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SCBT > SEC Filings for SCBT > Form 8-K on 29-Nov-2012All Recent SEC Filings

Show all filings for SCBT FINANCIAL CORP



Other Events

Item 8.01 Other Events.

On November 28, 2012, SCBT Financial Corporation (the "Company") received regulatory approval from the Board of Governors of the Federal Reserve System to merge with The Savannah Bancorp, Inc., a Georgia corporation ("SAVB," and such merger, the "Merger"), pursuant to the Agreement and Plan of Merger between the Company and SAVB, dated as of August 7, 2012 (the "Merger Agreement"), and to thereby acquire The Savannah Bank, National Association, a national banking association ("Savannah Bank"), and Bryan Bank & Trust, a Georgia banking corporation ("Bryan Bank"), each a wholly owned subsidiary of SAVB. On the same date, the Company received regulatory approval from the Federal Deposit Insurance Corporation for SCBT, a South Carolina banking corporation and wholly owned subsidiary of the Company ("SCBT Bank"), to merge with Savannah Bank and Bryan Bank under the charter of and with the title of SCBT Bank (the "Bank Mergers"). As the Company previously received the necessary regulatory approvals for the Merger and the Bank Mergers from each of the South Carolina State Board of Financial Institutions and the Georgia Department of Banking and Finance, all regulatory approvals required in connection with the Merger have now been obtained.

Completion of the Merger remains subject to approval by shareholders of SAVB of the Merger Agreement and to approval by shareholders of the Company of the issuance of Company common stock in connection with the Merger, as well as to customary closing conditions. Assuming such approvals are received and conditions are satisfied, the Company expects to complete the Merger on or about December 13, 2012.

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