Community One Bank Of Granite Merger

Communityone bank and bank of granite have announced plans to merge creating a financial network with more than 5 billion in deposits and assets.

Community one bank of granite merger. Asheboro n c june 10 2013 communityone bank n a the principal bank subsidiary of fnb united corp. Parent company of communityone bank n a with granite falls based bank of granite s parent company bank of granite corp. In 2013 the bank holding company changed its name to communityone bancorp. 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.

In 2016 the bank was acquired by capital bank financial. Is expected to close in. Announced today that it had completed the merger of its sister. The merger of albemarle based fnb united corp.

Said wednesday that they are merging to form the triad s largest community bank in assets at 2 9 billion. Bank of granite corp. The merger of these 100 year old institutions will create a north carolina community banking organization with approximately 2 9 billion in assets 2 4 billion in deposits and 63 full service. 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.

The deal is expected to close in the third quarter. The combined institution would be the triad s largest community bank at 2 9 billion in assets. Bank of granite is based in granite falls. In 2011 the bank acquired bank of granite.

In june 2013 bank of granite merged into communityone creating a network of over 40 branches and atms. June 10 2013. And communityone bancorp jointly announced the decision to. Capital bank financial corp.

The charlotte business journal reported that communityone merged with bank of granite in 2011 a transaction led by the carlyle group to clean up the two banks distressed balance sheets.