'Social' Sweeteners Help Seal North Carolina Deal

Monks, Matthew
May 2012
American Banker;5/15/2012, Vol. 177 Issue 75, p2
Trade Publication
The article discusses a $78 million cash and stock deal in which Citizens South Banking agreed to sell itself to another North Carolina bank, Park Sterling. The bank merger's social concessions of preserving Citizens South's employees' jobs, keeping open a call and mortgage processing center, and making a donation to the acquired bank's charitable foundation are discussed.


Related Articles

  • REGIONAL REPORT Charlotte.  // Business North Carolina;Jul2012, Vol. 32 Issue 7, p28 

    This section offers business news briefs in Charlotte, North Carolina. Harris Teeter Supermarkets Inc. has agreed to acquire 10 stores in the Charlotte metropolitan area from Lowe's Food Stores Inc. Park Sterling Corp. will acquire Citizens South Banking Corp. BNC Bancorp of High Point, North...

  • Citizens of N.C.'s In-Store Strategy Has Twist. Osuri, Laura Thompson // American Banker;11/2/2004, Vol. 169 Issue 211, p7 

    Profiles the efforts Citizens South Bank in North Carolina to reach Hispanic-American customers. Establishment of bank branches in small grocery stores known as bodegas; Growth of the Hispanic community in North Carolina since 2000; Partnership between Citizens South Bank and Mexico's Banorte...

  • TARP Funds in NC to Help Out the Homebuilder Community. Finkelstein, Brad // National Mortgage News;2/23/2009, Vol. 33 Issue 21, p6 

    The article offers information on the Troubled Asset Relief Program (TARP) that is intended to help the homebuilder community in North Carolina. It mentions that the program is initiated by three North Carolina-based financial institutions including Citizens South Bank, BNC Bancorp, and Bank of...

  • After the deluge. Cook, Patrick // Bulletin with Newsweek;12/05/2000, Vol. 118 Issue 6253, p106 

    Presents a humorous commentary on the method of business adopted by banks in Australia. Australian prime minister's role in overseeing banks' operations; Effect of banks' business style on the Australian people; Criticisms against banks' lack of social responsibility.

  • Job and pay cuts. Wozniak, Lara // FinanceAsia;Mar2009, p1 

    The article discusses various reports published within the issue, including one on the effort of Korea to stabilise its banking sector, another on Brunei's efforts in diversifying its economy away from oil and one on Barclay's corporate social responsibility.

  • Banks cooperating to help victims of flood piece their lives together. Sullivan, Joanna // American Banker;4/28/1997, Vol. 162 Issue 80, p1 

    Reports on the cooperative effort being exhibit by the bankers from the states of North Dakota and western Minnesota in the attempt to help the victims of the Red River floodings. Banking services for flood victims; Cash donations; Liquidity problems.

  • $15M Raised for Failure Deal. Barba, Robert // American Banker;3/23/2010, Vol. 175 Issue 44, p4 

    The article reports that Citizens South Banking Corp. raised $15 million from the sale of common and preferred stock to help finance its purchase of Bank of Hiawassee.

  • Green Banking: The Next Affordable Housing? STONEMAN, BILL // American Banker;3/4/2003, Vol. 168 Issue 42, p14cb 

    Emphasizes the need for banks to invest in projects related to environmental protection. Amount invested by Ilwaco, Washington-based ShoreBank Pacific for site infrastructure; Projects invested in by Boston, Massachusetts-based Wainwright Bank & Trust Co.; Advantages of investing in...

  • All for a good cause. Law, Jennifer // Canadian Banker;Jan/Feb97, Vol. 104 Issue 1, p21 

    Focuses on Canadian banks and bankers' involvement in local communities. Renewed attitude to volunteerism; Key to creating a corporate presence in a community; Need for banks to be more inventive about the solutions they offer.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics