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Greensboro Banks: History

1903: Gate City Savings and Loan, founded. Acquired by Branch Bank and Trust Co. in April 1992.
1907: The Home Savings Bank opened with capital of $25,000. Merged into Greensboro Loan & Trust Co. Jan 1, 1914.
1907: Greensboro commercial and Savings Bank opened with capital of $200,000. Changed name to Commercial National Bank in 1908 and merged into American Exchange National Bank in 1911.
1914: 1st Home Federal. Sold to four companies, the largest portions going to CCB and BB&T in 1993.
1923: The Greensboro Joint Stock Land Bank opened with capital of $250,000. Moved to Raleigh in 1936.
1929: North Carolina Bank & Trust Co. established with capital of $4 million. This bank was result of merger of Atlantic Bank & Trust Co. and American Exchange National Bank of Greensboro, The Murchison Bank of Wilmington, Citizens Bank of Raleigh, The Bank of Rocky Mount and Rocky Mount Savings & Trust Co. Closed by banking holiday March 6, 1933 and never reopened.
1930: The North Carolina Industrial Bank organized with capital of $525,000. Closed permanently with banking holiday March 6, 1933.
1930: The Home Industrial Bank opened with capital of $125,000. Changed name in 1943 to Bank of Greensboro. Acquired by First Union National Bank of Charlotte in 1963.
Dec 30, 1931 the United Bank & Trust Company, one of Greensboro’s two commercial banks fails, reorganizes and reopens in July, 1932, and fails again on February 8, 1933.
Mar 1933: Greensboro’s second bank fails.
1933: The Security National Bank opened with capital of $750,000. Acquired Guilford National Bank in 1960 and merged with American Commercial Bank of Charlotte to become North Carolina National Bank.
1934: The Guilford National Bank opened with capital of $250,000. Merged with Security National Bank in 1960.
1945: City Industrial & Savings Bank opened with capital of $150,000. Acquired by Wachovia Bank & Trust Co. in 1956.
1950: Greensboro had four banks and two savings and loan associations, all locally owned or controlled.
1958: Mid-Carolina Bank, opened in May, acquired by the Holden brothers of Raleigh in 1959 and merged into the First Citizens Bank system in April 1961.
1959: American Federal Savings and Loan Association was founded. Merged into Mutual Community Savings Bank of Durham in 1990.
1970: Community Bank opened with capital of $1.6 million. Acquired by Southern National Bank in 1984.
1971: Greensboro National Bank opened in November, with capital of $700,000. Acquired by Mutual Community Savings Bank of Durham in September 1995.
1975: Gateway Bank opened with capital of $4 million. Merged into Northwestern Bank in 1981.
1979: Scottish Savings and Loan, opened in April. Merged into Southeastern Savings and Loan in January 1984.
1982: Triad Bank opened with capital of $2.75 million. Merged with United Carolina Bank in 1996.
1982: First American Federal Savings Bank, relocated headquarters from Asheboro to Greensbor, seized by Resolution Trust Corp. in June 1992 and liquidated.
1982: Triad Bank, opened in October. Merged with United Carolina Bancshares in 1995.
1983: Northwestern Financial Corp., relocated headquarters to Greensboro. Acquired by First Union Corp. of Charlotte, June 1985.
1986: Piedmont State Bank opened with capital of $4.5 million. Acquired by Bankers Trust of North Carolina in 1992.
1987: Bankers Trust of North Carolina opened with capital of $7.7 million. Acquired Piedmont State Bank in 1992. Acquired by Triad Bank in 1993.
1996: Carolina Savings Bank opened with capital of $7.15 million. In 1997 it switched its charter from a savings bank to a commercial bank and changed its name to The Carolina Bank.
2000: SterlingSouth Bank & Trust opened with $10 million in capital. Sold to BNC, holding company for Bank of North Carolina in 2006.
Feb/Mar 2007: Greensboro lands the headquarters for a newly merged, $2 billion regional bank. The merger of FNB Southeast, which is already based in Greensboro, and Lexington State Bank in Lexington will create the seventh-largest North Carolina-based financial institution. The company will be named NewBridge Bancorp.
Dec 2009: NewBridge Bancorp announces that its banking subsidiary NewBridge Bank plans to acquire Bradford Mortgage Co. of Winston-Salem. Bradford is a subsidiary of ACM Financial Trust. The deal is expected to close Dec. 31

Source: News & Record archive

Compiled by Diane Lamb, News & Record Researcher

DianeLamb	Latest page update: made by DianeLamb , Dec 22 2009, 10:04 AM EST (about this update About This Update Edited by DianeLamb 35 words added view changes - complete history)
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