Capital Bank Financial said to weigh a sale after approach

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Capital Bank Financial in Charlotte, N.C., is working with advisers to explore a sale after receiving an unsolicited approach, people familiar with the matter said.

The lender has begun reaching out to potential buyers, the people said, asking not to be identified as the deliberations are private. The talks are at an early stage and no final decisions have been made. Capital Bank has a market value of about $2.1 billion.

A representative for Capital Bank didn't immediately return a call seeking comment.

Capital Bank jumped 11 percent in early trading. The company's shares rose 15 cents to close at $40.90 in New York on Tuesday, bringing the gain to about 36 percent in the previous 12 months.

Capital Bank operates in the Southeast, with about 200 branches in Florida, Tennessee, Virginia and the Carolinas, according to its website. It completed a deal to buy CommunityOne Bancorp last year, valued at about $350 million, which gave it additional branches in North Carolina.

Bloomberg News
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