Form 8-k is being submitted pursuant to Rule 901(d) of Regulation S-T
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
January 25, 1996
First Financial Holdings, Inc.
(Exact name of registrant as specified in charter)
Delaware 0-17122 57-0866076
State or other jurisdiction Commission I.R.S. Employer
of incorporation File Number I. D. number
34 Broad Street, Charleston, South Carolina 29401
(Address of principal executive offices)
(803) 529-5800
Registrant's telephone number (including area code)
<PAGE>
Item 5. Other Events
On January 25, 1996, First Financial Holdings, Inc. announced
that A. L. Hutchinson, Jr. will retire as President and Chief
Executive Officer of First Financial Holdings, Inc. effective
June 30, 1996.
A. Thomas Hood was named President and Chief Executive Officer
of First Financial Holdings effective July 1, 1996. He will
continue to serve as President and Chief Executive Officer of
First Federal Savings and Loan Association of Charleston.
Susan E. Baham was named Senior Vice President and Chief
Financial Officer and Treasurer of First Financial Holdings
effective July 1, 1996.
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits
Exhibit (1). Press release dated January 25, 1996
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the Registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
FIRST FINANCIAL HOLDINGS, INC.
/s/ A. L. Hutchinson, Jr.
A. L. Hutchinson, Jr.
President and Chief Executive
Officer
Date: January 30, 1996
Exhibit 1
Press release dated January 25, 1996
Contact: Phyllis B. Ainsworth
Corporate Secretary
(803) 529-5931
FIRST FINANCIAL HOLDINGS, INC. ANNOUNCES
EXECUTIVE CHANGES AND RESULTS OF ANNUAL MEETING
Charleston, South Carolina (January 25, 1996) -- At the annual
meeting of shareholders of First Financial Holdings, Inc. held on
January 24, 1996, A. L. Hutchinson, Jr. announced his retirement
as President and Chief Executive Officer of First Financial
Holdings effective June 30, 1996. At its subsequent meeting, the
Board of Directors named A. Thomas Hood President and Chief
Executive Officer of First Financial Holdings, Inc. effective
July 1, 1996. He will continue in his position as President and
Chief Executive Officer of First Federal of Charleston. The
Board of Directors also named Susan E. Baham Senior Vice
President and Chief Financial Officer and Treasurer of First
Financial Holdings, Inc. effective July 1, 1996.
Also at the annual meeting, James C. Murray, D. Kent Sharples
and D. Van Smith were re-elected to the Board of Directors for
three year terms to expire in January 1999. Mr. Smith is
Chairman of the Board of First Financial and First Federal.
Effective with the meeting, Herman B. Speissegger, Jr. retired
as a Director of the Board after 18 years of service to the
Company and First Federal of Charleston. He was recently named
Director Emeritus of the Board of Directors. A. L. Hutchinson,
Jr., President and Chief Executive Officer, stated, "We
appreciate the many contributions Mr. Speissegger has made to our
Company, our industry and the communities we serve. We look
forward to his continued association as Director Emeritus and as
a Director of our subsidiary, Peoples Federal Savings and Loan
Association."
Hutchinson, a Citadel graduate, joined First Federal in 1961,
was named Senior Vice President, Lending in 1973, Executive Vice
President, Production in 1979, and was elected to the Board of
Directors in 1985. He became President and Chief Executive
Officer of First Financial Holdings and First Federal of
Charleston in 1988. On February 1, 1995, he was elected Vice
Chairman of First Financial and First Federal and also serves on
the Board of Peoples Federal. He is past Chairman of the Trident
Technical College Foundation Board and serves as Vice President
and member of the Board of the Coastal Carolina Council of the
Boy Scouts of America and a member of the Board of Directors of
the Star Gospel Mission.
Hood began his career with First Federal in 1975. He was
named Senior Vice President of Financial Services in 1983 and was
promoted to Executive Vice President, Services Division,
Treasurer and Chief Financial Officer in 1984. He was elected to
the Board of Directors in 1987 and also serves on the Board of
Peoples Federal. A graduate of the Citadel and licensed
Certified Public Accountant, he has served as Chairman of the
Financial Institutions Accounting Committee and President of the
SUMIT/Systematic Users Group and Coastal Chapter of CPAs. He
presently serves on the Board of Directors of the Business
Development Corporation of South Carolina and the Board of
Trustees of the Charleston Museum and is a member and past
Chairman of the Advisory Board of the Salvation Army.
Baham graduated Summa Cum Laude from Mississippi University
for Women. She joined First Federal in 1971 and was promoted to
Vice President of Accounting in 1978. She became Vice President
of Finance in 1984 and Vice President of First Financial
Holdings, Inc. in 1988. She is past president of the South
Carolina Chapter of the Financial Managers Society and has served
as a National Director for the Financial Managers Society.
Commenting on the executive changes, D. Van Smith, Chairman of
the Board, said, "The Company is very fortunate to have had the
dedicated and knowledgeable service of Mr. Hutchinson for 35
years. We look forward to his continuing as a Director of the
Company, First Federal and Peoples Federal. Mr. Hood's proven
leadership greatly enhances the future prospects of the Company
and the Association. We are also most appreciative of Mrs.
Baham's exceptional contributions to our Company and believe that
these changes represent a continued commitment to the performance
that our stockholders and customers have come to expect."
The common stock of First Financial Holdings, Inc. is traded
on the NASDAQ Stock Market under the symbol FFCH.
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