North American Financial Holdings Inc. has informed its equity investors that it is thinking about consolidating all its recent bank purchases.
North American, which recently bought an 83% stake in Capital Bank Corp. of Raleigh, N.C., is seeking regulatory approval to combine its three bank units and possibly the holding companies, according to a Capital filing with the Securities and Exchange Commission.
North American has planned to use the $1.6 billion-asset bank to pursue other acquisitions. It also bought most of TIB Financial Corp. in Naples, Fla., and several failed Florida banks through NAFH National Bank.
The company said in Friday's filing that "no assurances can be given that applicable regulatory approvals will be obtained, that the transactions described above will be consummated, or if consummated, as to the timing, price, structure or other terms of the transactions."
