CFO of 1st Financial Services in N.C. to Resign

By Chris Cumming September 03, 2013, 4:44 p.m. EDT 1 Min Read

Holly Schreiber will step down Wednesday as chief financial officer of 1st Financial Services in Hendersonville, N.C. She will remain as a consultant while its sale to First Citizens BancShares (FCNCA) is being completed.

Schreiber announced her plans to leave in early August, saying she wanted to move closer to her family, the $692 million-asset company said in a regulatory filing. She will also step down as the CFO of 1st Financial's banking unit, Mountain 1st Bank & Trust.

First Citizens, in Raleigh, agreed last week to acquire 1st Financial for $10 million, which includes $8 million to repay 1st Financials Troubled Asset Relief Program aid. The deal is scheduled to close by March 31.

Schreiber will remain as a consultant until the deal closes, or for seven months, whichever is sooner.

Schreiber has been CFO at 1st Financial since 2010. Previously she had been the CFO at Coastal Carolina National Bank.

Chris Cumming

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