North American Financial Holdings Inc. of Charlotte, N.C., last week merged TIB Bank into its flagship NAFH National Bank.

TIB Financial Corp. in Naples, Fla., which is 97% owned by North American, disclosed the merger in a Tuesday filing with the Securities and Exchange Commission. North American bought its stake in the $1.7 billion-asset company in June.

The merger is part of a multibank consolidation. North American has used its NAFH Bank to buy three failed banks over the past year.

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