Citizens Bancshares in Olanta, S.C., has agreed to buy a branch in Laurinburg, N.C., from First Capital Bancshares in Charleston, S.C.
The $1 billion-asset Citizens said in a press release that it will gain some deposits and loans when it buys the location from the $1 billion-asset First Capital. The deal is expected to close in the fourth quarter. The price wasn’t disclosed.
“We take the responsibility to continue First Capital Bank’s legacy of being the hometown community bank very seriously and believe this transaction is in alignment with The Citizens Bank’s history of providing local community banking to the markets we serve,” Thomas Bouchette, Citizens’ president, said in the release.
Pending regulatory approval, the Transaction is expected to close in the fourth quarter of 2025. Customers of the branch will receive additional information regarding the Transaction in the coming weeks.
Performance Trust Capital Partners and Wyrick Robbins Yates & Ponton advised First Capital. Piper Sandler & and Nelson Mullins Riley & Scarborough advised Citizens.