Printer Friendly

CAROLINA FIRST CORPORATION ANNOUNCES PURCHASE OF COMMON SHARES OF COMSOUTH BANKSHARES, INC.

 CAROLINA FIRST CORPORATION ANNOUNCES PURCHASE
 OF COMMON SHARES OF COMSOUTH BANKSHARES, INC.
 GREENVILLE, S.C., July 21 /PRNewswire/ -- Carolina First Corporation (NASDAQ: CAFC) announced the purchase of 4.9 percent of the common shares of ComSouth Bankshares, Inc. ("ComSouth") and the option to acquire an additional 4.9 percent upon receipt of regulatory approval. ComSouth is a bank holding company that operates through its two wholly- owned subsidiaries, the Commercial Bank of the South in Columbia, South Carolina and the Bank of Charleston in Charleston, South Carolina. Carolina First's purpose in the transaction is a possible acquisition of all or a portion of ComSouth or its subsidiaries.
 Mack I. Whittle, President and Chief Executive Officer of Carolina First Corporation, said, "Our goal is to make Carolina First a statewide financial institution and, if we are able to reach an agreement with ComSouth, we would make significant progress in expanding our market presence throughout South Carolina. It is also important to recognize that the management at ComSouth shares our same banking philosophy -- to provide high quality state-of-the-art products and services with a personal touch that recognizes each customer's individual needs."
 Carolina First Corporation is a $488 million asset financial institution holding company that offers a broad range of commercial and consumer financial services through its two subsidiaries, Carolina First Bank and Carolina First Savings Bank. Carolina First Bank is a state-chartered commercial bank that operates eight branches principally in northwestern South Carolina. Carolina First Savings Bank, headquartered in Georgetown, S.C., is a federally chartered savings bank with eight branches in coastal South Carolina.
 Carolina First's common stock is traded in the NASDAQ National Market System under the trading symbol CAFC; its preferred stock is traded over-the-counter under the symbol CAFCP. Market makers include J.C. Bradford & Co., Interstate/Johnson Lane Securities and The Robinson-Humphrey Company, Inc.
 -0- 7/21/92
 /CONTACT: William S. Hummers, III, (News Media) Carolina First Corporation, 803-255-7913/
 (CAFC) CO: Carolina First Corporation ST: South Carolina IN: FIN SU:


JZ -- CH011 -- 1512 07/21/92 16:28 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 21, 1992
Words:341
Previous Article:DELTA CONNECTION, COMAIR ANNOUNCES NEW SERVICE BETWEEN PANAMA CITY AND ORLANDO
Next Article:SEITEL ACQUIRES 230,000-PLUS MILE SEISMIC-DATA LIBRARY FROM TELEDYNE
Topics:


Related Articles
FIRST UNION ANNOUNCES MERGER AGREEMENT WITH DOMINION BANKSHARES AND ISSUES 1992 EARNINGS ESTIMATE
CAROLINA FIRST CORPORATION RECEIVES PERMISSION TO ACQUIRE ADDITIONAL COMSOUTH BANKSHARES, INC. COMMON STOCK
DOMINION BANKSHARES SHAREHOLDERS APPROVE FIRST UNION MERGER
FIRST UNION ACQUIRES DOMINION BANKSHARES CORPORATION
FIRST NATIONAL BANKSHARES, INC., APPROVES AFFILIATION WITH F&M NATIONAL CORPORATION
JAMES RIVER BANKSHARES, INC. ANNOUNCES PROPOSED MERGERS WITH FIRST COLONIAL BANK, F.S.B. AND BANK OF ISLE OF WIGHT
Community First Bankshares Completes Acquisition of Mountain Parks Financial Corp.
Provident Bankshares Corporation to Acquire First Citizens Financial Corporation
Wachovia, Jefferson Bankshares Inc. Announce Merger

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters