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CAROLINA FIRST CORPORATION APPROVES 5 PERCENT STOCK DIVIDEND

 CAROLINA FIRST CORPORATION APPROVES 5 PERCENT STOCK DIVIDEND
 GREENVILLE, S.C., March 11 /PRNewswire/ -- The Board of Directors of Carolina First Corporation (NASDAQ: CAFC) approved a 5 percent stock dividend to shareholders of record on April 1, 1992. The stock dividend, which will be issued on April 15, 1992, will result in the addition of approximately 142,000 shares. This is the fourth consecutive year that Carolina First Corporation has issued a 5 percent stock dividend to its shareholders.
 William R. Timmons, Jr., Chairman of the Board, cited the Company's earnings consistency and balance sheet stability as major strengths in today's banking environment. "During the past five years, Carolina First has experienced annual earnings growth of approximately 35 percent. We are proud of our record, particularly our consistently increasing earnings. By issuing a fourth 5 percent stock dividend, we continue to provide a return to our shareholders while retaining capital for future growth."
 Carolina First Corporation, a $448 million asset financial institution holding company with $32 million in equity, 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, is a federally chartered savings bank with eight branches in coastal South Carolina.
 An initial public offering, held in October 1986, raised $15 million in capital to organize the Company. This public offering earned Carolina First the distinction of being the largest bank holding company created in South Carolina. Its stock is traded in the NASDAQ National Market under the trading symbol CAFC.
 -0- 3/11/92
 /CONTACT: William S. Hummers, III, Carolina First Corporation, 803-255-7900/
 (CAFC) CO: Carolina First Corporation ST: South Carolina IN: FIN SU: DIV


JZ -- CH004 -- 7203 03/11/92 09:12 EST
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Publication:PR Newswire
Date:Mar 11, 1992
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