South Carolina

The Los Angeles-based subsidiary of Royal Bank of Canada is elbowing into fast-growing North Carolina and South Carolina with a strategy focused on middle market banking.

The buyer, which is based in North Carolina, said buying GrandSouth Bancorp would give it more than $1 billion of assets and eight branches in South Carolina.

The South Carolina credit union has pivoted to an open-concept model that allows for social distancing, along with a walk-up window to serve members outside the branch if lobby access is restricted for any reason.

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.

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.

A deal bringing Charleston County Teachers Federal Credit Union into the fold is South Carolina Federal’s third acquisition of 2020.

The South Carolina company has agreed to buy the parent of Security Federal Bank.

SC Telco Federal Credit Union and Anderson FCU will adopt the name Spero Financial once their merger takes effect early next year.

The South Carolina-based credit union will buy two locations from Arkansas-based Bank OZK as it moves to exit the Palmetto State.

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.

The Greenville, S.C.-based institution will gain three branches and about $100 million in assets if members of Anderson Federal Credit Union approve the transaction.

The $1.8 billion-asset institution will likely absorb Spartanburg City Employees FCU later this year, following a vote of that CU's members next month.

With schools across South Carolina closed until the end of April, the credit union is offering a perk for parents who can't do their jobs remotely.

The companies spent much of the past decade completing smaller deals that created complementary footprints in the Southeast.

Brian McKay will lead the Greensville, S.C.-based credit union beginning in April

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.

The deal will create a bank with $34 billion in assets and operations stretching from Virginia to Florida.

The latest dividend brings the credit union's member returns to more than $32 million in 23 years.

Five years after rebranding as a growth strategy, small Turbine FCU has been approved to merge into Durham, N.C.-based Self-Help Credit Union.

Absorbing Health Facilities FCU will deepen S.C. Federal's presence in the city of Florence.