BNC Bancorp Closes Acquisition of CertusBank Branches in South Carolina
Troutman Sanders was mentioned in an October 19 News Channel 25 article and October 20 Bloomberg Business article (and others) about BNC Bancorp (BNC), the parent company for Bank of North Carolina (the “Bank”), announcing that the Bank had completed its acquisition from CertusBank, N.A. (“Certus”) of customer deposits, loans and seven branches of Certus’ South Carolina banking operation. The Bank assumed approximately $175 million in customer deposits and acquired approximately $188 million in loans.
Per the article, “the transaction expands the Bank’s concentration in the Upstate Region, one of the fastest growing and most dynamic regions in the Southeast and one where further expansion has been a high priority for the Bank.”
Troutman Sanders’ partner James Stevens and associate Brendan Thomas provided legal counsel to BNC Bancorp in the deal.