Banks Bank of North Carolina completes takeover of Regent Bank, South Carolina, USA
Bank of North Carolina ("BNC"), a wholly-owned subsidiary of BNC Bancorp, has completed the takeover of Regent Bank, South Carolina ("Regent Bank-SC"), a federal savings association in South Carolina and a wholly-owned subsidiary of Regent Bancorp, Inc., a Florida corporation.
The acquisition was completed on and effective from 31 December, 2011.
BNC expects the transaction to be immediately accretive to net income and earnings per share, excluding estimated one-time and merger-related costs. Bank of North Carolina operates its South Carolina operations as BNC Bank.
The closing of the Regent transaction marks the second acquisition closed by BNC in the fourth quarter of 2011, the other being Blue Ridge Savings Bank, Inc. in Asheville, North Carolina, in a FDIC assisted-transaction on 14 October, 2011.
Blue Ridge had USD168.5 million in total assets at acquisition.
On 21 December, 2011, BNC announced the signing of a definitive agreement to acquire KeySource Financial, Inc. in Durham, North Carolina, a one-bank holding company with USD206 million in total assets.
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