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THE NATIONAL BANK OF SOUTH CAROLINA ACQUIRES STANDARD FEDERAL SAVINGS AND LOAN ASSOCIATION

 COLUMBIA, S.C., Sept. 24 /PRNewswire/ -- The National Bank of South Carolina (NBSC) (NASDAQ-NMS: NSCB) has acquired the branches and insured deposits of Standard Federal Savings and Loan Association, a Columbia- based thrift institution which has been operating under the management of the Resolution Trust Corporation (RTC), the Federal Government entity which oversees failed thrift institutions.
 In making the announcement, Robert V. Royall Jr., chairman and chief executive officer, said: "In the current economic and competitive environment for banks, certain opportunities are created. Today's announcement reflects NBSC's desire and capacity to take advantage of one of those opportunities. Standard Federal has enjoyed a loyal customer base throughout its 82-year history and we enthusiastically welcome these depositors to NBSC and look forward to servicing all of their financial needs."
 "The acquisition of Standard Federal's deposits, which totaled $160 million at Aug. 31, 1993, will greatly enhance the efficiency of NBSC's existing branch network and strengthen our market position in the Columbia area," Royall said. He noted that this transaction is consistent with NBSC's strategic priority of expanding its presence in the Midlands, a market in which NBSC has recently seen tremendous growth. These deposits will also support the increased loan growth which NBSC has experienced during the past year.
 On Monday, Sept. 27, 1993, the seven Standard Federal branches will open under the supervision of NBSC management. Standard Federal customers are being notified of these changes by mail and through signs in Standard Federal offices. To help facilitate customers' transition to NBSC, bank representatives will be available in all former Standard Federal branches to answer questions. All customers will have access to expanded financial services at all NBSC offices following the full integration and conversion of Standard Federal customer account information into NBSC's systems.
 NBSC currently operates 38 offices in 24 South Carolina communities. The corporation reported total assets of $780 million on June 30, 1993, and with this acquisition approaches the $1 billion asset mark. The 88-year-old NBSC is the largest independent bank headquartered in South Carolina.
 -0- 9/24/93
 /CONTACT: William L. Pherigo, President of NBSC, 803-929-2063/
 (NSCB)


CO: The National Bank of South Carolina; Standard Federal Savings and
 Loan Association ST: South Carolina IN: FIN SU: TNM


CM-MC -- CH011 -- 5636 09/24/93 18:59 EDT
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Publication:PR Newswire
Date:Sep 24, 1993
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