BNC Bancorp to Buy CertusBank Branches in U.S. Carolinas Expansion
Troutman Sanders was mentioned in multiple June 1 articles – American Banker, M&A Navigator, SNL, Triad Business Journal – about BNC Bancorp (BNC), the parent company for the Bank of North Carolina (the “Bank”), announcing that the Bank has entered into a definitive agreement with CertusBank, N.A. (Certus), pursuant to which the Bank has agreed to purchase approximately $284 million in customer deposits, approximately $210 million in loans, and seven branch offices of Certus’ South Carolina banking operation. The completion of the transaction is subject to customary closing conditions, including regulatory approvals, and is expected to be completed in the fourth quarter of 2015.
Troutman Sanders’ partner James Stevens and associate Brendan Thomas provided legal counsel to BNC Bancorp.