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CAROLINA FIRST ANNOUNCES THE ACQUISITION OF FIRST SUN MORTGAGE

 GREENVILLE, S.C., Sept. 30 /PRNewswire/ -- Carolina First Corporation (NASDAQ-NMS: CAFC) today announced the acquisition of First Sun Mortgage Corporation. First Sun Mortgage Corporation was a privately owned company headquartered in Columbia, S.C. which engaged in loan servicing and mortgage loan origination operations. Joseph C. Reynolds has been named president of Carolina First's mortgage corporation.
 Mack I. Whittle Jr., president and chief executive officer of Carolina First Corporation, said: "We are pleased to be acquiring First Sun Mortgage Corporation. Expanding our mortgage banking operation fits well with our strategy of providing a full range of banking services, typical of larger institutions, to our customers. With the historically low interest rate environment, and the accompanying flurry of refinancing activity, it is an especially attractive time to be pursuing mortgage banking business."
 Carolina First Corporation, headquartered in Greenville, offers a broad range of commercial, consumer and mortgage financial services through two subsidiaries, Carolina First Bank and Carolina First Savings Bank. Carolina First Bank is a state-chartered commercial bank that operates 22 branches throughout South Carolina. Carolina First Savings Bank, headquartered in Georgetown, is a federally chartered savings bank with eight branches in coastal South Carolina.
 Carolina First's preferred stock trades over-the-counter under the symbols CAFCP and CAFCO. Market makers include J.C. Bradford & Co., Interstate/Johnson Lane, Robinson Humphrey Co. Inc., Sterne Agee & Leach, and Wheat First Securities.
 -0- 9/30/93
 /CONTACT: William S. Hummers III of Carolina First, 803-255-7900/
 (CAFC)


CO: Carolina First Corporation; First Sun Mortgage Corporation ST: South Carolina IN: FIN SU: TNM

SB -- CH005 -- 7197 09/30/93 10:41 EDT
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Publication:PR Newswire
Date:Sep 30, 1993
Words:265
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