Tuesday, February 18, 2014
First Financial Holdings, Inc. (NASDAQ: SCBT) announced Feb. 17, 2014, its plan to join five brands under one unified name – South State Bank.
The holding company name will also be changed to South State Corporation, subject to obtaining shareholder approval for the name change at the 2014 annual shareholder meeting to be held in April.
The company operates today in S.C., N.C. and Ga. under the brands: First Federal, North Carolina Bank and Trust (NCBT), Community Bank & Trust (CBT), The Savannah Bank, and South Carolina Bank and Trust(SCBT). All of these bank divisions will operate as South State Bank when they transition to the new name this summer.
“This is a great next step for our company. Our new name reflects the strength and stability we’ve had for years and clearly positions us to continue building the best regional bank in the Southeast,” said Robert R. Hill, Jr., CEO. “We have combined a number of great banks into one strong, relationship-driven regional bank. While our name is changing, our approach to relationship banking and exceptional service-levels will remain the same. The new name will provide greater convenience and increased access for our customers.”
Once all bank divisions begin operating under one name and on one system later this summer, customers will be able to do their banking at any location throughout the three-state network.
With 138 branches currently, the combination of these bank brands will create a unified $7.9 billion bank that is the largest publicly traded bank headquartered in South Carolina and one of the largest headquartered in the Southeast.
Employees from each bank division gathered today for a celebration in Columbia, S.C. where they were first to learn about the new brand and the vision for a more integrated organization going forward.
Customers will receive communications throughout the rebranding process, as the bank prepares for the name change. On June 30, 2014, SCBT, CBT, NCBT and The Savannah Bank will change their names to South State Bank. First Federal will undergo a system conversion and name change on July 21, 2014.