Published March 15, 2012
Auctions of the stock will take place around March 26.
First Financial Holdings is the holding company of First Federal, the oldest and largest Charleston-based bank. The Treasury Department also is selling shares of five other U.S. banks.
In December 2008, the department invested $65 million in First Financial. The preferred stock pays a 5% annual dividend until 2013, when it will increase to 9%.
To date, the department said it has recovered $259 billion from TARP’s programs compared with its initial investment of $245 billion.