Tuesday, April 1, 2014

BNC Bancorp completes acquisition of South Street Financial

The parent company of Bank of North Carolina said Tuesday that it has completed its acquisition of South Street Financial Corp., a $26 million deal that gives BNC Bancorp a deeper presence in the Charlotte area.

BNC announced the deal to acquire the parent company of Home Savings Bank of Albemarle in December. The bank has about $278 million in assets and $235 million in deposits primarily in Stanly and Montgomery counties.

Its branches will keep the Home Savings Bank name until June, when the conversion is complete, BNC said Tuesday.


Anonymous said...

Watch out customers and employees!!
You may have a big surprise in May, they do not always do as they say.