Bank of North Carolina Announces Strategic Branch Consolidations

Nov 23, 2011, 08:06 ET from BNC Bancorp

THOMASVILLE, N.C., Nov. 23, 2011 /PRNewswire/ -- Bank of North Carolina, a wholly-owned subsidiary of BNC Bancorp (Nasdaq: BNCN), announced the consolidation of four of the ten Blue Ridge Savings Bank branches recently acquired with the Federal Deposit Insurance Corporation ("FDIC").  

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The restructuring of the four branches include: Stanley, Fletcher, West Asheville, North Carolina and Greer, South Carolina. This move will free up some expense that can be more efficiently deployed to expand the full array of products and services, both retail and commercial, in the new Western North Carolina footprint.

"The comprehensive evaluation of our branches is an opportunity to ensure we are making the best decisions for our customers, employees, shareholders and community.  We will continue to analyze growth opportunities and make tactical decisions to strengthen the Bank's success," commented Bank of North Carolina President & Chief Operating Officer, Richard D. Callicutt.

Callicutt added, "We continually evaluate each of our markets to maintain our vision for a results-oriented institution with a focus on our customers and communities.  Our intent is to achieve higher levels of performance and efficiency while maximizing value for our Company. We have worked closely with the FDIC to insure that each of the customers in these offices will continue to have convenient access to other Bank of North Carolina branches. "

Bank of North Carolina expects the affected branches to be closed by the end of fourth quarter.