According to The Sun News , South Carolina Bank and Trust who is the owner of Columbia’s largest publicly traded bank, and First Financial Holdings, inc who is parent company of First Federal Bank annonced that they have agreed to a $302 million merger.
When and if the meger deal closes possibly in the Fall the combined bank will become the fifth-largest in South Carolina based on customer deposits.
The holding company of the combined company will operate under the name of First Financial Holdings, Inc, but a decision hasn't been made on the name of the combined 148 branches in the Carolinas would use.
Both of the banks the banks’ boards unanimously approved the merger, according to a joint press release which can be read here or here. The merger is expected to close in the third quarter of 2013 and is subject to customary conditions, including approval by both companies shareholders.