North Carolina

Park Sterling Corp. in Charlotte, N.C., said it expects to complete its acquisition of Community Capital Corp. in Greenwood, S.C., next week.

In a bid to raise fresh capital, ailing Waccamaw Bankshares Inc. in Whiteville, N.C., is selling eight of its branches in North Carolina and three in South Carolina to rival First Bancorp in Troy, N.C.

Piedmont Community Bank Holdings Inc. in Raleigh, N.C., said Monday that it received regulatory approval to buy a majority stake in Crescent Financial Corp. for $75 million.

FNB United Corp. has completed its acquisition of Bank of Granite Corp., part of the unprecedented merger of two ailing banks in North Carolina.

FNB United Corp.'s private-equity led buyout of a rival bank cleared another key hurdle after FNB's shareholders approved the acquisition of Bank of Granite Corp.

State regulators closed three banks along the East Coast and one in Illinois on Friday night, bringing this year's failure tally to 80.

TowneBank in Suffolk, Va., is buying a Raleigh, N.C., insurance agency and merging it into its insurance subsidiary.

As credit unions seek to grab a bigger share of deposits, State Employees' CU has become the first credit union to publicly disclose its confidential financial condition as determined by regulators–its CAMEL code.

First Citizens BancShares Inc. in Raleigh, N.C., has retired its IronStone Bank brand and converted IronStone's 58 branches into branches of its First Citizens Bank.

ECB Bancorp is set to receive nearly $80 million in capital by mid-November. The $942 million-asset company is laying out a three-pronged strategy of acquisitions, de novo branch expansion and organic growth to get to $3 billion to $5 billion in the next few years.

In what would be its first deal since creating a fund to invest in undervalued banks last year, bond giant Pacific Investment Management Co. is seeking regulatory approval to buy a roughly 20% stake in ECB Bancorp Inc. in Englehard, N.C.

Bank of North Carolina in Thomasville, N.C., announced Thursday that it is buying Regent Bank in Greenville, S.C., for $9.8 million.

First Bancorp in Troy, N.C., has received $63.5 million from the Treasury Department's small-business lending program and has used the funds to exit the agency's Troubled Asset Relief Program.

The Federal Reserve on Thursday announced two written agreements and three civil money penalties.

Waccamaw Bankshares Inc. in Whiteville, N.C., has until late September to file certain financial statements with the Securities and Exchange or else its thinly traded stock could be removed from the Nasdaq exchange.

A pair of North Carolina banks — FNB United and Bank of Granite — surprised industry observers last week, finding investors willing to commit $310 million for an arranged marriage between the struggling companies.

First Citizens BancShares Inc. in Raleigh, N.C., reported a decline in second-quarter earnings after its loan-loss provision jumped.

Security Savings Bank in Southport, N.C., said that it has hired an Atlanta firm to help it explore strategic option, including a possible sale.

Yadkin Valley Bank and Trust Co. in Elkin, N.C., has exited the wholesale mortgage business in order to better focus on retail mortgage lending.

Bank of the Carolinas Corp. fell into a deeper hole in the second quarter, posting a net loss of $9.9 million compared, to a loss of $415,000 a year earlier.