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Dozens of insurers have sold off their banks in recent years, with just a handful choosing to remain in the business. Mutual of Omaha Bank is committed to building a traditional community banking culture with its parent company's backing.
July 11 -
Carolina Financial in Charleston, S.C., has agreed to acquire 13 branches in the Carolinas and additional assets from First Community Bancshares in Bluefield, Va.
August 7
Mutual of Omaha Bank
A purchase price was not announced for the deal, which is expected to close in October.
The acquisition allows CIC to strengthen its presence in the Denver metropolitan area. All five branches are located in the far western outskirts of the city.
"We are excited about this opportunity to expand our banking network in the Front Range of Colorado and selective mountain communities," Kevin Ahern, chief executive of CIC, said in a press release Friday.
When the deal closes, the $6.5 billion-asset Mutual of Omaha will only
CIC Bancshares, which has $470 million in assets, is the parent company of Centennial Bank.
River Branch Capital advised both banks on the deal.
