UNITED STATES
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: June 30, 1995
CAROLINA FIRST CORPORATION
(Exact name of registrant as specified in its charter)
South Carolina 0-15083 57-0824914
(State of other juris- (Commission (IRS Employer
diction of incorporation) File Number) Identification Number)
102 South Main Street, Greenville, South Carolina 29601
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (803) 255-7900
The Exhibit Index appears on page 4 hereof.<PAGE>
<PAGE>
Item 2. See Attached Press Release dated June 30, 1995.
Item 7. Financial Statements shall be filed as an amendment hereto no
later than September 14, 1995.
<PAGE>
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.
CAROLINA FIRST CORPORATION
July 11, 1995 By: /s/ William S. Hummers III
William S. Hummers III
Executive Vice President
<PAGE>
Exhibit Index
EXHIBIT
2.1 Reorganization Agreement entered into as of November 14, 1994,
as amended on May 1, 1995, by and among Carolina First Bank,
Carolina First Corporation and Midlands National Bank.
Incorporated by reference to Exhibit 2.1 of Carolina First
Corporation's Registration Statement on Form S-4, Commission
File No. 33-58805.
20.1 Press Release dated June 30, 1995.
<PAGE>
NEWS RELEASE
Date: June 30, 1995
Contact: William S. Hummers III
To: News Media
Release Date: Immediate
CAROLINA FIRST COMPLETES MIDLANDS NATIONAL BANK MERGER
GREENVILLE, S.C. - Carolina First Corporation (Nasdaq/NM:CAFC)
today announced the completion of the merger of its subsidiary,
Carolina First Bank, with Midlands National Bank. In connection
with the merger, each share of Midlands National Bank stock will be
exchanged for 1.65 shares of Carolina First Corporation common
stock. As a result of this common stock merger, Carolina First
will issue approximately 585,000 shares valued at approximately
$8.8 million to current holders of Midlands National Bank stock.
This transaction is being accounted for as a pooling of interests.
Midlands National Bank has total assets of approximately $44
million, loans of $27 million and deposits of $39 million.
Midlands National Bank's three branches are located in Prosperity,
Chapin and Newberry. All three branches will continue to operate
after the merger as branches of Carolina First Bank.
Mack I. Whittle, Jr., President and Chief Executive Officer,
Carolina First Corporation, said, "We are pleased to welcome the
shareholders and customers of Midlands National Bank to Carolina
First. This merger reinforces our strong commitment to serving
South Carolinians as the State's leading community based bank. We
look forward to bringing Carolina First's unique blend of sophisti-
cated banking products and old-fashioned, personalized service to
the communities of Prosperity, Chapin and Newberry."
David W. Bowers, President of Midlands National Bank, stated, "We
are pleased to be joining Carolina First. Our Board believes that
the local commitment of Carolina First, as the largest South
Carolina-based bank, will enable us to better serve and promote the
interests of our shareholders, customers, employees and the
communities in which we operate."
Carolina First Corporation, headquartered in Greenville, South
Carolina, has total assets of approximately $1.1 billion and is one
of the largest independent bank holding companies in South Carolina
with 50 banking offices throughout the state. Its two subsidiaries
are Carolina First Bank ("CFB"), a state-chartered commercial bank,
and Carolina First Mortgage Company ("CFMC"), a mortgage banking
operation. CFB is the largest South Carolina-based commercial
bank, and CFMC is the fifth largest mortgage loan servicer in South
Carolina. Through its subsidiaries, Carolina First provides a full
range of banking services, including mortgage, trust and investment
services, designed to meet substantially all of the financial needs
of its customers.
Carolina First's common stock trades on the Nasdaq National Market
under the symbol CAFC. Carolina First's preferred stock trades on
the Nasdaq Small-Cap Market under the symbols CAFCO and CAFCN.
Market makers include J.C. Bradford & Co., Fox-Pitt, Kelton Inc.,
Interstate/Johnson Lane, Morgan Keegan & Company, Inc., The
Robinson-Humphrey Company, Inc., Sterne Agee & Leach, and Wheat
First Butcher & Singer.
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