| 12/10/09 | The South Financial Group Receives NASDAQ Notice of Minimum Bid Price Non-Compliance| GREENVILLE, S.C., Dec 10, 2009 (BUSINESS WIRE) -- The South Financial Group, Inc. (NASDAQ:TSFG) today announced that, as a result of its trading price over a recent consecutive 30 business day period, on December 4, 2009 it received a letter from The NASDAQ Stock Market relating to the Company's non-compliance with Rule 5450(a)(1) of the NASDAQ Marketplace Rules. Under NASDAQ Marketplace Rule 5450(a)(1), all companies with their primary equity securities listed on The NASDAQ Global Select Market... |
| | 11/03/09 | Carolina First Selected for $60 Million in New Markets Tax Credit Allocation| GREENVILLE, S.C.--(BUSINESS WIRE)--Nov. 3, 2009--
Carolina First Bank, the banking subsidiary for The South Financial
Group, Inc. (NASDAQ: TSFG), announced that it received a $60 million tax
credit allocation as part of the 2009 round of the New Markets Tax
Credit (NMTC) Program. The Bank’s subsidiary, Carolina First Community
Development Corporation (CFCDC), was one of 99 recipients selected from
across the nation to receive an aggregate total of $5... |
| | 10/20/09 | The South Financial Group Reports Preliminary Third Quarter Results| View Printer-Friendly VersionQuarterly Financial Data SupplementFinancial Review Presentation
Accelerated Resolution of Problem Loans through Loan Sales Leading to Higher Net Charge-Offs, While Nonperforming Loan Balances Declined GREENVILLE, S.C.--(BUSINESS WIRE)--Oct. 20, 2009-- The South Financial Group, Inc. (NASDAQ: TSFG) today reported a preliminary third quarter 2009 net loss available to common shareholders of $340.8 million, or $(1.95) per diluted share, primarily from credit p... |
| | 09/30/09 | The South Financial Group Declares Cash Dividends on Preferred Stock| GREENVILLE, S.C.--(BUSINESS WIRE)--Sep. 30, 2009--
The South Financial Group, Inc. (NASDAQ: TSFG) announced that its Board
of Directors has declared a quarterly cash dividend of $12.50 per share
on its Fixed Rate Cumulative Perpetual Preferred Stock (Series 2008-T)
issued to the U.S. Treasury Department under its voluntary Capital
Purchase Program. This amount is based on a rate per annum of 5% and is
payable on November 15, 2009 to the preferred sto... |
| | 09/25/09 | The South Financial Group Announces Dates for 3rd Quarter 2009 Earnings Release and Conference Call| GREENVILLE, S.C.--(BUSINESS WIRE)--Sep. 25, 2009--
The South Financial Group, Inc. (NASDAQ: TSFG) announced it will release
third quarter 2009 earnings on Tuesday, October 20, 2009 after the
market closes. The press release and quarterly financial data supplement
will be available at that time in the Investor Relations section of
TSFG’s website, www.thesouthgroup.com.
