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: April 24, 2000
THE SOUTH FINANCIAL GROUP, INC.
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(Exact name of registrant as specified in its charter)
(formerly Carolina First Corporation)
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: (864) 255-7900
The Exhibit Index appears on page 4 hereof.
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ITEM 5. OTHER EVENTS
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On April 19, 2000, the shareholders of Carolina First Corporation ("CFC")
approved the amendment of CFC's articles of incorporation to change CFC's name
to The South Financial Group, Inc. CFC has filed articles of amendment with the
Secretary of State of South Carolina to effect this name change. On April 24,
2000, the name change was effective and the stock (formerly traded on the Nasdaq
National Market under the symbol "CAFC") began to be traded on the Nasdaq
National Market under the new symbol "TSFG".
See attached Press Release.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
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(a) Financial Statements of the Businesses Acquired. Not Applicable
(b) Pro Forma Financial Information. Not Applicable
(c) Exhibits.
99.1 Press Release
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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
April 25, 2000 By: /s/ William S. Hummers III
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William S. Hummers III
Executive Vice President
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EXHIBIT INDEX
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EXHIBIT
99.1 Press Release
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THE SOUTH FINANCIAL GROUP 102 South Main Street
Greenville, SC 29601
864.255.4919
NEWS RELEASE
DATE: April 19, 2000
RELEASE TIME: Immediate
SHAREHOLDERS APPROVE CAROLINA FIRST CORPORATION
CORPORATE NAME CHANGE TO THE SOUTH FINANCIAL GROUP
GREENVILLE, SC - Carolina First Corporation (Nasdaq/NM:CAFC) today announced
that the Company's shareholders approved the corporate name change to The South
Financial Group, Inc. at the annual meeting of shareholders. The name change
will be effective as of April 24, 2000, at which time the Company's common stock
will begin trading under the new corporate trading symbol, "TSFG."
Mack I. Whittle, Jr., President and Chief Executive Officer, commented, "The
South Financial Group more clearly reflects the strategic direction of our
Company. Our new name captures our regional focus on fast-growing Southeastern
markets. It also emphasizes our broad and evolving array of financial services.
While we are changing our corporate name, our subsidiary bank names -- which are
readily recognized and have significant franchise value -- will remain. The
South Financial Group will operate Carolina First Bank in South Carolina, Citrus
Bank in Florida, and Bank CaroLine on the Internet. Our shareholders, employees,
and customers have expressed enthusiastic support for new corporate name and
strategic focus."
In other formal business conducted at the meeting, shareholders elected four
directors to new three-year terms expiring in 2003. Elected to three-year terms
were M. Dexter Hagy; H. Earle Russell, Jr.; William R. Timmons, Jr.; and Samuel
H. Vickers. In addition, shareholders approved the Company's Amended and
Restated Fortune 50 Plan and increased the shares available for issuance under
the Company's Amended and Restated Stock Option Plan and the Company's Amended
Common Stock Dividend Reinvestment Plan.
The South Financial Group, headquartered in Greenville, South Carolina, is a
financial services company with $3.6 billion in total assets, 62 branch offices
in South Carolina and 13 banking offices in northern and central Florida. It
operates Carolina First Bank, the largest South Carolina-based commercial bank;
Citrus Bank, a Florida banking subsidiary; Carolina First Mortgage Company, the
second largest mortgage loan servicer in South Carolina; and Carolina First
Bank, F.S.B., a savings bank which offers Bank CaroLine (an Internet bank).
Other subsidiaries include a full service brokerage company, an automobile
finance company and a small business investment company that invests principally
in bank technology companies. Effective April 24th, The South Financial Group's
common stock will trade on the Nasdaq National Market under the symbol TSFG.
Carolina First's press releases are available by telefax at no charge by calling
PR Newswire's Company News On-Call at 800-758-5804, extension 144553. Press
releases along with additional information may also be found at The South
Financial Group's web site: http://www.thesouthgroup.com.
Certain matters set forth in this news release may contain forward-looking
statements that are provided to assist in the understanding of anticipated
future financial performance. However, such performance involves risks and
uncertainties that may cause actual results to differ materially from those in
such statements. For a discussion of certain factors that may cause such
forward-looking statements to differ materially from the Company's actual
results, see the Company's Annual Report on Form 10-K for the year ended
December 31, 1999.
CONTACTS:
William S. Hummers III, Executive Vice President, (864) 255-7913
Mary M. Gentry, Treasurer, (864) 255-4919
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