South Financial Group Inc. said that it won't make more acquisitions for at least the rest of the year after purchases in Florida and in North and South Carolina, The American Banker said.
Mack Whittle, CEO of the $14.6-billion company which is acquiring this quarter Pointe Financial Corp. in Boca Raton, said the purchases affected "the earnings of the company and the underlying performance," according to The American Banker.
South Financial reported for the first quarter earnings per diluted share of 47 cents, 4 cents below analyst estimates, the daily said.
