Greensboro's NewBridge Bank Announces Merger

10:11 AM, Nov 1, 2013   |    comments
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GREENSBORO, N.C. -- Two North Carolina banks will unite as one.

Greensboro-based NewBridge Bank announced Friday it will merge with Raleigh-based CapStone Bank. The two banks will operate under the NewBridge Bank name, and will remain headquartered in Greensboro.

A statement from NewBridge Bank says the combined assets between the two banks total $2.5 billion.

The boards of directors from each company unanimously approved the deal. It is expected to close within the first quarter of 2014.

According to a news release, if approved, Capstone's shareholders will acquire 2.25 shares of NewBridge common stock for each share of CapStone common stock. 

NewBridge Bank has nearly 30 banks across North Carolina; Capstone has four - three of which are in Wake County.

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