Wilmingtonbiz logo
Print
Banking & Finance

New Name Announced For First Federal

By Jenny Callison, posted Feb 17, 2014
First Federal Bank will soon be South State Bank.

At a gala ceremony Monday in Columbia, S.C.’s Colonial Life Arena, First Financial Holdings Inc. unveiled the new name for its five banking units, one of which is First Federal Bank, which operates seven locations in the Wilmington market.

First Financial Holdings, First Federal’s parent, and Columbia, S.C.-based SCBT Financial Corp. announced merger intentions in February 2013 and completed the transaction in late July.

The new parent company for both entities was named First Financial Holdings at the time of the merger, but officials decided to proceed slowly with choosing a name to unite all five divisions.

“We’re going to take our time and do it right,” First Financial Holdings CEO and president Wayne Hall said of the merging process shortly after the merger was completed. “We want to minimize the impact for our employees and our customers.”

Speaking at Monday's announcement, South State Bank CEO Robert R. Hill Jr. said, "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. 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, the release stated. First Federal will undergo a system conversion and name change on July 21.

Prior to the merger, SCBT Financial Corp. was the parent of SCBT, NCBT, Community Bank & Trust and The Savannah Bank. And before the merger, SCBT had three North Carolina locations, all in the Charlotte area.

First Federal ranks eighth in the Wilmington market in terms of in-market deposits, which total about $223 million.

The news release also stated that the holding company name will be changed to South State Corp. if shareholders approve the name change at the company's annual shareholder meeting in April.

First Financial Holdings operates 138 locations in North and South Carolina and in Georgia. Its assets are about $8 billion.

Join The Discussion

Similar Stories

In The Current Issue

New ER Part Of ‘Strategic Plan’ For NHRMC

By the year 2024, New Hanover Regional Hospital expects to see 100,000 patients a year pass through its emergency room doors. That’s a significant increase over the 87,000 patients seen annually in the emergency department at the 17th Street hospital and the driving force behind the recently announced expansion of the emergency room.

NHC Offers Medication Drop Box Option

New Hanover County is now offering two new permanent drop boxes that give residents safe new options to dispose of expired, unwanted medicat...

Dosher Holds Open House, Gives Construction Update

The first phase of Dosher Memorial Hospital’s patient care unit renovation is complete. To mark the accomplishment, the Southport facility r...

Ico topnews Editor's Picks

N.C. State Industrial Extension Service Opens New Hanover Office

Cece Nunn - About 22 hours ago

CFCC Board May Consider Compensation For Spring At Thursday Meeting

Jenny Callison - About 22 hours ago

New Plan Calls For Retail Space In Oleander-Greenville Loop Project

Cece Nunn - Jan 28, 2015 Trending News

CIE Launches High Tide Breakfast Series

Jenny Callison - Jan 28, 2015
Decorations

All Star Flags

All Star Flags is a family owned business with experience in the flag industry dating back more than 30 years.

Ico trending Trending News

Ico newsinimages News in Pictures

Have a tip, pitch or guest column?  Send us a tip.

Gallery Galleries

Video Videos

Power Breakfast Series - Special Sauce for Economic Development - March. 2014
WilmingtonBiz Expo Keynote - Ken Lowe - Founder HGTV, CEO Scripps Networks - March. 2014

Register to Continue Seeing Wilmington's Best Business Coverage!


There are three ways to register for free.

Sign in with LinkedIn, Facebook or create an account:



Already registered? Login here.

Your free registration includes:

  • Access to 10 articles per month on WilmingtonBiz.com
  • Email updates to stay informed on local business news
  • A mobile optimized website
  • Advanced notification of Business Journal events
  • Management of your digital and print subscriptions
Laptop iphone ipad