Bailout Bank Bio: SCBT Financial

Aug 4, 2009 | 2 min read | Print Article

SCBT Financial Corporation, through its subsidiaries, provides retail and commercial banking services, mortgage lending services, trust and investment services, and consumer finance loans. The company’s deposit products include checking, negotiable order of withdrawal, savings, time deposit, interest-bearing, and transaction accounts, as well as certificates of deposits. It offers loans for businesses, agriculture, real estate, personal use, home improvement, and automobiles, as well as credit cards, letters of credit, and home equity lines of credit. The company also provides brokerage services, trust and asset management services, safe deposit boxes, bank money orders, wire transfer services, correspondent banking services, and ATM facilities, as well as alternative investment products, such as annuities and mutual funds. As of December 31, 2008, it operated approximately 50 financial centers in 16 South Carolina counties and Mecklenburg County of North Carolina. The company was formerly known as First National Corporation and changed its name to SCBT Financial Corporation in February 2004. The company was founded in 1934 and is headquartered in Columbia, South Carolina.

On January 16, 2009, the company began participating in the Treasury Department’s Capital Purchase Program . Under the program the company received $64,779,000 million from Treasury in exchange for preferred stock. On May 20, 2009, the company fully re-purchased its preferred stock from the Treasury Department. SCBT paid $64,779,000 million to reclaim the stock.

Federal Equity Investment	$64.8 million
Total Revenue	$174.9 million (2008)
Net Income	$15.8 million (2008)
Number of Employees	692
Corporate Headquarters	Columbia, SC
Business Sector	Banking
Officers and Directors	Horger, Robert , Chairman of the Board Hill, Robert , President, CEO, Director Other Officers and Directors
Corporate Website	http://www.scbandt.com/
Executive Compensation	SCBT Financial