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        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
        <font face="Times New Roman, Times, Serif" size="4"><b>UNITED STATES</b></font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
        <font face="Times New Roman, Times, Serif" size="4"><b>SECURITIES AND EXCHANGE
        COMMISSION</b></font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
        <font face="Times New Roman, Times, Serif" size="3"><b>WASHINGTON, D.C.
        20549</b></font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
        <font face="Times New Roman, Times, Serif" size="3"><b>FORM 8-K</b></font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
        <font face="Times New Roman, Times, Serif" size="2"><b>CURRENT REPORT
        PURSUANT</b></font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
        <font face="Times New Roman, Times, Serif" size="2"><b>TO SECTION 13 OR 15(D) OF
        THE</b></font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
        <font face="Times New Roman, Times, Serif" size="2"><b>SECURITIES EXCHANGE ACT OF
        1934</b></font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
        <font face="Times New Roman, Times, Serif" size="2">Date of Report (Date of earliest event
        reported): December 10, 2008</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
        <font face="Times New Roman, Times, Serif" size="2"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
        South Financial Group, Inc. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>
        &nbsp;</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
        <font face="Times New Roman, Times, Serif" size="2">(Exact name of registrant as specified
        in its charter)</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

        <table style="MARGIN-LEFT: 0pt; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="646" align="center" border="0">
            <tr>
                <td valign="top" nowrap colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                    <font face="Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>
                    <font face="Times New Roman, Times, Serif" size="2"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South
                    Carolina&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font></p>
                </td>

                <td valign="top" nowrap colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                    <font face="Times New Roman, Times, Serif" size="2"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0-15083&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font></p>
                </td>

                <td valign="top" nowrap colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                    <font face="Times New Roman, Times, Serif" size="2"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57-0824914&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font></p>
                </td>

                <td width="7">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td width="7">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                    &nbsp;</p>
                </td>

                <td valign="top" nowrap colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                    <font face="Times New Roman, Times, Serif" size="2">(State or other
                    jurisdiction of incorporation)</font></p>
                </td>

                <td valign="top" nowrap colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                    <font face="Times New Roman, Times, Serif" size="2">(Commission File
                    Number)</font></p>
                </td>

                <td valign="top" nowrap colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                    <font face="Times New Roman, Times, Serif" size="2">(IRS Employer
                    Identification Number)</font></p>
                </td>
            </tr>

            <tr>
                <td width="7">
                </td>

                <td width="235">
                </td>

                <td width="7">
                </td>

                <td width="175">
                </td>

                <td width="7">
                </td>

                <td width="220">
                </td>

                <td width="7">
                </td>
            </tr>
        </table>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
        <font face="Times New Roman, Times, Serif" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>

        <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="638" align="center" border="0">
            <tr>
                <td valign="top" nowrap width="100">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                    &nbsp;</p>
                </td>

                <td valign="top" nowrap width="333">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                    <font face="Times New Roman, Times, Serif" size="2"><u>102 South Main Street,
                    Greenville, South Carolina</u></font></p>
                </td>

                <td valign="top" nowrap width="213">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                    <font face="Times New Roman, Times, Serif" size="2"><u>29601</u></font></p>
                </td>
            </tr>

            <tr>
                <td valign="top" nowrap width="100">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                    &nbsp;</p>
                </td>

                <td valign="top" nowrap width="333">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                    <font face="Times New Roman, Times, Serif" size="2">(Address of principal
                    executive offices)</font></p>
                </td>

                <td valign="top" nowrap width="213">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                    <font face="Times New Roman, Times, Serif" size="2">(Zip Code)</font></p>
                </td>
            </tr>
        </table>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">
        <font face="Times New Roman, Times, Serif" size="2">Registrant&rsquo;s telephone number,
        including area code: (864) 255-7900</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">
        <font face="Times New Roman, Times, Serif" size="2">Check the appropriate box below if the
        Form 8-K filing is intended to simultaneously satisfy the filing obligation of the
        registrant under any of the following provisions:</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="638" border="0">
            <tr>
                <td valign="top" nowrap width="50">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                    <font face="wingdings">o</font></p>
                </td>

