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Business Description
The South Financial Group, Inc. operates as the holding company for Carolina First Bank and Mercantile Bank that provide a range of financial products and services to small and middle market businesses, and consumers in South Carolina, Florida, and North Carolina. Its financial products and services comprise banking, insurance, mortgage banking, retail investment services, treasury services, and trust and investment management services. The company also offers various commercial and consumer banking services, including deposit accounts; secured and unsecured loans through direct and indirect channels; residential mortgage originations; treasury services; and wealth management services, such as insurance and brokerage services. In addition, it provides Internet banking services, including bill payment services. As of December 31, 2006, the company operated 77 branch offices in South Carolina, 66 in Florida, and 24 in North Carolina. The South Financial Group was founded in 1986 and is headquartered in Greenville, South Carolina.