Bank Of Granite Merger

Said wednesday that they are merging to form the triad s largest community bank in assets at 2 9 billion.

Bank of granite merger.

In 2011 the bank acquired bank of granite. Bank of granite corp. Parent company of communityone bank n a with granite falls based bank of granite s parent company bank of granite corp. Is expected to close in.

Mar 14 2018 05 30 et. First colebrook bancorp inc. The merger of albemarle based fnb united corp. Thereafter the two bank subsidiaries communityone and bank of granite will be operated as separate entities until a future date after which the merged bank will be named communityone bank n a.

Has been operating under a cease and desist order with the federal deposit insurance corp. Bank of granite was founded in 1906 and has branches throughout western north carolina. The merger with granite bank complements the bank s long term vision to provide highly accessible and trusted local financial services to even more customers in northern new england. In conjunction with the transaction the bank raised 310 million of capital including 79 million from each of the carlyle group and oak hill capital partners.

In 2013 the bank holding company changed its name to communityone bancorp. In 2016 the bank was acquired by capital bank financial. The merger agreement provides that bank of granite shareholders will receive 3 375 shares of fnb s common stock in exchange for each share of bank of granite common stock they own immediately prior to completion of the merger. Merger details announced wednesday reveal long time hickory metro financial institution bank of granite will become part of asheboro based communityone bank and its parent company fnb united corp.

Communityone was founded in 1907 and serves communities in central southern and western. Bank of granite chairman john bray said wednesday the merger of the two north carolina banks will provide a stronger financial position and improve customer service. And the n c. Fnb united corp which is the parent company of communityone bank and bank of granite corp.