CommunityOne Bank

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CommunityOne Bancorp
Industry Banking
Fate Acquired by Capital Bank Financial
Founded January 14, 1908; 110 years ago (1908-01-14)
Defunct October 26, 2016; 19 months ago (2016-10-26)
Headquarters Charlotte, North Carolina
Key people
Robert L. Reid, CEO & President
David L. Nielsen, CFO
Total assets Increase $2.397 billion (2015)
Total equity Decrease $0.273 billion (2015)
Number of employees
544 (2015)
Footnotes / references
[1]

CommunityOne Bank was a bank headquartered in Charlotte, North Carolina. In 2016, it was acquired by Capital Bank Financial.

History[edit]

The First National Bank of Asheboro began operations January 14, 1908.

In 1976, the bank changed its name to First National Bank of Randolph County.

In 1985, FNB Corporation was formed as a bank holding company.[2]

In 1990, the company changed its name to First National Bank and Trust Company.

In 2000, the company acquired Richmond Savings Bank of Richmond County, North Carolina.[3]

In 2003, the company acquired Dover Mortgage Company.

In 2004, the company acquired Rowan Savings Bank of Rowan County, North Carolina.[4][5]

In 2005, the company acquired Alamance Bank of Alamance County, North Carolina.[6][7]

In 2006, the company acquired First Gaston Bank of Gaston County, North Carolina.[8]

In 2006, the bank holding company changed its name to FNB United Corp.

In 2007, the bank changed its name to CommunityOne.[9]

On April 27, 2011, the company agreed to pay $400,000 in restitution to victims of a ponzi scheme by a depositor at the bank.[10]

In 2011, the bank acquired Bank of Granite. In conjunction with the transaction, the bank raised $310 million of capital, including $79 million from each of The Carlyle Group and Oak Hill Capital Partners.[11]

In 2013, the bank holding company changed its name to CommunityOne Bancorp.[12]

In 2016, the bank was acquired by Capital Bank Financial.[13]

References[edit]

  1. ^ "CommunityOne Bancorp 2015 Form 10-K Annual Report". U.S. Securities and Exchange Commission. 
  2. ^ "Institution History for COMMUNITYONE BANCORP (1133473)". Federal Financial Institutions Examination Council. 
  3. ^ "Institution History for DOWNTON ROCKINGHAM BRANCH (796974)". Federal Financial Institutions Examination Council. 
  4. ^ "FNB Corp., Rowan Bancorp complete mergern". American City Business Journals. August 2, 2002. 
  5. ^ "Institution History for CHINA GROVE BRANCH (396879)". Federal Financial Institutions Examination Council. 
  6. ^ "FNB Corp. and United Financial Complete Merger" (Press release). Business Wire. November 4, 2005. 
  7. ^ "Institution History for SOUTH GRAHAM BRANCH (2730356)". Federal Financial Institutions Examination Council. 
  8. ^ "Institution History for GASTONIA BRANCH (2317645)". Federal Financial Institutions Examination Council. 
  9. ^ "First National, Catawba Valley, First Gaston and Northwestern Banks to Have a New Name, CommunityONE" (Press release). Business Wire. May 18, 2007. 
  10. ^ "North Carolina Bank Agrees to Pay $400,000 in Restitution to Victims of Investment Fraud Scheme It Failed to Detect and Report" (Press release). United States Department of Justice. April 27, 2011. 
  11. ^ "FNB United Corp. Completes Acquisition of Bank of Granite Corporation" (Press release). GlobeNewswire. October 24, 2011. 
  12. ^ "FNB United Announces Name Change and New Stock Symbol" (Press release). GlobeNewswire. June 28, 2013. 
  13. ^ Burns, Hilary (October 26, 2016). "Capital Bank closes acquisition of CommunityOne". American City Business Journals.