News Topic: South Carolina
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Pandemic leads Sharonview FCU to rethink branch layout, features
REV Federal Credit Union gears up for double merger
Members of two smaller institutions will soon vote on whether to join South Carolina-based REV, boosting its assets by 15% and giving it a foothold in North Carolina. ... Read full article
Tiny South Carolina credit union is NCUA's first conservatorship of 2021
CO Federal Credit Union, which has $4.5 million in assets and serves just 785 members, was conserved due to unsafe and unsound practices, the regulator said. ... Read full article
SC Federal’s merger wave continues
A deal bringing Charleston County Teachers Federal Credit Union into the fold is South Carolina Federal’s third acquisition of 2020. ... Read full article
Community First plans to enter Tennessee with SFB acquisition
The South Carolina company has agreed to buy the parent of Security Federal Bank. ... Read full article
Bank OZK exits another state by selling branches
The Arkansas bank is selling two South Carolina branches to a credit union just two weeks after announcing plans to divest its branches in Alabama. ... Read full article
CenterState, South State took parallel paths to a merger
The companies spent much of the past decade completing smaller deals that created complementary footprints in the Southeast. ... Read full article
Banks find a cheat code to catch up on digital: Merging
CenterState and South State are the latest regionals to announce a deal driven heavily by the need to compete with larger banks that can afford to spend more on cutting-edge technologies. ... Read full article
CenterState, South State plan $3.2B merger
The deal will create a bank with $34 billion in assets and operations stretching from Virginia to Florida. ... Read full article
It's a seller's market in the Carolinas
United Bankshares in West Virginia was willing to pay a healthy premium for Carolina Financial, one of a dwindling number of available banks with more than $4 billion in assets. ... Read full article
United in W.Va. to make big Carolinas push with latest bank deal
The company will pay $1.1 billion for Carolina Financial in Charleston, S.C., in a deal that will add nearly $5 billion in assets. ... Read full article
North Carolina group switches plan from de novo to M&A
Skip Brown, an executive with the the Winston-Salem Banking Group, says it has signed a letter of intent to buy a community bank three months after withdrawing a charter application. ... Read full article
Carolina Financial makes bigger inland push with latest bank purchase
The company, based in Charleston, S.C., will by Carolina Trust in western North Carolina for $100 million. ... Read full article
Select Bancorp selling S.C. branch to Pickens Savings
The North Carolina company will have two branches remaining in South Carolina after the sale closes. ... Read full article
First Citizens to buy small bank in South Carolina
The North Carolina company agreed to pay $38 million in cash for First South Bancorp. ... Read full article
Wells Fargo layoffs begin with 1,000 mortgage, tech jobs
Wells Fargo will lay off 1,000 workers primarily from its mortgage unit in the first major round of a previously announced plan to cut the bank's workforce by as much as 10% over the next three years. ... Read full article
Banks across the Carolinas assess aftermath of Hurricane Florence
The storm dumped a record amount of rain on North Carolina over several days. Some sections of the coast remain off limits due to flooded highways. ... Read full article
Park in Ohio doubles down in the Carolinas with latest acquisition
The company will pay $142 million for Carolina Alliance Bank three months after buying NewDominion in Charlotte, N.C. ... Read full article
Banks in path of Hurricane Florence closing branches
With the large storm threatening coasts in Virginia and the Carolinas, some banks are planning to shutter branches for the rest of this week. ... Read full article