                <td valign="top" nowrap width="650">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                    <font face="Times New Roman, Times, Serif" size="2">Written communications
                    pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>
                </td>
            </tr>
        </table>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.12in; TEXT-ALIGN: left">
        &nbsp;</p>

        <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="638" border="0">
            <tr>
                <td valign="top" nowrap width="50">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                    <font face="wingdings">o</font></p>
                </td>

                <td valign="top" nowrap width="650">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                    <font face="Times New Roman, Times, Serif" size="2">Soliciting material
                    pursuant to Rule 14a-12 under the Securities Act (17 CFR 240.14a-12)</font></p>
                </td>
            </tr>
        </table>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.12in; TEXT-ALIGN: left">
        &nbsp;</p>

        <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="638" border="0">
            <tr>
                <td valign="top" nowrap width="50">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                    <font face="wingdings">o</font></p>
                </td>

                <td valign="top" nowrap width="650">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                    <font face="Times New Roman, Times, Serif" size="2">Pre-commencement
                    communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
                    240.14d-2(b))</font></p>
                </td>
            </tr>
        </table>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.12in; TEXT-ALIGN: left">
        &nbsp;</p>

        <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="638" border="0">
            <tr>
                <td valign="top" nowrap width="50">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                    <font face="wingdings">o</font></p>
                </td>

                <td valign="top" nowrap width="650">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                    <font face="Times New Roman, Times, Serif" size="2">Pre-commencement
                    communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
                    240.13e-4(c))</font></p>
                </td>
            </tr>
        </table>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <p style="PAGE-BREAK-BEFORE: always"></p>
        <PAGE>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><b><font size="2">Item
        5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of
        Certain Officers; Compensatory Arrangements of Certain Officers.</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2">The South
        Financial Group, Inc. (&ldquo;TSFG&rdquo; or the &ldquo;Company&rdquo;) has made certain
        organizational changes at the senior executive level. H. Lynn Harton, Interim President and
        CEO, has created a 10-person Executive Management Team, which will replace the
        Company&rsquo;s 3-person Operating Council.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2">In
        connection with these organizational changes, Robert A. Edwards, previously EVP &ndash;
        Chief Risk Officer, has become EVP &ndash; Chief Credit Officer, with responsibilities for
        credit risk management and related processes. J. Ernie Diaz, previously the market
        president for the Company&rsquo;s South Florida market, has been named President of the
        Company&rsquo;s Florida operations (conducted under the name Mercantile Bank). William P.
        Crawford, Jr., EVP &ndash; General Counsel, has added responsibilities for Enterprise Risk
        Management and has also become the Chief Risk Officer. Christopher S. Gompper, EVP &ndash;
        Director Commercial Strategy, expands his current role to assume responsibility for line of
        business support for Commercial Banking. Additionally, the following executives are members
        of the Executive Management Team: Tanya A. Butts, EVP &ndash; Chief Operations and
        Technology Officer; Scott M. Frierson, President &ndash; North and South Carolina; James R.
        Gordon, Senior EVP &ndash; Chief Financial Officer; Christopher T. Holmes, Senior EVP
        &ndash; Director Retail Strategy, and Mary A. Jeffrey, EVP &ndash; Chief Human Resources
        Officer.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2">Kendall L.
        Spencer resigned from his position as President of Mercantile Bank, but will remain with
        the Company until February 15, 2009. In connection with Mr. Spencer&rsquo;s resignation,
        Mr. Spencer and the Company entered into a Separation and Release Agreement, a copy of
        which is attached hereto as Exhibit 10.1. This Separation and Release Agreement, the terms
        of which are incorporated by reference herein, provides for cash payments to Mr. Spencer, a
        complete release of TSFG, and other miscellaneous covenants. All such payments are within
        the executive compensation limits established by TARP Capital Purchase Program.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2">Also, on
        December 11, 2008, the Company's Board of Directors approved amendments to the TSFG Long
        Term Incentive Plan and The South Financial Group 2005 Executive and Director Deferred
        Compensation Plan. These amendments were primarily related to compliance with Internal
        Revenue Code Section 409A and</font> <font size="2">do not have a material impact on the
        economic benefits to be received by the plan participants. A copy of the each of the TSFG
        Long-Term Incentive Plan and The South Financial Group 2005 Executive and Director Deferred
        Compensation Plan are filed herewith as Exhibits 10.2 and 10.3, respectively, and are
        incorporated herein by reference.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: left">
        &nbsp;</p>

