Staff Report
Published Feb. 8, 2010

Shareholders of First Financial Holdings have elected Paula Harper Bethea as chairwoman of the company’s board of directors and of the board of its subsidiary, First Federal Savings and Loan Association of Charleston.

She replaces James C. Murray, who retired from both boards after 19 years of service. At the recent annual shareholders’ meeting, Murray was named director emeritus.

Bethea, who in September was named executive director of the S.C. Education Lottery, joined the boards of the bank and its holding company in 1996.

“Ms. Bethea has 14 years of board experience in virtually every aspect of our companies operations and governance,” said A. Thomas Hood, president and CEO.

Previous coverage
S.C. Education Lottery picks new top executive
First Federal reports $4.5 million quarterly loss

First Financial’s board of directors also declared a quarterly cash dividend of 5 cents per share, payable Feb. 26 to shareholders of record as of Feb. 12.

“Our board of directors continues to carefully evaluate the level of our dividend,” Hood said. “We continue to believe there is a critical need to preserve our strong capital base through these challenging economic times.”

First Federal operates 65 offices spread throughout the Charleston area; Horry, Georgetown, Florence and Beaufort counties in South Carolina; and Brunswick, New Hanover and Pender counties in North Carolina. It is the largest bank based in the Charleston market and has the second-largest share of deposits in the metro area.

First Financial also provides insurance and brokerage services through First Southeast Insurance Services, The Kimbrell Insurance Group and First Southeast Investor Services.