UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report: November 2, 2002
The South Financial Group, Inc.
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(Exact name of registrant as specified in its charter)
South Carolina 0-15083 57-0824914
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(State of other juris- (Commission (IRS Employer
diction of incorporation) File Number) Identification Number)
102 South Main Street, Greenville, South Carolina 29601
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (864) 255-7900
THIS FORM 8-K/A CORRECTS THE FORM 8-K FILED BY THE REGISTRANT ON NOVEMBER 5,
2002. THE FOLLOWING ITEM 5 REPLACES IN ITS ENTIRETY THE INFORMATION DISCLOSED
UNDER ITEM 2 IN THE PREVIOUS FILING.
ITEM 5. ACQUISITION OR DISPOSITION OF ASSETS
Effective October 31, 2002, The South Financial Group, Inc. ("TSFG")
through Carolina First Bank ("CFB"), TSFG's wholly-owned banking subsidiary,
completed its acquisition of substantially all of the assets and deposits of
Rock Hill Bank & Trust ("RHBT"), which is the wholly-owned banking subsidiary of
RHBT Financial Corporation. Pursuant to the Asset Sale Agreement dated September
3, 2002 among TSFG, CFB and RHBT (the "Asset Sale Agreement") RHBT received
430,017 shares of TSFG common stock, plus agreed to pay a cash earnout equal to
30% of the net improvement from August 31, 2002 through December 31, 2005 in the
aggregate charge-offs and reserves in a specific pool of designated loans and
50% of net amounts recovered under RHBT Financial's blanket bond insurance
policy with respect to such loans. In return, TSFG obtained RHBT's three
branches in York County, including two in Rock Hill and one in Fort Mill, South
Carolina. TSFG merged RHBT's branches into CFB and added approximately $185
million in deposits.
On November 1, 2002, TSFG issued a press release announcing the
consummation of the transaction contemplated by the Asset Sale Agreement.
The Asset Sale Agreement and the press release are filed herewith as
Exhibits 2 and 99, respectively, and are incorporated herein by reference in
their entirety. The foregoing description of the Asset Sale Agreement does not
purport to be complete and is qualified in its entirety by reference to the full
text of such agreement.
ITEM 7. EXHIBITS.
(a) Exhibits.
2.1 Asset Sale Agreement dated September 3, 2002 among The South
Financial Group, Inc., Carolina First Bank and Rock Hill Bank
& Trust. Incorporated by reference to Appendix A of TSFG's
Registration Statement on Form S-4, Commission File No.
333-100100, filed on September 26, 2002.
99.1 Press Release of TSFG issued November 1, 2002. Incorporated by
reference to Exhibit 99.1 to TSFG's Form 8-K filed on November
5, 2002.
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.
THE SOUTH FINANCIAL GROUP, INC.
November 11, 2002 By: /s/ William S. Hummers III
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William S. Hummers III
Executive Vice President