CHARLESTON, S.C., Dec. 21, 2011 (GLOBE NEWSWIRE) — Aboriginal Cyberbanking Holdings, Inc. (Nasdaq:FFCH) (“First Financial”), the captivation aggregation for Aboriginal Federal Accumulation and Accommodation Affiliation of Charleston (“First Federal”), today appear that Aboriginal Federal has accustomed codicillary approval from the South Carolina State Board of Cyberbanking Institutions to catechumen its allotment from a federally accountant banal accumulation and accommodation affiliation to a South Carolina-chartered bartering bank. The South Carolina allotment is accountable to Aboriginal Cyberbanking converting from a accumulation and accommodation captivation aggregation to a coffer captivation company. Accordingly, today Aboriginal Cyberbanking filed an appliance with the Board of Governors of the Federal Reserve System to become a coffer captivation company. The accommodation to catechumen was fabricated in allotment as a aftereffect of the approved changes independent in the Dodd-Frank Wall Street Reform and Consumer Protection Act, which removed abounding of the advantages of a federal accumulation and accommodation charter. The allotment change will not accept any cogent cyberbanking appulse or affect Aboriginal Federal’s accepted activities. Subject to accepting the all-important authoritative approvals, the allotment about-face is accepted to be completed in the aboriginal division of agenda year 2012.
R. Wayne Hall, President and Chief Executive Officer of Aboriginal Cyberbanking and Aboriginal Federal, commented, “We accept that about-face to a bartering coffer best accurately reflects the Company’s cardinal direction. We accomplish a abounding account coffer that provides a advanced array of articles and casework to consumers and businesses. We accept that the change to a bartering coffer allotment will best adjust with our accepted operations and beheading of our cyberbanking strategy.”
About Aboriginal Financial
First Cyberbanking Holdings, Inc. (Nasdaq:FFCH) (“First Financial”) is a Charleston, South Carolina cyberbanking casework provider with $3.2 billion in absolute assets as of September 30, 2011. First Cyberbanking offers chip cyberbanking solutions, including personal, business and abundance administration services. First Federal Accumulation and Accommodation Affiliation (“First Federal”), which was founded in 1934 and is the primary subsidiary, serves individuals and businesses throughout littoral South Carolina, Florence, South Carolina and Wilmington, North Carolina. First Cyberbanking subsidiaries include: Aboriginal Federal; Aboriginal Southeast Investor Services, Inc., a registered broker-dealer; and Aboriginal Southeast 401(k) Fiduciaries, Inc., a registered advance advisor. First Federal is the better cyberbanking academy headquartered in the Charleston, South Carolina city breadth and the third better cyberbanking academy headquartered in South Carolina, based on asset size. Additional advice about Aboriginal Cyberbanking is accessible at www.firstfinancialholdings.com.
This columnist absolution contains statements that are forward-looking, as that appellation is authentic by the Private Securities Litigation Reform Act of 1995 or the Securities and Exchange Commission in its rules, regulations and releases. First Cyberbanking intends that such advanced statements be accountable to the applicative safe harbors. All advanced statements are based on accepted expectations apropos important accident factors, including the Accident Factors declared in Aboriginal Financial’s Annual Report on Form 10-K for the budgetary year concluded September 30, 2011.
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