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First Federal Savings and Loan Association of Charleston Acquires All Deposits and Loans of Wilmington-based Cape Fear Bank.

Publication: PR Newswire
Publication Date: 10-APR-09
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Company to expand service to new customers in North Carolina

CHARLESTON, S.C. and WILMINGTON, N.C., April 10 /PRNewswire-FirstCall/ -- First Federal Savings and Loan Association of Charleston ("First Federal"), a subsidiary of First Financial Holdings, Inc. , announced that it has entered into an agreement with the Federal Deposit Insurance Corporation ("FDIC") to assume all of the deposits (excluding most brokered deposits) and certain assets of Cape Fear Bank, a full service community bank headquartered in Wilmington, North Carolina. All Cape Fear Bank offices will be open and serving customers on Monday, April 13, 2009, as branches of First Federal. Cape Fear Bank depositors will automatically become depositors of First Federal, and deposits will continue to be insured by the FDIC. With this acquisition, First Federal will now operate 66 retail banking centers in North and South Carolina.

Over the weekend, depositors of Cape Fear Bank can access their money by writing...

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