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Four Oaks Fincorp in Four Oaks, N.C., has raised $24 million through a rights offering.
August 18 -
The Department of Justice announced a $4.9 million settlement Tuesday with CommerceWest Bank of Irvine, Calif., over charges that the bank knowingly worked with a third-party processor making illegal withdrawals from consumer bank accounts.
March 10 -
Four Oaks Bank in North Carolina has named Warren "Rocky" Herring its chief credit officer. Herring had held the same job at Premier Commercial Bank in Greensboro, N.C., before NewBridge Bancorp bought it last month.
March 18
Four Oaks Fincorp has added a pair of directors with close ties to the Four Oaks, N.C., company.
The $821 million-asset company said in a press release Friday that Kenneth Lehman, one of its biggest shareholders, and David Rupp, its chief operating officer had recently joined the board.
Lehman, who owns about 10% of the company's stock, is a former regulatory lawyer who has large investments in a number of community banks. Rupp became chief operating officer after Cliff Painter retired last September.
Four Oaks was one of the targets of the Justice Department's Operation Choke Point.
