CommunityOne Bank

Last updated
CommunityOne Bancorp
Company type Public
Nasdaq: COB
Industry Banking
FoundedJanuary 14, 1908;116 years ago (1908-01-14)
DefunctOctober 26, 2016;7 years ago (2016-10-26)
FateAcquired by Capital Bank Financial
Headquarters Charlotte, North Carolina
Key people
Robert L. Reid (CEO & president)
David L. Nielsen (CFO)
Total assets Increase2.svg $2.397 billion (2015)
Total equity Decrease2.svg $0.273 billion (2015)
Number of employees
544 (2015)
Website community1.com   OOjs UI icon edit-ltr-progressive.svg
Footnotes /references
[1]

CommunityOne Bancorp was a bank headquartered in Charlotte, North Carolina. In 2016, it was acquired by Capital Bank Financial.

History

The First National Bank of Asheboro began operations January 14, 1908.

In 1976, the bank changed its name to First National Bank of Randolph County.

In 1985, FNB Corporation was formed as a bank holding company. [2]

In 1990, the company changed its name to First National Bank and Trust Company.

In 2000, the company acquired Richmond Savings Bank of Richmond County, North Carolina. It was First National Bank's first foray outside of the Randolph County area. [3]

In 2003, the company acquired Dover Mortgage Company.

In 2004, the company acquired Rowan Savings Bank of Rowan County, North Carolina. [4] [5]

In 2005, the company acquired Alamance Bank of Alamance County, North Carolina. [6] [7]

In 2006, the company acquired First Gaston Bank of Gaston County, North Carolina. [8]

In 2006, the bank holding company changed its name to FNB United Corp.

In 2007, the bank changed its name to CommunityOne. [9]

On April 27, 2011, the company agreed to pay $400,000 in restitution to victims of a ponzi scheme by a depositor at the bank. [10]

In 2011, the bank acquired Bank of Granite. In conjunction with the transaction, the bank raised $310 million of capital, including $79 million from each of The Carlyle Group and Oak Hill Capital Partners. [11]

In 2013, the bank holding company changed its name to CommunityOne Bancorp. [12]

In 2016, the bank was acquired by Capital Bank Financial. [13]

Related Research Articles

<span class="mw-page-title-main">U.S. Bancorp</span> American bank holding company

U.S. Bancorp is an American bank holding company based in Minneapolis, Minnesota, and incorporated in Delaware. It is the parent company of U.S. Bank National Association, and is the fifth largest banking institution in the United States. The company provides banking, investment, mortgage, trust, and payment services products to individuals, businesses, governmental entities, and other financial institutions. As of 2019, it had 3,106 branches and 4,842 automated teller machines, primarily in the Western and Midwestern United States. In 2023 it ranked 149th on the Fortune 500, and it is considered a systemically important bank by the Financial Stability Board. The company also owns Elavon, a processor of credit card transactions for merchants, and Elan Financial Services, a credit card issuer that issues credit card products on behalf of small credit unions and banks across the U.S.

<span class="mw-page-title-main">PNC Financial Services</span> Major bank based in Pittsburgh

The PNC Financial Services Group, Inc. is an American bank holding company and financial services corporation based in Pittsburgh, Pennsylvania. Its banking subsidiary, PNC Bank, operates in 27 states and the District of Columbia, with 2,629 branches and 9,523 ATMs. PNC Bank is on the list of largest banks in the United States by assets and is one of the largest banks by number of branches, deposits, and number of ATMs.

<span class="mw-page-title-main">Truist Financial</span> Banking company in the U.S.

Truist Financial Corporation is an American bank holding company headquartered in Charlotte, North Carolina. The company was formed in December 2019 as the result of the merger of BB&T and SunTrust Banks. Its bank operates 2,781 branches in 15 states and Washington, D.C., offering consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services. It is on the list of largest banks in the United States by assets; as of August 2023, it is the 9th largest bank with $514 billion in assets. As of January 2021, Truist Insurance Holdings is the seventh largest insurance broker in the world, with $2.27 billion in annual revenue.

