Centura Banks Inc. said it has completed its purchase of a 49% stake in First Greensboro Home Equity Corp.

First Greensboro is a privately owned company specializing in alternative equity lending for homeowners and creative financing for homebuyers. It originates, purchases, and sells residential home equity loans secured primarily by first liens. Its clients are people whose borrowing needs are generally not met by traditional financial institutions, Centura said.

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