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| | UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 | |
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| | | Form 8-K | | |
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Current Report Pursuant to Section 13 or 15(d)of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 18, 2011 |
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| | First Financial Holdings, Inc. | |
| | | (Exact name of registrant as specified in charter) | | |
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| Delaware | | 0-17122 | | 57-0866076 |
| State or other jurisdiction of incorporation | Commission File Number | I.R.S. Employer I.D. number |
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| 2440 Mall Drive, Charleston, South Carolina 29406 |
| | | (Address of principal executive offices) | | |
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| | Registrant's telephone number (including area code): (843) 529-5933 | |
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| | | Not applicable | | |
| | (Former name or former address, if changed since last report) | |
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| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4c under the Exchange Act (17 CFR 240.13e-4(c)) |
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Section 2 – Financial Information
Item 2.06 Material Impairment
On July 18, 2011, First Financial Holdings, Inc. (“First Financial”) issued a press release announcing that First Financial will record a provision for loan losses of approximately $73 million on a pre-tax basis. The charge is a result of reclassifying approximately $155 million of certain nonperforming and performing loans to held for sale status as of June 30, 2011 in connection with pursuing potential loan sale alternatives that are expected to result in the disposition of these assets by calendar year end. The full text of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Section 9 -- Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit (99.1). Press release dated July 18, 2011.
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.
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| | | FIRST FINANCIAL HOLDINGS, INC |
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| | | /s/ Blaise B. Bettendorf |
| | | Blaise B. Bettendorf |
| | | Executive Vice President |
| | | and Chief Financial Officer |
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| Date: July 18, 2011 | | |
EXHIBIT INDEX
| Exhibit Number | | Description |
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| 99.1 | | Press release dated July 18, 2011 |
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