BNC Bancorp to acquire NC bank bnc bancorp, holding company for BNC Bank, announced Friday that it had signed an agreement to acquire Randolph Bank and Trust Co., worth $302 million in assets. North Carolina-based BNC operates as BNC Bank in South Carolina. The acquisition will include three branches in North Carolina, $270 million in deposits and $168 million in loans. Randolph Bank shareholders will receive cash or shares of BNC
common stock equal to $10 per share for an aggregate deal value of approximately $10.4 million. The deal is expected to close in the third quarter, leaving BNC with about $1.0 billion in loans and $1.5 billion in deposits in the Piedmont-Triad
area of central North Carolina. BNC’s expansion efforts have been ongoing. It acquired Greenville’s Regent Bank in 2011, now known as BNC Bank. Other recent acquisitions include Beach First National Bank in Myrtle Beach, Blue Ridge Savings Bank in Asheville and First Trust Bank in Charlotte. Attempts to acquire Easleybased CommunitySouth Bank and Trust and Columbia’s First Citizens and BankMeridian failed.
Palmetto Bank Wins Small Business Lending Awards the palmetto bank was among honorees at the 2013 annual meetings of Business Development Corporation (BDC) and Certified Development Corporation (CDC) in Columbia last month. “By their participation in our small business lending programs, these progressive institutions are helping South Carolina’s economy continue to grow, providing thousands of jobs and millions of dollars of investment in the economic progress of the Palmetto State each year,” said Edwin O. Lesley, president and CEO of BDC and executive vice
president of CDC, which is managed by BDC. The bank won three awards: SC CAP Top Participating Lender, SC SSBCI CAP Top Participating Lender, and SC SSBCI Loan Participation Program Top Participating Lender. In 2012 it generated 85 loans for over $12 million as part of the
small business lending programs. “We recognize that today’s business climate requires innovation and creativity in order to serve our clients. These programs are a shining example of how to execute on both of those,” said Coleman Kirven, commercial banking executive at Palmetto Bank.
Survey: SC in Small Biz Top 10 south carolina ranks ninth in the U.S. for friendliness toward small businesses, according to the results of a survey by Thumbtack. com, in partnership with the Ewing Marion Kauffman Foundation. The 2013 survey, the second annual study, finds the state improving its overall grade from B-plus to A-minus. The study draws upon data from more than 7,000 small business owners nationwide. South Carolina small businesses awarded the state an A-minus for its employment and labor regulations and an A-minus for the ease of hiring additional employees. The state also earned a B-plus for its training and networking programs. However, its health and safety regulations earned it a C-plus, as did its licensing processes. S.C.’s zoning and land use regulations earned it only a D-plus. States earning an A-plus were Utah, Alabama, New Hampshire and Idaho. Texas, Virginia, Kansas and Colorado each earned an A, while Georgia, Minnesota, and Nevada joined South Carolina in scoring A-minus. Hawaii, Maine and Rhode Island each scored an F. View all the results at thumb tack.com/survey.