The South Financial Group will hold a conference call/webcast on
Wedne... |
| | 09/21/09 | The South Financial Group Announces Successful Completion of Exchange Offer for Series 2008 Preferred Stock; Approximately 95% of Preferred Shares Outstanding to be Exchanged for Common Stock| GREENVILLE, S.C.--(BUSINESS WIRE)--Sep. 21, 2009--
The South Financial Group, Inc. (NASDAQ: TSFG), or TSFG, today announced
the final results of its previously announced offer to exchange shares
of its common stock, par value $1.00 per share (the “Common Shares”),
for any and all outstanding shares of TSFG’s 10% Mandatory Convertible
Non-Cumulative Preferred Stock, Series 2008ND-V, 10% Mandatory
Convertible Non-Cumulative Preferred Stock, Series 2008... |
| | 09/17/09 | The South Financial Group Announces Final Exchange Ratio for Its 10% Mandatory Convertible Non-Cumulative Preferred Stock, Series 2008 Exchange Offer| GREENVILLE, S.C.--(BUSINESS WIRE)--Sep. 17, 2009--
The South Financial Group, Inc. (NASDAQ: TSFG), or TSFG, today announced
that it has determined the final exchange ratio in connection with its
previously announced offer to exchange shares of its common stock, par
value $1.00 per share (the “Common Shares”), for any and all outstanding
shares of TSFG’s 10% Mandatory Convertible Non-Cumulative Preferred
Stock, Series 2008ND-V, 10% Mandatory Convertib... |
| | 09/14/09 | The South Financial Group Completes Sales of Ancillary Businesses| GREENVILLE, S.C.--(BUSINESS WIRE)--Sep. 14, 2009--
The South Financial Group, Inc. (NASDAQ:TSFG) announced that it has
completed the sale of three ancillary businesses, which generated
approximately $16 million in Tier 1 common capital through the gains
realized and the elimination of related intangible assets. The
businesses sold include:
Carolina First Bank’s merchant processing portfolio (completed
September 11, 2009);
... |
| | 09/11/09 | The South Financial Group Shareholders Approve Amendment to Articles of Incorporation and Conversion Terms of Preferred Stock| GREENVILLE, S.C.--(BUSINESS WIRE)--Sep. 11, 2009--
The South Financial Group, Inc. (NASDAQ: TSFG) held a Special Meeting of
Shareholders today at the Company’s Greenville headquarters.
Shareholders approved (1) an amendment to the Company’s Amended and
Restated Articles of Incorporation to increase the number of shares of
common stock authorized thereunder from 200,000,000 to 325,000,000 and
(2) the conversion terms of the Company’s Series 2009-A Pre... |
| | 08/20/09 | The South Financial Group Commences Exchange Offer for its 10% Mandatory Convertible Non-Cumulative Preferred Stock, Series 2008 and Suspends Cash Dividends on Common Stock| GREENVILLE, S.C., Aug 20, 2009 (BUSINESS WIRE) -- The South Financial Group, Inc., or TSFG, today announced that it has
commenced an offer to exchange shares of its common stock, par value
$1.00 per share (the "Common Shares") for any and all outstanding shares
of TSFG's 10% Mandatory Convertible Non-Cumulative Preferred Stock,
Series 2008ND-V, 10% Mandatory Convertible Non-Cumulative Preferred
Stock, Series 2008ND-NV, 10% Mandatory Convertible Non-Cumulat... |
| | 08/19/09 | The South Financial Group Names Rich Bradshaw as Director of Small Business Administration Lending| GREENVILLE, S.C.--(BUSINESS WIRE)--Aug. 19, 2009--
The South Financial Group, Inc. (NASDAQ:TSFG) announced that it has
named Richard Bradshaw as Executive Vice President and Director of Small
Business Administration (SBA) Lending. Bradshaw will be responsible for
the creation and management of a SBA lending unit to generate new
customers by focusing on small business lending opportunities in
Carolina First Bank’s North Carolina and South Carolina mar... |
| | 08/10/09 | The South Financial Group Appoints Donald T. Heroman as a Director| GREENVILLE, S.C.--(BUSINESS WIRE)--Aug. 10, 2009--
The Board of Directors of The South Financial Group, Inc. (NASDAQ: TSFG)
recently appointed Donald T. Heroman to the Board of Directors of TSFG,
as well as its banking subsidiary, Carolina First Bank. Heroman has had
an extensive career as an executive in the financial services industry.
Prior to his retirement in mid-2007, he was the Chief Financial Officer
of Equifax, Inc. based in Atlanta, Georgia... |
| | 07/23/09 | The South Financial Group to Present at KBW Community Bank Conference with Webcast Available| GREENVILLE, S.C., Jul 23, 2009 (BUSINESS WIRE) -- The South Financial Group, Inc. (NASDAQ: TSFG) is scheduled to present
at the Keefe, Bruyette & Woods (KBW) 10th Annual
Community Bank Investor Conference in New York on Tuesday, July 28th
at 8:30 a.m. ET. H. Lynn Harton, President & Chief Executive Officer,
and James R. Gordon, Senior Executive Vice President & Chief Financial
Officer, will participate in the presentation.
