SCBT Financial Corporation and the Savannah Bancorp, Inc. to Merge
SCBT Financial Corporation (NASDAQ: SCBT) and The Savannah Bancorp, Inc. (NASDAQ: SAVB) jointly announced today the signing of a definitive merger agreement under which SCBT will acquire The Savannah Bancorp, Inc. for a total value of approximately $67.1 million.
Founded in 1990, The Savannah Bancorp, Inc. operates two banking subsidiaries, The Savannah Bank and Bryan Bank & Trust, which collectively have 11 locations in South Carolina and Georgia. Savannah Bancorp also operates Minis & Co., Inc., a registered investment advisor.
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