SCBT Financial Corporation and the Savannah Bancorp, Inc. to Merge

SCBT Financial Corporation

and The Savannah Bancorp, Inc.

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.