Investors may access a live audi... |
| | 07/21/09 | The South Financial Group Reports Second Quarter Results | View Printer-Friendly VersionQuarterly Financial Data SupplementFinancial Review Presentation
2Q09 Results Reflect Credit Environment and Execution of Strategic Priorities including Building a Strong Capital Position, Maintaining Higher Loan Loss Reserves, Reducing Non-Core Assets, and Expanding the Net Interest Margin GREENVILLE, S.C.--(BUSINESS WIRE)--Jul. 21, 2009-- The South Financial Group, Inc. (NASDAQ: TSFG) today reported a second quarter 2009 net loss available to common shareh... |
| | 06/25/09 | The South Financial Group Announces Dates for 2nd Quarter 2009 Earnings Release and Conference Call| GREENVILLE, S.C.--(BUSINESS WIRE)--Jun. 25, 2009--
The South Financial Group, Inc. (NASDAQ: TSFG) announced it will release
second quarter 2009 earnings on Tuesday, July 21, 2009 after the market
closes. The press release and quarterly financial data supplement will
be available at that time in the Investor Relations section of TSFG’s
website, www.thesouthgroup.com.
The South Financial Group will hold a conference call/webcast on
Wednesday, Ju... |
| | 06/19/09 | The South Financial Group Prices $75 Million Common Stock Offering| GREENVILLE, S.C., Jun 19, 2009 (BUSINESS WIRE) -- The South Financial Group, Inc. (NASDAQ: TSFG) today announced that it
priced a $75 million offering of 75 million shares of its common stock
at $1.00 per share. The underwriters will have a 30-day option to
purchase up to an additional 10 million shares of common stock from the
Company to cover over-allotments. The closing is expected to occur on or
about June 24, 2009.
Morgan Stanley & Co. Incorporated i... |
| | 06/18/09 | The South Financial Group Announces Capital Plan| Aggregate actions totaling $300 to $315 million of Tier 1 Common Includes a $94.5 million mandatory preferred conversion Includes launching of a $75 million common equity offering
GREENVILLE, S.C.--(BUSINESS WIRE)--Jun. 18, 2009--
The South Financial Group, Inc. (NASDAQ: TSFG) today announced a capital
plan estimated to add approximately $300 million to $315 million in Tier
1 common capital. These actions include:
... |
| | 06/08/09 | The South Financial Group Declares Cash Dividends on Common Stock and Preferred Stock| GREENVILLE, S.C., Jun 08, 2009 (BUSINESS WIRE) -- The South Financial Group, Inc. (NASDAQ:TSFG) announced that its Board
of Directors has declared a third quarter 2009 cash dividend in the
amount of $0.01 per common share. This dividend will be paid on August
1, 2009 to common shareholders of record as of July 15, 2009.
Also, TSFG's Board of Directors declared a quarterly cash dividend of
$25.00 per share on its Mandatory Convertible Non-cumulative Preferred
... |
| | 06/02/09 | The South Financial Group Announces Headquarters Will Remain in Downtown Greenville| GREENVILLE, S.C.--(BUSINESS WIRE)--Jun. 2, 2009--
The South Financial Group, Inc. (NASDAQ: TSFG) today announced that the
headquarters for TSFG and Carolina First Bank will remain at Poinsett
Plaza in downtown Greenville, South Carolina. TSFG will begin a targeted
marketing program to maximize the value of its investment in its planned
campus facility adjacent to the International Center for Automotive
Research (“ICAR”).
