SCBT Financial Corp., parent company of SCBT, has completed its acquisition of the Peoples Bancorporation Inc., according to a news release Tuesday.
The deal was announced in December but couldn't be completed until approved by regulators and each bank's board of directors.
Founded in 1933, SCBT is third-largest bank with South Carolina headquarters, the release said. It has seven branches in Beaufort and Jasper counties. People's Bancorporation had eight branches, all in the Upstate, which will remain in operation.
SCBT now has about $4.5 billion in assets, according to the release.