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NBSC AND FIRST TRIDENT ANNOUNCE MERGER PLANS

 NBSC AND FIRST TRIDENT ANNOUNCE MERGER PLANS
 SUMTER, S.C., April 21 /PRNewswire/ -- Robert V. Royall, Jr.,


chairman and CEO of NBSC Corporation (NASDAQ-NMS: NSCB) and The National Bank of South Carolina (NBSC) and Charles C. Graham, CEO of First Trident Savings & Loan Corporation announced today that NBSC and First Trident have executed a letter of intent to merge the two companies through an exchange of common stock. The terms of the preliminary agreement would call for First Trident shareholders to receive 0.4844 shares of NBSC common stock, in a tax-free exchange, for each share of First Trident stock.
 The merger, which is expected to be completed during the fourth quarter of this year, is subject to, among other things, regulatory approvals and approval by the shareholders of First Trident.
 At the end of the first quarter, First Trident reported assets of $80 million and deposits of almost $55 million. At this same time, NBSC reported assets of $587 million and deposits of $530 million.
 In announcing the merger plans, Royall said that "this merger is a positive situation for our banks and for South Carolina because First Trident will be merged into NBSC in such a way as to best leverage the strengths of both companies to the benefit of the expanded customer and employee bases and to the South Carolina communities we serve."
 First Trident, which opened its main office in Charleston in 1983 and its branch in Columbia in 1988, will join NBSC's network of 29 banking offices in 16 South Carolina cities and communities. In discussing the merger, Graham said that "we are pleased that this merger will allow First Trident to extend the full array of NBSC's commercial banking services to our customers. In addition to these expanded services, First Trident customers also will benefit from increased services through the NBSC network of branch offices and ATMs."
 Royall said that "First Trident is a well-managed, profitable, strongly capitalized savings and loan association with strength in residential mortgage banking. And, Charles Graham and his team all of whom will remain headquartered in Charleston, will now serve a greatly expanded distribution network with a full array of real estate mortgage products."
 Graham said that he and his staff are "pleased to be able to expand our impact, from our base in Charleston, throughout the rest of South Carolina. We believe that our expertise in the mortgage lending area will be an asset to the combined companies."
 Graham, with more than 25 years of mortgage banking experience, will assume responsibility for management of NBSC's Mortgage Banking Division.
 First Trident's Meeting Street office in Charleston will become part of NBSC's branch system in its coastal region. Current plans call for several NBSC officers and employees, including John M. Jordan, Jr., executive officer of the Bank's coastal region, to relocate their offices to this facility.
 "This gives us the opportunity to enter the Charleston market with an established institution, and we look forward to working with First Trident's customers, directors, employees, and shareholders as we move forward, building NBSC's presence in this vital coastal area of South Carolina," Royall said.
 -0- 4/21/92
 /CONTACT: Fran Collins, Director of Marketing, NBSC Corporation, 803-778-8224/
 (NSCB) CO: NBSC Corporation; The National Bank of South Carolina; First
 Trident Savings & Loan Corporation ST: South Carolina IN: FIN SU: TNM


DF -- CH004 -- 0546 04/21/92 11:02 EDT
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Publication:PR Newswire
Date:Apr 21, 1992
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