CommunityOne Bancorp Announces Purchase of Branch in Lenoir, NC From CertusBank, N.A. CommunityOne Bank Will Assume CertusBan...
31 Marzo 2015 - 3:10PM
CommunityOne Bancorp (Nasdaq:COB), the Charlotte, North Carolina
holding company for CommunityOne Bank, N.A. ("CommunityOne"),
announced today that CommunityOne has agreed to acquire the Lenoir,
North Carolina branch of CertusBank, N.A. and assume the customer
deposits of CertusBank from its Lenoir and Granite Falls branches
in western North Carolina. This purchase, which is expected to
close in the second quarter, and is subject to regulatory approval,
will expand CommunityOne's branch network to 12 branches in the
Caldwell/Catawba area and cement its position as the second largest
community bank there.
"We are very pleased to announce this transaction," said Bob
Reid, President and CEO of CommunityOne Bank. "This purchase will
allow us to expand our presence in an important market for our bank
and provide our customers from CertusBank with expanded products
and services and the convenience of our 11 other locations in the
larger Caldwell/Catawba area. We are excited to welcome our new
customers from CertusBank and look forward to continuing a high
level of service to them as well as our existing customers in
western North Carolina."
CertusBank Chairman & CEO John S. Poelker added that "As we
planned our exit from North Carolina, our number one priority was
to partner with banks that would provide our customers with the
same high level of service they have become accustomed to with
CertusBank. We have gotten to know the great bankers at
CommunityOne Bank over the last few months and are absolutely
confident that our customers will enjoy this new relationship."
Sandler O'Neill + Partners, L.P. and Keefe, Bruyette &
Woods, Inc. acted as financial advisors to CertusBank in the
transaction and Nelson Mullins Riley & Scarborough LLP served
as CertusBank's legal counsel.
About CommunityOne Bancorp
CommunityOne Bancorp is the Charlotte, North
Carolina-based bank holding company for CommunityOne Bank, N.A.
Founded in 1907 as First National Bank of Asheboro, CommunityOne
has grown into a $2.2 billion community bank, operating 44 branches
throughout central, southern and western North Carolina, and Loan
Production Offices in Raleigh and Winston-Salem. Through its
network of branches and LPOs, CommunityOne offers a variety of
consumer, mortgage and commercial banking services to retail and
business customers, including loans, deposits, cash management,
wealth and online banking. CommunityOne Bancorp's shares are traded
on the NASDAQ stock market under the symbol, "COB."
Forward-Looking Statements
This news release may contain forward-looking statements
regarding future events. Forward-looking statements often address
our expected future business and financial performance, and often
contain words such as "expect," "anticipate," "intend," "plan,"
"believe," "seek," or "will." These statements are only predictions
and are subject to risks and uncertainties that could cause the
actual events or results to differ materially. These risks and
uncertainties include risks of managing our growth, changes in
financial markets, changes in real estate markets, regulatory
changes, changes in interest rates, changes in economic conditions
being less favorable than anticipated, and loss of deposits and
loan demand to other financial institutions. Additional information
concerning factors that could cause actual results to be materially
different from those in the forward-looking statements is contained
in CommunityOne Bancorp's filings with the Securities and Exchange
Commission. CommunityOne Bancorp does not assume any obligation to
update these forward-looking statements or to update the reasons
why actual results could differ from those projected in the
forward-looking statements.
CONTACT: For more information:
Pam Cranford: 336-626-8300
investorrelations@community1.com
For press inquiries:
Kim Graham: 980-819-6278
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