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June 13, 2008

South Carolina Bank and Trust Partners with Jasper County on Affordable Housing Initiative

Ridgeland, SC  - South Carolina Bank and Trust and Jasper County announced plans to partner on a program designed to provide affordable housing for residents of Jasper County.

Discussions about the need for this type of program were started in November of 2007 in an effort to insure that Jasper County grow in an efficient and well-planned manner.   One of the steps in the plan is to conduct an analysis of the current market and make sure that, as the county develops, affordable housing options still remain.   SCBT made a $5,000 contribution to help fund this study.

“During a meeting with Carl Kilpatrick a few months ago, I outlined Jasper County’s plan to establish an affordable housing program,” said Andrew P. Fulghum, county administrator for Jasper County.  “It was no surprise that Carl was interested and wanted to know how he could help.  He was quick to offer a financial contribution to help get the project moving.  We really appreciate the relationship that we have with SCBT.  It is obvious that they care about the community.”

A program like this is designed to avoid situations that other communities have faced where rapid growth causes a drastic increase in home and land values.  While this is good in many respects, it can result in higher taxes and expenses for homeowners, making it difficult to maintain their home.  By identifying these problem areas ahead of time, the community can attract the type of development that they need and continue to provide affordable housing options for residents. 

“Having been in the community for over 40 years, we wanted join the County and the other local businesses who have contributed to this worthwhile program,” said Carl Kilpatrick, senior vice president and Jasper County executive.    “One of the initiatives of the affordable housing program is to insure that we have guidelines to prepare for future growth in the county.  We are proud to be a part of Jasper County’s history and we feel obligated to do all we can to ensure that its future is bright for all residents.  SCBT has been serving the financial needs of the community for many years and it is important to us to give back.”

For additional information about the growth plan for the county or to determine how you can get involved to help, please contact Andrew Fulghum at 726-7703.

SCBT Financial Corporation, Columbia, South Carolina is a registered bank holding company incorporated under the laws of South Carolina.  The company has three subsidiary banks which are South Carolina Bank and Trust, N.A., the fourth largest bank headquartered in South Carolina; South Carolina Bank and Trust of the Piedmont, N.A.; and The Scottish Bank, N.A.  Providing financial services for over 73 years, SCBT Financial Corporation operates 50 financial centers in 16 South Carolina counties and Mecklenburg County of North Carolina and has assets of approximately $2.7 billion.  More information can be found at www.SCBTonline.com.

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