the registration  fee is based the book value of the common stock,  which
is equal to $8.01 per share
as of the most recent practicable date.
In addition, pursuant to Rule 416(c) under the Securities Act of 1933, this registration statement also covers an
indeterminate amount of interests to be offered or sold pursuant to the employee benefit plan described herein.
PART II
INFORMATION REQUIRED IN
THE REGISTRATION STATEMENT
Item 3.   Incorporation of Documents by Reference.
The
following documents filed by us with the SEC are incorporated by reference into this
registration statement, and all documents subsequently filed by us pursuant to Sections
13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934 shall be incorporated by
reference in this registration statement and shall be a part of this registration
statement from the date of filing of the documents:
(a)
our Annual Report on Form 10-KSB for the year ended December 31, 2003;
(b)
our Quarterly Reports on Form 10-QSB for the fiscal quarters ended March 31,
               2004, June 30, 2004, and September 30, 2004; and
(c)
our description of securities included in our registration statement on Form
               SB-2 filed on July 7, 2002.
Item 4.   Description of
Securities.
No
response required to this item.
Item 5.   Interests of Named Experts and Counsel.
No response
required to this item.
Item 6.   Indemnification of Directors and Officers.
Tidelands
Bancshares' articles of incorporation contain a provision which, subject to limited
exceptions, limits the liability of a director for any breach of duty as a director. There
is no limitation of liability for:
o
a breach of duty involving appropriation of a business opportunity;
o
an act or omission which involves intentional
misconduct or a knowing violation of law;
o
any transaction from which the director
derives an improper personal benefit; or
o
as to any payments of a dividend or any other type of distribution that is illegal under Section
33-8-330 of the South Carolina Business Corporation Act of 1988.
In
addition, if this statute is amended to authorize further elimination or limitation of the
liability of director, then the liability of each director shall be eliminated or limited
to the fullest extent permitted by such provisions, as so amended, without further action
by the shareholders, unless the law requires such action. The provision does not limit the
right of the company or its shareholders to seek injunctive or other equitable relief not
involving payments in the nature of monetary damages.
Tidelands
Bancshares' bylaws contain provisions which provide indemnification to directors that
is broader than the protection expressly mandated in Sections 33-8-510 and 33-8-520 of the
South Carolina Business Corporation Act. To the extent that a director or officer has been
successful, on the merits or otherwise, in the defense of any action or proceeding brought
by reason of the fact that such person was a director or officer, Sections 33-8-510 and
33-8-520 would require Tidelands Bancshares to indemnify these persons against expenses,
including attorney's fees, actually and reasonably incurred in connection with the
matter. The South Carolina Business Corporation Act expressly allows Tidelands Bancshares
to provide for greater indemnification rights to its officers and directors, subject to
shareholder approval.
Our
board of directors also has the authority to extend to officers, employees, and agents the
same indemnification rights held by directors, subject to all of the accompanying
conditions and obligations. The board of directors intends to extend indemnification
rights to all of its executive officers.
2
Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers and controlling persons of Tidelands Bancshares pursuant
to the foregoing provisions, or otherwise, Tidelands Bancshares has been informed that in
the opinion of the Securities and Exchange Commission such indemnification is against
public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable.
Item 7.   Exemption from Registration Claimed.
No
response is required to this item.
Item 8.   Exhibits.
The
following exhibits are filed with this registration statement.
Exhibit
Number
Description of Exhibit
4.1
Articles of Incorporation (1)
4.2
Bylaws (1)
4.3
Form of Certificate of Common Stock (1)
4.4
2004 Tidelands Bancshares, Inc. Stock Incentive Plan (2)
5.1
Legal Opinion of Nelson Mullins Riley & Scarborough LLP
23.1
Consent of Elliott Davis, LLC
23.2
Consent of Nelson  Mullins  Riley &  Scarborough  LLP  (contained  in their  opinion filed as
                    Exhibit 5.1)
24
Power of Attorney (contained on the signature pages of this registration statement)
(1)     Incorporated by reference to the Company's Registration Statement on Form SB-2 filed
on July 24, 2002.
(2)     Incorporated by reference to the Company's Form 10-KSB for the
year ended December 31, 2003.
Item 9.   Undertakings.