        <div align="left">
            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="638" border="0">
                <tr>
                    <td valign="top" nowrap width="1">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        &nbsp;</p>
                    </td>

                    <td valign="top" nowrap width="637">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <b><font size="2">Item 9.01.</font></b> <font size="2">&nbsp;</font>
                        <u><b><font size="2">Financial Statements and
                        Exhibits</font></b></u><b><font size="2">.</font></b></p>
                    </td>
                </tr>
            </table>
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <div align="left">
            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="638" border="0">
                <tr>
                    <td valign="top" nowrap width="144">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <u><font size="2">Exhibit No.</font></u></p>
                    </td>

                    <td valign="top" nowrap width="494">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <u><font size="2">Description</font></u></p>
                    </td>
                </tr>
            </table>
        </div>

        <div align="left">
            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="144">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">10.1</font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">Separation and Release Agreement</font></p>
                    </td>
                </tr>
            </table>
        </div>

        <div align="left">
            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="144">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">10.2</font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">TSFG Long Term Incentive Plan</font></p>
                    </td>
                </tr>
            </table>
        </div>

        <div align="left">
            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" width="144">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">10.3</font></p>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">The South Financial Group 2005 Executive and Director
                        Deferred Compensation Plan</font></p>
                    </td>
                </tr>
            </table>
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
        <font size="2">2</font></p>
        <!-- EEDocs PBStart-->

        <p style="PAGE-BREAK-BEFORE: always"></p>

        <p style="PAGE-BREAK-BEFORE: always"></p>
        <PAGE><!-- EEDocs PBEnd-->

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
        <b><font size="2">Signatures</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: left">
        <font size="2">Pursuant to the requirements of the Securities Exchange Act of 1934, the
        registrant has duly caused this report to be signed on its behalf by the undersigned
        hereunto duly authorized.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 2in; TEXT-INDENT: 0.5in; TEXT-ALIGN: left">
        <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
        THE SOUTH FINANCIAL GROUP, INC.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <div align="left">
            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="638" border="0">
                <tr>
                    <td valign="top" nowrap width="289">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">December 11, 2008</font></p>
                    </td>

                    <td valign="top" nowrap width="43">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <font size="2">By:</font></p>
                    </td>

                    <td valign="top" nowrap width="307">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                        <u><i><font size="2">/s/ William P. Crawford, Jr.</font></i></u></p>
                    </td>
                </tr>
            </table>
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 2in; TEXT-INDENT: 0.5in; TEXT-ALIGN: left">
        <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
        William P. Crawford, Jr.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 2in; TEXT-INDENT: 0.5in; TEXT-ALIGN: left">
        <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
        Executive Vice President, General Counsel and Secretary</font></p>