“We determined... |
| | 04/21/09 | The South Financial Group Reports First Quarter Results| View Printer-Friendly VersionQuarterly Financial Data SupplementFinancial Review Presentation
Company Entered 2009 Prepared for a Weakening Economy with Strong Capital, Reserves, and Liquidity; Lower Noninterest Expenses; and Renewed Strategic FocusGREENVILLE, S.C., Apr 21, 2009 (BUSINESS WIRE) -- The South Financial Group, Inc. (NASDAQ: TSFG) today reported a first
quarter 2009 net loss available to common shareholders of $90.8 million,
or $(1.10) per diluted share. The net l... |
| | 04/08/09 | The South Financial Group Names Tom Holland as Director of Mortgage| GREENVILLE, S.C., Apr 08, 2009 (BUSINESS WIRE) -- The South Financial Group, Inc. (NASDAQ: TSFG) announced that it has
named Thomas W. Holland as Executive Vice President - Director of
Mortgage. Holland leads all aspects of TSFG's mortgage area, including
sales, underwriting, operations, portfolio servicing, and secondary
marketing. He reports directly to Chris Holmes, Senior Executive Vice
President - Director of Retail Strategy.
"We are very pleased to ... |
| | 03/30/09 | The South Financial Group Announces Dates for 1st Quarter 2009 Earnings Release and Conference Call| GREENVILLE, S.C.--(BUSINESS WIRE)--Mar. 30, 2009--
The South Financial Group, Inc. (NASDAQ: TSFG) announced it will release
first quarter 2009 earnings on Tuesday, April 21, 2009 after the market
closes. The press release and quarterly financial data supplement will
be available at that time in the Investor Relations section of TSFG’s
website, www.thesouthgroup.com.
The South Financial Group will hold a conference call/webcast on
Wednesd... |
| | 03/26/09 | The South Financial Group to Hold Annual Meeting of Shareholders on May 5, 2009| GREENVILLE, S.C.--(BUSINESS WIRE)--Mar. 26, 2009--
The South Financial Group, Inc. (NASDAQ: TSFG) today announced that the
Company’s Annual Meeting of Shareholders will be held on Tuesday, May 5,
2009 at 10:30 a.m. ET at the Gunter Theatre, 300 South Main Street,
Greenville, SC.
The South Financial Group’s 2009 Proxy Statement and 2008 Annual Report
to Shareholders are available on the Internet at www.thesouthgroup.com/proxy.
... |
| | 02/20/09 | The South Financial Group Declares Cash Dividends on Common Stock and Preferred Stock| GREENVILLE, S.C.--(BUSINESS WIRE)--Feb. 20, 2009--
The South Financial Group, Inc. (NASDAQ: TSFG) announced that its Board
of Directors has declared a second quarter 2009 cash dividend in the
amount of $0.01 per common share. This dividend will be paid on May 1,
2009 to common shareholders of record as of April 15, 2009.
Also, TSFG’s Board of Directors declared a quarterly cash dividend of
$25.00 per share on its Mandatory Convertible Non-cum... |
| | 02/09/09 | The South Financial Group Names H. Lynn Harton as President and CEO| GREENVILLE, S.C.--(BUSINESS WIRE)--Feb. 9, 2009--
The South Financial Group, Inc. (NASDAQ: TSFG) announced that its Board
of Directors today voted unanimously to name H. Lynn Harton as President
and Chief Executive Officer, effective immediately. This follows
Harton’s previous appointment as Interim President and CEO, a position
that he held since November 13, 2008. Harton was also appointed to serve
as a Board member for The South Financial Group.
... |
| | 01/27/09 | The South Financial Group Reports Fourth Quarter 2008 and Full-Year Results| View Printer-Friendly VersionQuarterly Financial Data SupplementFinancial Review Presentation
Company Experiences Disappointing 2008 Results While Strengthening
Capital Base and Increasing Reserve Levels; Preparing for Challenging
Economic Environment to Continue in 2009
Tangible common equity ratio of 6.05%, or 7.84% reflecting the
Mandatorily Convertible Preferred Stock
Strengthened regulatory capital with $347 million inve... |
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