I've seen several different themes of the emails. Some say that your account has been compromised and the bank is blocking it (click here to reconfirm). Some say there's a mistake and your account has been credited for $XX dollars...(click here to receive money). Some just said to visit the website and confirm login. They all look very convincing.
I talked to someone at the bank this morning and they are aware of it and trying to get it stopped. I also found out that they are calling people, out of the yellow pages perhaps? and leaving recorded messages with an 800 number to call. This is to get you to punch your passwords and things into the telephone, I would assume. I had gotten one of those calls Sunday, and assumed it was Conway Bank security calling me because I was sending them the emails.
The emails are coming from numerous addresses, but most of the ones I've seen were coming from places in Korea (the email address header reads like firstname.lastname@example.org ) It's likely the email addresses are fake anyway. The point to the scam is to get you to click the link in the email and type in your user name and password.
Paypal and Ebay and other large banks have suffered from these "phishing" schemes for years now. Seems odd that they would target a small South Carolina bank like Conway Bank.
At any case, it is so important that we all remember NEVER EVER to click on any link from an email and login to anything. Very few banks or accounts will ever send you an email that asks you to, but even if you think it's legit, it's better to go directly to the website and not take the chance. Sometimes the links will go to websites that have embedded viruses or worms as well.
Always be suspicious when dealing with an email from someone other than friends or family.
And sometimes you can be fooled there as well.