SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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) April 7, 2000
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Community Capital Corporation
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(Exact Name of Registrant as Specified in Its Charter)
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<S> <C> <C>
South Carolina 0-18460 57-0866395
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(State or Other Jurisdiction of Incorporation) (Commission File Number) (I.R.S. Employer Identification No.)
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1402-C Highway 72 Greenwood, South Carolina 29649
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(Address, Including Zip Code, of Principal Executive Offices)
(864) 941-8200
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(Registrant's Telephone Number, Including Area Code)
N/A
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(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events.
On April 7, 2000, Mid State Bank, a wholly-owned bank of Community Capital
Corporation, announced the signing of a definitive agreement with Carolina First
Bank ("Carolina First") concerning the acquisition by Mid State Bank of Carolina
First's branch office located in Prosperity, South Carolina. The transaction is
expected to close during the second quarter of 2000, pending regulatory approval
and other conditions of closing. A copy of the News Release is attached hereto
as Exhibit 99 (page 3 of 4).
Item 7. Financial Statements and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits.
Exhibit 99, News Release, dated April 7, 2000.
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.
COMMUNITY CAPITAL CORPORATION
Date: April 11, 2000 By: /s/William G. Stevens
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William G. Stevens
Chief Executive Officer
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EXHIBIT 99
NEWS RELEASE
Community Capital Corporation Carolina First Corporation
1402C Highway 72 West P.O. Box 1029
Greenwood, SC 29649 Greenville, SC 29602
864/941-8206 864/255-4919
NEWS RELEASE
DATE: April 7, 2000
RELEASE DATE: Immediate
MID STATE BANK AND CAROLINA FIRST BANK ANNOUNCE
AGREEMENT ON SALE OF PROSPERITY OFFICE
Greenville and Greenwood, SC -- Mid State Bank, a subsidiary of Community
Capital Corporation (AMEX: CYL), and Carolina First Bank, a subsidiary of
Carolina First Corporation (Nasdaq/NM:CAFC), announced today the signing of a
definitive agreement by which Mid State Bank will purchase the Prosperity, South
Carolina office from Carolina First Bank. The Prosperity branch office has total
deposits of approximately $10 million. The transaction is expected to be
completed during the second quarter of 2000, pending regulatory and certain
other conditions of closing. The terms of the transaction were not disclosed.
William F. Steadman, President of Mid State Bank, stated, "We are delighted to
expand our branch system in Prosperity and Newberry County. Our style of banking
is high touch and relationship oriented, so the customers should notice very
little change in that regard. Our new customers will find that we offer a very
high level of service and local decision making."
James W. Terry, Jr., President of Carolina First Bank, said, "We are pleased
that the purchaser of our Prosperity branch is a South Carolina community bank
which shares our goal of serving the banking needs of South Carolinians. Our
decision to sell this office in no way reflects a shift in our strategy of being
South Carolina's bank, but merely permits Carolina First to focus our efforts
and gain efficiency improvements."
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Community Capital Corporation is a five bank holding company operating out of 14
full service offices and three loan production offices in upstate of South
Carolina.
Carolina First Bank, the largest South Carolina-based commercial bank, is a
wholly-owned subsidiary of Carolina First Corporation, headquartered in
Greenville, South Carolina. Carolina First Corporation 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. Carolina First's common
stock trades on the Nasdaq National Market under the symbol CAFC. 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 Carolina First's
web site: http://www.carolinafirst.com.
CONTACTS:
Community Capital Corporation
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James H. Stark, Executive Vice President/CFO, (864) 941-8206
Carolina First Corporation
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William S. Hummers III, Executive Vice President, (864) 255-7913
Mary M. Gentry, Treasurer, (864) 255-4919
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