Tuesday, April 10, 2012

Capital Bank posts $5.3 million profit

The company founded by former Bank of America executives to buy up troubled banks posted a profit of $5.3 million in 2011, the bank said Monday.

Capital Bank Corp. is based in Raleigh, and is a subsidiary of Capital Bank Financial Corp. It was founded in 2009 by Gene Taylor and Chris Marshall. At that point, it was called North American Financial Holdings.

The company has bought seven banks in the past two years, including last month's announcement that it is acquiring Southern Community Financial Corp.

Capital Bank has 143 branches in five states.