First Financial Holdings, Inc. Announces Appointment of President and Chief Executive Officer and Chief Financial Officer

CHARLESTON, SC – May 11, 2010 – First Financial Holdings, Inc. (“First Financial” or the “Company”) (NASDAQ GSM: FFCH), the holding company for First Federal Savings and Loan Association of Charleston (“First Federal” or the “Association”), announced today that R. Wayne Hall was appointed President and Chief Executive Officer of First Financial and Chief Executive Officer of First Federal.  Mr. Hall succeeds A. Thomas Hood in these positions.  In addition, Blaise B. Bettendorf was appointed Chief Financial Officer of First Financial and First Federal. The changes were made in accordance with the Company’s succession plan and are effective immediately.

Mr. Hall had served as the Principal Financial and Accounting Officer and Chief Financial Officer of the Company since May 2007 and as First Federal’s Chief Operating Officer since July 2009. Ms. Bettendorf joined the Company in January 2010 and prior to her appointment as Chief Financial Officer had served as Chief Accounting Officer of the Company and First Federal. Mr. Hood will continue to serve as President of First Federal and as a director of the Company and First Federal.

“Tom’s leadership and dedication are evident in the success the Company and First Federal have experienced during his 35 years with the Company.  He was instrumental in taking First Federal public in 1983 and in the success the Company has enjoyed since going public,” stated Paula Harper Bethea, the Chairman of the Board of both companies.  “His dedication, vision and guidance have helped us build a strong, successful financial institution and we are forever grateful for his leadership.  The rest of the directors and I are very excited about our transition plans as we anticipate Tom’s retirement in June 2011, and that Wayne is assuming these additional responsibilities at the Company and First Federal as part of this transition plan.  We are excited to watch Wayne continue in his strong leadership of our organization and to implement his team’s operating and strategic plans.”

Mr. Hall commented, “I look forward to continuing Tom’s efforts in the successful operation of the Company and First Federal and moving forward with our established strategic plan.  Additionally, I am very pleased with the confidence the Board has placed in me.” 

First Federal

First Federal operates 65 offices located in the Charleston metropolitan area, Horry, Georgetown, Florence and Beaufort counties in South Carolina and Brunswick, New Hanover and Pender counties in coastal North Carolina offering banking, trust and pension administration services.  The Company also provides insurance and brokerage services through First Southeast Insurance Services, The Kimbrell Insurance Group and First Southeast Investor Services.
  
For additional information about First Financial, please visit our web site at www.firstfinancialholdings.com or contact Dorothy B. Wright, Vice President-Investor Relations and Corporate Secretary, (843) 529-5931 or (843) 729-7005.