SCBT Acquires Community Bank & Trust in FDIC-assisted Deal

COLUMBIA, S.C.--(Business Wire)--
SCBT Financial Corporation (NASDAQ: SCBT) announced that its bank subsidiary,
SCBT, N.A., has entered into a purchase and assumption agreement with loss share
arrangements with the Federal Deposit Insurance Corporation ("FDIC") to assume
all the deposits and certain other liabilities and purchase certain assets of
Community Bank & Trust, a full service community bank headquartered in Cornelia,
Georgia. With this acquisition, SCBT, N.A. will now operate financial centers in
Georgia, North Carolina and South Carolina.

Founded in 1900, Community Bank & Trust is the oldest bank in Habersham County
and one of the oldest financial institutions in Northeast Georgia. Community
Bank & Trust operates 36 banking locations in Habersham, Hall, White, Rabun,
Stephens, Jackson, Banks, Barrow, Oconee, Towns, Troup, and Muscogee Counties in
Georgia. Based on the June 2009 FDIC summary of deposits, Community Bank & Trust
ranked 7th in Georgia state deposit market share among Georgia-based
institutions.

As of September 30, 2009, Community Bank & Trust had approximately $1.2 billion
in total assets and $1.1 billion in total deposits. SCBT, N.A. did not pay the
FDIC a premium to assume all of the deposits. The FDIC and SCBT, N.A. also
entered into a loss sharing agreement covering substantially all of the acquired
loans and foreclosed real estate.

SCBT will not acquire any of the assets or assume any liabilities of Community
Bank & Trust`s former bank holding company, Community Bankshares, Inc., nor its
other bank subsidiaries, Community Bank & Trust of West Georgia and Community
Bank & Trust of Alabama.

"This is a great step for our company. The addition of Community Bank & Trust's
36 locations enhances our presence on the I-85 corridor from Charlotte to
Atlanta," said Robert R. Hill, Jr., president and CEO, SCBT Financial
Corporation. "This 110 year-old institution has a long history of serving the
financial needs of the citizens of Georgia. We look forward to helping them
continue this legacy of service. We welcome the Community Bank & Trust
customers."

SCBT is well-positioned to complete the acquisition as a result of its strong
financial and capital position, which in May 2009 permitted the company to be
one of the first banks in the country to redeem the preferred stock ($64.8
million) and common stock warrant ($1.4 million) issued to the US Treasury under
the Troubled Asset Relief Program. No additional capital was required to support
the FDIC-assisted transaction.

Community Bank & Trust`s banking locations will reopen during their normal
business hours beginning on Saturday as branches of Community Bank & Trust, a
division of SCBT, N.A. The company has sent more than 70 employees of SCBT to
work closely with the employees and customers of Community Bank & Trust during
the transition. Community Bank & Trust depositors will automatically become
depositors of SCBT, N.A., and deposits will continue to be insured by the FDIC.

Over the weekend, depositors of Community Bank & Trust can access their money as
they always have, by writing checks, accessing online banking, or using ATM or
debit cards. Checks drawn on Community Bank & Trust will continue to be
processed. Customers of both banks should continue to bank as they normally do
at their existing branches.

SCBT will provide more information about the Community Bank & Trust transaction
on its website, www.SCBTonline.com, on Monday, February 1, 2010.

SCBT was advised in the transaction by Sandler O`Neill + Partners, L.P. and
Wachtell, Lipton, Rosen & Katz.

SCBT Financial Corporation, Columbia, South Carolina is a registered bank
holding company incorporated under the laws of South Carolina. The Company
consists of SCBT, N.A., the third largest bank headquartered in South Carolina
and NCBT, a Division of SCBT, N.A. Providing financial services for over 75
years, SCBT Financial Corporation operates 48 financial centers in 16 South
Carolina counties and Mecklenburg County in North Carolina. Named in Forbes as
one of the 100 Most Trustworthy Companies in America, SCBT Financial Corporation
has assets of approximately $2.7 billion and its stock is traded under the
symbol SCBT in the NASDAQ Global Select Market. More information can be found at
www.SCBTonline.com.

Cautionary Statement Regarding Forward Looking Statements

Statements included in this press release which are not historical in nature are
intended to be, and are hereby identified as, forward looking statements for
purposes of the safe harbor provided by Section 21E of the Securities Exchange
Act of 1934. SCBT Financial Corporation cautions readers that forward-looking
statements are subject to certain risks and uncertainties that could cause
actual results to differ materially from forecasted results. Such risks and
uncertainties, include, among others, the following possibilities: (1) credit
risk associated with an obligor's failure to meet the terms of any contract with
the bank or otherwise fail to perform as agreed; (2) interest risk involving the
effect of a change in interest rates on both the bank's earnings and the market
value of the portfolio equity; (3) liquidity risk affecting the bank's ability
to meet its obligations when they come due; (4) price risk focusing on changes
in market factors that may affect the value of traded instruments in
"mark-to-market" portfolios; (5) transaction risk arising from problems with
service or product delivery; (6) compliance risk involving risk to earnings or
capital resulting from violations of or nonconformance with laws, rules,
regulations, prescribed practices, or ethical standards; (7) strategic risk
resulting from adverse business decisions or improper implementation of business
decisions; (8) reputation risk that adversely affects earnings or capital
arising from negative public opinion; (9) terrorist activities risk that results
in loss of consumer confidence and economic disruptions; (10) economic downturn
risk resulting in deterioration in the credit markets; (11) greater than
expected non-interest expenses; (12) excessive loan losses; (13) potential
deposit attrition, higher than expected costs, customer loss and business
disruption associated with the integration of Community Bank & Trust, including,
without limitation, potential difficulties in maintaining relationships with key
personnel and other integration related-matters; and (14) other factors, which
could cause actual results to differ materially from future results expressed or
implied by such forward-looking statements.

SCBT Financial Corporation
Media:
Donna Pullen, 803-765-4558
or
Analyst:
John C. Pollok, 803-765-4628

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