TD Banknorth, formerly Banknorth, was a wholly owned subsidiary of the Toronto-Dominion Bank which conducted banking and insurance activities, primarily serving the northeastern area of the United States, headquartered in Portland, Maine. The bank became TD Bank, N.A. on May 31, 2008.

Yadkin Financial Corporation was a bank holding company and the parent of Yadkin Bank, a defunct regional bank with $7.3 billion in assets and 110 branches in North and South Carolina before the 2017 purchase by FNB Corporation of Pittsburgh. The bank was headquartered in Elkin, North Carolina.

<span class="mw-page-title-main">Independent Bank (Michigan)</span> American Bank

Independent Bank is a bank headquartered in Grand Rapids, Michigan. The bank has 62 branches, all of which are in Michigan.

<span class="mw-page-title-main">New York Community Bank</span> US Bank

New York Community Bancorp, Inc. (NYCB), headquartered in Hicksville, New York, is a bank holding company for Flagstar Bank. In 2023, the bank operated 395 branches in New York, Michigan, New Jersey, Ohio, Florida, Arizona and Wisconsin. Branches used to be operated under the names Queens County Savings Bank, Roslyn Savings Bank, Richmond County Savings Bank, Roosevelt Savings Bank, and Atlantic Bank in New York; Garden State Community Bank in New Jersey; Ohio Savings Bank in Ohio; and AmTrust Bank in Arizona and Florida. However, they rebranded all of these under the Flagstar name on February 21, 2024. NYCB is on the list of largest banks in the United States and is one of the largest lenders in the New York City metro area.

First Niagara Bank was a Federal Deposit Insurance Corporation-insured regional banking corporation headquartered in Buffalo, New York. Its parent company, First Niagara Financial Group, Inc. was the 44th-largest bank in the United States with assets of over $37.1 billion as of June 30, 2013.

<span class="mw-page-title-main">First Citizens BancShares</span> American financial services company

First Citizens Bancshares, Inc. is a bank holding company based in Raleigh, North Carolina. Its primary subsidiary is First Citizens Bank, which operates over 500 branches in 23 states and is one of the largest banks in the United States.

FNB Corporation is a diversified financial services corporation based in Pittsburgh, Pennsylvania, and the holding company for its largest subsidiary, First National Bank. As of March 28, 2024, FNB has total assets of nearly $46 billion. FNB's market coverage spans several major metropolitan areas including: Pittsburgh, Pennsylvania; Baltimore, Maryland; Cleveland, Ohio; Washington, D.C.; Charlotte, Raleigh, Durham and the Piedmont Triad in North Carolina; and Charleston, South Carolina with approximately 350 offices. The company has approximately 4,200 employees.

<span class="mw-page-title-main">Independence Savings Bank</span>

Independence Community Bank was a bank based in Brooklyn, New York. In 2006, the bank was acquired by Santander Bank.

Premier Financial Corp., headquartered in Defiance, Ohio, is the holding company for Premier Bank. Premier Bank, headquartered in Youngstown, Ohio, operates 76 branches and 9 loan offices in Ohio, Michigan, Indiana and Pennsylvania and serves clients through a team of wealth professionals dedicated to each community banking branch. For more information, visit the company’s website at PremierFinCorp.com.

<span class="mw-page-title-main">NewBridge Bank</span> Defunct American bank

NewBridge Bank was a banking company based in Greensboro, North Carolina, with locations in North Carolina and Virginia. It no longer operates under that name. The company formed from the merger of Lexington State Bank and FNB Southeast in November 2007. NewBridge Bank was the banking subsidiary of NewBridge Bancorp. NewBridge Bank had 44 branches, total assets of about $2.7 billion and total deposits of about $2 billion. Its branches were mainly centered on the North Carolina regions of the Piedmont Triad and the Lower Cape Fear.

