Bank of Wilmington in North Carolina is renaming itself Cape Fear Bank to reflect its recent expansion outside its hometown.
Founded in Wilmington in 1998, the bank has opened branches in Surf City, Hampstead, and Leland since early 2004. Shareholders voted for a name change at the parent company's annual meeting in May, Cameron Coburn, the chairman, president, and chief executive of the bank and its holding company, Bank of Wilmington Corp., said Tuesday in a press release.
"As we expanded within the Lower Cape Fear region beyond Wilmington, we felt that our name should accurately reflect the larger community we serve," Mr. Coburn said.
The $397 million-asset bank said the name change would take effect Oct. 1. The company's stock ticker symbol, currently BKWW, would change to CAPE.
