The company has agreed to pay $89 million for Premier Commercial Bancorp. The acquisition would significantly increase its branch presence and lending in the Portland area.
Spirit Community Bank is being planned in Statesville, a community located about 45 miles north of Charlotte. A separate set of organizers has already shared plans to open a bank east of Charlotte.
The nonprofit is turning to banks and social impact investors to support a newly created fund designed to significantly increase the size of its loan portfolio over five years.
While the $632 million-asset nbkc bank was the smallest known participant in the recent round of funding for Greenlight, the investment wasn't its first foray into fintech.
Organizers aiming to open a de novo just outside Charlotte say there's a need for a new community bank after several years of consolidation in the market.