<span class="mw-page-title-main">United Community Bank</span> Bank holding company

United Community Banks, Inc. is an American bank. United is one of the largest full-service financial institutions in the Southeast, with $25.9 billion in assets, and 161 offices in Alabama, Florida, Georgia, North Carolina, South Carolina and Tennessee.

Park Sterling Bank, was a bank based in Charlotte, North Carolina. It had $3.3 billion in assets and branches in North and South Carolina, Virginia and Georgia. The parent company was Park Sterling Corp.. A merger with South State Bank was completed November 30, 2017.

<span class="mw-page-title-main">PacWest Bancorp</span> American bank holding company

PacWest Bancorp is an American bank holding company based in Beverly Hills, California, with one wholly owned banking subsidiary, Pacific Western Bank. It is a subsidiary of Banc of California.

<span class="mw-page-title-main">Glacier Bancorp</span> U.S. banking company

Glacier Bancorp, Inc. is a regional multi-bank holding company headquartered in Kalispell, Montana, United States. It is a successor corporation to the Delaware corporation originally incorporated in 1990. The company provides personal and commercial banking services from 221 locations in Montana, Idaho, Utah, Washington, Wyoming, Colorado, Arizona, and, Nevada.

INB Financial Corporation was an Indianapolis-based statewide bank holding company that was the largest Indiana-based financial institution at the time it was acquired by Michigan-based NBD Bancorp in 1992. Its primary subsidiary was the Indianapolis-based INB National Bank, formerly the Indiana National Bank, which can trace its origins to the founding of the Second State Bank of Indiana in 1834.

<span class="mw-page-title-main">SouthState Bank</span> American bank

SouthState Bank, based in Winter Haven, Florida, is an American bank based in Florida and a subsidiary of SouthState Corporation, a bank holding company. As of December 31, 2018, the company had 168 branches in South Carolina, North Carolina, Georgia, Florida, Alabama and Virginia.

OceanFirst Bank, N.A. is a regional bank subsidiary of the U.S. financial services holding company OceanFirst Financial Corp founded and headquartered in Ocean County, New Jersey, with operations throughout New Jersey, and in the major metropolitan markets of Philadelphia, New York City, Baltimore, and Boston.

References

  1. "CommunityOne Bancorp 2015 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. "Institution History for COMMUNITYONE BANCORP (1133473)". Federal Financial Institutions Examination Council.
  3. "Institution History for DOWNTON ROCKINGHAM BRANCH (796974)". Federal Financial Institutions Examination Council.
  4. "FNB Corp., Rowan Bancorp complete mergern". American City Business Journals . August 2, 2002.
  5. "Institution History for CHINA GROVE BRANCH (396879)". Federal Financial Institutions Examination Council.
  6. "FNB Corp. and United Financial Complete Merger" (Press release). Business Wire. November 4, 2005.
  7. "Institution History for SOUTH GRAHAM BRANCH (2730356)". Federal Financial Institutions Examination Council.
  8. "Institution History for GASTONIA BRANCH (2317645)". Federal Financial Institutions Examination Council.
  9. "First National, Catawba Valley, First Gaston and Northwestern Banks to Have a New Name, CommunityONE" (Press release). Business Wire. May 18, 2007.
  10. "North Carolina Bank Agrees to Pay $400,000 in Restitution to Victims of Investment Fraud Scheme It Failed to Detect and Report" (Press release). United States Department of Justice. April 27, 2011.
  11. "FNB United Corp. Completes Acquisition of Bank of Granite Corporation" (Press release). GlobeNewswire. October 24, 2011.
  12. "FNB United Announces Name Change and New Stock Symbol" (Press release). GlobeNewswire. June 28, 2013.
  13. Burns, Hilary (October 26, 2016). "Capital Bank closes acquisition of CommunityOne". American City Business Journals .