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

Book On Business

2015 bookonbusiness

The 2015 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!
Print Only
$19.95 - Qty
Print + Excel File
$79.95 - Qty

In The Current Issue

From Port To Line: ACME Plant Growing Faster Than Projected

Six months after opening, the ACME plant at Pender Commerce Park is poised to hit its five-year commitment of 120 jobs yet this year and may substantially exceed expectations for its long-term impact.

CastleBranch Teams Up With OOHLALA App

CastleBranch Corp., parent company of CertifiedBackground, announced this month that it has partnered with the college-focused app OOHLALA i...

Toast Together App Kicks Off

Toast Together, a new app launched by local resident and former NFL player Connor Barth and businessman Ryan Watts, seeks to make it easier ...

Ico topnews Editor's Picks

Arthritis Practice Moves To Leland

Cece Nunn - About 13 hours ago

Live Oak Confirms IPO Net, Underwriter Share Purchase

Jenny Callison - About 13 hours ago

Cucalorus Plans Startup Connection In 2015

Zachery Eanes - Jul 30, 2015

New Hanover County: High Bond Rating Means Low Interest Costs

Jenny Callison - Jul 30, 2015
Technology

Cloudwyze

CloudWyze was created to help businesses focus and perform at their optimal level. It is difficult to find and implement the right technology for your company. That’s where we can help. We have exp ...more

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