Here is the solution for you given scenario -
List<String>ls = new ArrayList<String>();
ls.add("dfsa#FSDfsd");
ls.add("dfsdaor#ooiui");
String[] firstArray = new String[ls.size()];
firstArray =ls.toArray(firstArray);
String[] secondArray = new String[ls.size()];
for(int i=0;i<ls.size();i++){
secondArray[i]=firstArray[i].split("#")[0];
firstArray[i]=firstArray[i].split("#")[1];
}