The
Company hereby undertakes:
(1)
To file, during any period in which offers or sales are being made, a
          post-effective amendment to this registration statement:
(i)
To include any prospectus required by Section 10(a)(3) of the Securities Act;
(ii)
To reflect in the prospectus any facts or events which, individually or
               together, represent a fundamental change in the information in the registration
               statement. Notwithstanding the foregoing, any increase or decrease in volume of
               securities offered (if the total dollar value of securities offered would not
               exceed that which was registered) and any deviation from the low or high end of
               the estimated maximum offering range may be reflected in the form of prospectus
               filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the
               changes in volume and price represent no more than a 20 percent change in the
               maximum aggregate offering price set forth in the "Calculation of
               Registration Fee" table in the effective registration statement;
(iii)
To include any additional or changed material information on the plan of
               distribution;
provided
,
however
, that the undertakings set forth in paragraph (i) and (ii) above do not
apply if the information
3
required
to be included in a post-effective amendment by those paragraphs is contained in periodic
reports filed with or furnished to the Commission pursuant to Section 13 or 15(d) of the
Exchange Act of 1934 that are incorporated by reference in this registration statement;
(2)
That, for the purpose of determining any liability under the Securities Act,
          each such post-effective amendment shall be deemed to be a new registration
          statement relating to the securities offered therein, and the offering of such
          securities at that time shall be deemed to be the initial bona fide offering
          thereof;
(3)
To remove from registration by means of a post-effective amendment any of the
          securities being registered which remain unsold at the termination of the
          offering.
4
SIGNATURES
Pursuant
to the requirements of the Securities Act of 1933, the registrant certifies that it has
reasonable grounds to believe that it meets all of the requirements for filing on Form S-8
and has duly caused this registration statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the city of Mount Pleasant, State of South
Carolina, on this 29th day of December, 2004.
TIDELANDS BANCSHARES, INC.
By:
/s/  Robert E. Coffee, Jr.
President and Chief Executive Officer
POWER OF ATTORNEY
KNOW
ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes
and appoints Robert E. Coffee, Jr. and Alan W. Jackson, or either of them, as such
person's true and lawful attorneys-in-fact and agents, with full power of
substitution and resubstitution, for such person and in such person's name, place and
stead, in any and all capacities, to sign any and all amendments (including post-effective
amendments) to this Registration Statement and any Registration Statement filed pursuant
to Rule 462(b) under the Securities Act of 1933, as amended, and to file the same, with
all exhibits thereto, and other documents in connection therewith, with the Securities and
Exchange Commission and any other regulatory authority, granting unto said
attorneys-in-fact and agents, and each of them, full power and authority to do and perform
each and every act and thing requisite and necessary to be done in connection therewith,
as fully to all intents and purposes as such person might or could do in person, hereby
ratifying and confirming all that said attorneys-in-fact and agents, or either of them, or
their or his substitute or substitutes, may lawfully do or cause to be done by virtue
hereof.
Pursuant
to the requirements of the Securities Act of 1933, this Registration Statement has been
signed below by the following persons in the capacities and on the dates indicated:
Signature
Title
Date
___________________
Mike  Burrell
Director
___________________
John N. Cagle, III, DMD
Director
/s/ Alan D. Clemmons
Alan D. Clemmons
Director
December 29, 2004
/s/ Robert E. Coffee, Jr.
Robert E. Coffee, Jr.
President,
Chief Executive Officer, Director
December 29, 2004
___________________
Richard L. Granger
Director
/s/Dwayne Green
Dwayne Green
Director
December 29, 2004
/s/ Barry I. Kalinsky
Barry I. Kalinsky
Director, Chairman
December 29, 2004
5
Signature
Title
Date
/s/ Morris Kalinsky
Morris Kalinsky
Director
December 29, 2004
/s/ Paul J. Kerwin, DVM
Paul J. Kerwin, DVM
Director
December 29, 2004
/s/ Alan W. Jackson
Alan W. Jackson
Chief Financial Officer
December 29, 2004
___________________
John T. Parker, Jr.
Director
/s/ Fred H. Renken
Fred H. Renken
Director, Vice Chairman
December 29, 2004
___________________
Tanya Robinson
Director
6
Exhibit Index
4.1
Articles of Incorporation (1)
4.2
Bylaws (1)
4.3
Form of Certificate of Common Stock (1)
4.4
2004 Tidelands Bancshares, Inc. Stock Incentive Plan (2)
5.1
Legal Opinion of Nelson Mullins Riley & Scarborough LLP
23.1
Consent of Elliott Davis, LLC
23.2
Consent of Nelson  Mullins  Riley & Scarborough  LLP  (contained  in their  opinion filed as
                    Exhibit 5.1)
24
Power of Attorney (contained on the signature pages of this registration statement)
(1)     Incorporated by reference to the Company's Registration Statement on Form SB-2 filed
on July 24, 2002.
(2)     Incorporated by reference to the Company's Form 10-KSB for the
year ended December 31, 2003.
7