N.C.-based BNC Bank opened a new retail location in Augusta Village on Augusta Street last week.
“We’ve been interested in the Augusta Road market for a couple of years and the opportunity came available to occupy the location in a former institution,” said Charles Eldridge, Greenville market president. “We couldn’t pass that up.”
The space at 1818 Augusta St. was previously occupied by First Federal Bank. BNC has one other Greenville location on McBee Avenue. Eldridge said more Upstate branches are expected as opportunities arise but there is no definite timeline. The bank has 39 full-service banking offices in the Carolinas.
BNC Bank’s parent company, BNC Bancorp, recently announced it will acquire North Carolina banks South Street Financial Corp. for $23.7 million and Community First Financial Corp. for $24.2 million in stock deals. According to BNC Bancorp, the two transactions provide approximately $275 million and $228 million in assets in the Charlotte and Raleigh-Durham-Chapel Hill markets. The acquisitions are expected to close in the second quarter of 2014.
BNC Bancorp’s stock was the highest-performing bank stock in the Southeast United States, according to a recent study by Banks Street Partners.