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{"company-data": {"conformed-name": "SOUTH FINANCIAL GROUP INC", "cik": "0000797871", "assigned-sic": "6022", "irs-number": "570824914", "state-of-incorporation": "SC", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-15083", "film-number": "081244279"}, "business-address": {"street1": "102 S MAIN ST", "city": "GREENVILLE", "state": "SC", "zip": "29601", "phone": "8642557900"}, "mail-address": {"street1": "102 S MAIN STREET", "city": "GREENVILLE", "state": "SC", "zip": "29601"}, "former-company": {"former-conformed-name": "CAROLINA FIRST CORP", "date-changed": "19920703"}}
UNITED STATES
SECURITIES AND EXCHANGE
        COMMISSION
WASHINGTON, D.C.
        20549
FORM 8-K
CURRENT REPORT
        PURSUANT
TO SECTION 13 OR 15(D) OF
        THE
SECURITIES EXCHANGE ACT OF
        1934
Date of Report (Date of earliest event
        reported): December 10, 2008
The
        South Financial Group, Inc.
(Exact name of registrant as specified
        in its charter)
South
                    Carolina
0-15083
57-0824914
(State or other
                    jurisdiction of incorporation)
(Commission File
                    Number)
(IRS Employer
                    Identification Number)
102 South Main Street,
                    Greenville, South Carolina
29601
(Address of principal
                    executive offices)
(Zip Code)
Registrant's telephone number,
        including area code: (864) 255-7900
Check the appropriate box below if the
        Form 8-K filing is intended to simultaneously satisfy the filing obligation of the
        registrant under any of the following provisions:
o
Written communications
                    pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material
                    pursuant to Rule 14a-12 under the Securities Act (17 CFR 240.14a-12)
o
Pre-commencement
                    communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
                    240.14d-2(b))
o
Pre-commencement
                    communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
                    240.13e-4(c))
Item
        5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of
        Certain Officers; Compensatory Arrangements of Certain Officers.
The South
        Financial Group, Inc. ("TSFG" or the "Company") has made certain
        organizational changes at the senior executive level. H. Lynn Harton, Interim President and
        CEO, has created a 10-person Executive Management Team, which will replace the
        Company's 3-person Operating Council.
In
        connection with these organizational changes, Robert A. Edwards, previously EVP –
        Chief Risk Officer, has become EVP – Chief Credit Officer, with responsibilities for
        credit risk management and related processes. J. Ernie Diaz, previously the market
        president for the Company's South Florida market, has been named President of the
        Company's Florida operations (conducted under the name Mercantile Bank). William P.
        Crawford, Jr., EVP – General Counsel, has added responsibilities for Enterprise Risk
        Management and has also become the Chief Risk Officer. Christopher S. Gompper, EVP –
        Director Commercial Strategy, expands his current role to assume responsibility for line of
        business support for Commercial Banking. Additionally, the following executives are members
        of the Executive Management Team: Tanya A. Butts, EVP – Chief Operations and
        Technology Officer; Scott M. Frierson, President – North and South Carolina; James R.
        Gordon, Senior EVP – Chief Financial Officer; Christopher T. Holmes, Senior EVP
        – Director Retail Strategy, and Mary A. Jeffrey, EVP – Chief Human Resources
        Officer.
Kendall L.
        Spencer resigned from his position as President of Mercantile Bank, but will remain with
        the Company until February 15, 2009. In connection with Mr. Spencer's resignation,
        Mr. Spencer and the Company entered into a Separation and Release Agreement, a copy of
        which is attached hereto as Exhibit 10.1. This Separation and Release Agreement, the terms
        of which are incorporated by reference herein, provides for cash payments to Mr. Spencer, a
        complete release of TSFG, and other miscellaneous covenants. All such payments are within
        the executive compensation limits established by TARP Capital Purchase Program.
Also, on
        December 11, 2008, the Company's Board of Directors approved amendments to the TSFG Long
        Term Incentive Plan and The South Financial Group 2005 Executive and Director Deferred
        Compensation Plan. These amendments were primarily related to compliance with Internal
        Revenue Code Section 409A and
do not have a material impact on the
        economic benefits to be received by the plan participants. A copy of the each of the TSFG
        Long-Term Incentive Plan and The South Financial Group 2005 Executive and Director Deferred
        Compensation Plan are filed herewith as Exhibits 10.2 and 10.3, respectively, and are
        incorporated herein by reference.
Item 9.01.
Financial Statements and
                        Exhibits
.
Exhibit No.
Description
10.1
Separation and Release Agreement
10.2
TSFG Long Term Incentive Plan
10.3
The South Financial Group 2005 Executive and Director
                        Deferred Compensation Plan
2
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the
        registrant has duly caused this report to be signed on its behalf by the undersigned
        hereunto duly authorized.
THE SOUTH FINANCIAL GROUP, INC.
December 11, 2008
By:
/s/ William P. Crawford, Jr.
William P. Crawford, Jr.
Executive Vice President, General Counsel and Secretary
3