North Carolina has first new bank since the financial crisis

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American Bank & Trust in Monroe, N.C., has become the first bank to open in North Carolina since the financial crisis.

The bank opened on Monday after organizers raised $22.5 million. The group plans to keep selling shares of common stock through June 30.

“We are excited to bring community banking back to Union County, where it has a proud tradition going back decades,” Randy Aycock, the bank’s president and CEO, said in a press release.

“We are committed to being the bank of choice in our market area for customers who are looking for a higher level of service and an alternative to the big bank experience,” Aycock added.

The bank was advised by Randy Helton of Helton Advisors and Tony Gaeta of Gaeta Consulting. Wyrick Robbins Yates & Ponton provided legal counsel to organizers.

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