American Community Bancshares Inc. of Charlotte is consolidating its charters and merging its South Carolina subsidiary, which it acquired last year, into its lead bank.
Processing Content
First National Bank's four branches will be converted to American Community Bank branches Friday, the $409 million-asset company said last week. The charters are being combined to reduce regulatory costs, American Community said.
American Community bought First National's parent, the $76 million-asset FNB Bancshares Inc. of Gaffney, S.C., in April.
