Friday, January 22, 2016 09:00 AM

RALEIGH’S CAPITAL BANK CONSIDERING HEADQUARTERS MOVE TO CHARLOTTE

Raleigh-based Capital Bank is weighing a relocation to Charlotte once it receives regulatory approval for its planned acquisition of CommunityOne Bancorp, officials said Wednesday.

CommunityOne, a bank holding company that moved its headquarters to Charlotte from Asheboro in 2013, announced the acquisition in November. At that time, company officials said no decisions had been made on headquarters for the combined company.

Chris Marshall, chief financial officer for Capital Bank, told the Observer in an interview Wednesday that Raleigh and Charlotte are in the running. But he said there won’t be any determination until regulators have ruled on the acquisition.

“That’s something we will consider more seriously after we have regulatory approval,” Marshall said. “Charlotte will get serious consideration.”

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The roughly $350 million purchase is expected to close in the first quarter. The deal will form a bank with nearly $10 billion in assets.

If Charlotte is picked as headquarters, Capital Bank would be the second-biggest bank based here by assets, behind Bank of America. Marshall said Capital Bank would have roughly 2,000 employees after the acquisition.

Charlotte has been home for Marshall and Gene Taylor, Capital Bank’s CEO and chairman, since the former Bank of America executives launched their company in 2009 to ...

News source: http://www.newsobserver.com/news/business/article55804495.html

See also: Wake Opthalmology