South Carolina

CertusBank in Greenville, S.C., has agreed to sell its mortgage and wealth businesses as it tries to move past its history of high expenses and heavy losses.

An investor has filed a lawsuit to block the merger deal between the two First Citizens banks in the Carolinas, which are controlled by the Holding family. The case could turn on whether the directors on the special committees that reviewed the deal were truly independent of the Holdings.

Nearly six months after some CertusBank investors demanded a total management overhaul, the Greenville, S.C., company elected six new board members at an annual meeting last week. Yet investors remain very concerned about the company's ongoing losses and capital levels, new Chairman John Poelker says.

Carolina Financial in Charleston, S.C., has agreed to acquire 13 branches in the Carolinas and additional assets from First Community Bancshares in Bluefield, Va.

Carolina Alliance Bank in Spartanburg, S.C., has agreed to buy the operations of a local commercial leasing office.

The troubled Greenville, S.C., bank lost $15 million in the second quarter, its first quarterly results since a new management team replaced the three founders who were fired in April. Moreover, local NAACP leaders have raised concerns about the firings, which they say sent a toxic message to the local African-American community.

South State reported higher second quarter earnings compared to last year, as the Columbia, S.C., company expanded through the combination of SCBT and First Financial Holdings.

Banks want to offer short-term consumer loans but regulatory constraints make it difficult. Credit unions are piling into this line of business. It all translates into a rare opportunity for traditional nemeses to cooperate.

Independence Bancshares (IEBS) in Greenville, S.C., will need to raise more capital to fund its development of new payments platforms.

United Community Banks (UCBI) in Blairsville, Ga., has acquired Business Carolina, a commercial lender in Columbia, S.C.

First Community Bank in Lexington, S.C., has agreed to acquire First South Bank's deposits in Columbia and some loans for approximately $800,000.

The $7.4 billion-asset company announced this week that it is planning a branch in Greenville, S.C.

The Holding family has held large stakes in several banks for years; two of those banks are finally merging as part of a $637 million deal.

The North Carolina company will pay more than $637 million for First Citizens Bancorp., a South Carolina bank. Both companies are majority owned by the Holding family.

BNC Bancorp (BNCN) in High Point, N.C., has agreed to buy Harbor Bank Group in Charleston, S.C.

COLUMBIA, S.C. — VARO No. 319 FCU is set to merge with Carolina Collegiate FCU, following a vote by VARO's members, the two credit unions announced Tuesday.

CertusBank fired its founders for providing inaccurate budgets and for failing to devise a strategy after its failed-bank deals dried up, the Greenville, S.C., company said in court filings.

Subpoenas have been issued by South Carolina's Attorney General's Office in connection to allegations of financial mismanagement by former executives of CertusBank.

CertusBank in Greenville, S.C., has hired a new internal auditor and promoted eight other executives as it reorganizes management weeks after the ouster of its top executives.

CertusBank in Greenville, S.C., continues to lose money, largely because of high expenses. The $1.6 billion-asset company lost $9 million in the first quarter, according to a call report filed with the Federal Deposit Insurance Corp.