CresCom Bank signed a definitive agreement to acquire St. George branch of First Federal of South Carolina, F.S.B. on August 26, 2013. Upon completion of the transaction, all current First Federal of S.C. employees at the St. George branch are expected to become employees of CresCom Bank. The new CresCom Bank branch will be located at 5561 West Memorial Blvd. in St. George. The transaction, which is subject to regulatory approval and other standard closing conditions, is expected to be completed in late 2013 or early 2014.

Nelson Mullins Riley & Scarborough LLP acted as legal advisor for CresCom Bank. Banks Street Partners, LLC acted as financial advisor and Bryan Cave LLP acted as legal advisor for First Federal of South Carolina, F.S.B.

CresCom Bank completed the acquisition of St. George branch of First Federal of South Carolina, F.S.B. on February 21, 2014.