-
First Financial Holdings (SCBT) in Columbia, S.C., is planning to change its name for the second time in as many years.
February 18 -
United Bankshares, in Charleston, W.Va., reported an increase in second-quarter earnings, in part because of its acquisition of Virginia Commerce Bancorp in Arlington.
July 29
South State reported
The $7.9 billion-asset bank's profits were $17.9 million. Operating earnings were 92 cents per share, beating an estimate of analysts polled by Bloomberg by two cents. Excluding merger expenses and including dividends, its earnings were 74 cents per share.
South State attributed the improvement to higher fee income, lower expenses and the elimination of its preferred stock dividend.
South State was created when
Net income from interest-bearing assets rose 46%, to $81 million. The net interest margin fell by 26 basis points to 4.75%.
Noninterest income rose to $24.4 million, in part because of a reduction in negative accretion on the indemnification asset. Mortgage banking, debit card services and trust and investment services all improved.
Noninterest expense rose to $75.9 million. That figure includes $5.2 million for merger-related expenses and $1.3 million for rebranding expenses.