First Charter Bank (NASDAQ: FCTR), a subsidiary of First Charter Corporation , is a bank headquartered in Charlotte, North Carolina, USA. From 1888 founded as Concord National Bank until 2001 moved to Charlotte, the bank is headquartered in Concord, North Carolina. The Bank became part of the Fifth Third Bank in 2008.
Video First Charter Bank
History
Textile companies in Concord, North Carolina like Cannon Mills need a bank, and when they have the money to get started, they need someone to run it. Daniel Branson Coltrane, a Confederate veteran who serves with J.E.B. Stuart in the Civil War, returned to North Carolina in 1888, and Concord National Bank opened in July as North Carolina's first national bank.
In 1925, Concord National Bank moved to a newly built Concord Hotel.
Bob Bratton became Chief Financial Officer of Concord National Bank in 1977, serving in that position until 2005. He played a leading role in the evolution of the bank for changing its name to First Charter Bank and acquiring Bank of Union, Carolina State Bank, Federal Home Savings, BancShares, ten insurance agencies and Southeast Employee Benefits Service.
The bank's operations center is located in the former Cabarrus Theater, an art deco building built in 1939.
In 1984, Concord National Bank merged with Citizens National Bank, founded in 1905 and also in Concord. The name changed to the First Charter, as Concord National was the country's first charter bank, occurring at that time.
On December 1, 1998, the First Charter broke out at a $ 35 million operations center in the UNC-Charlotte area, aimed at as many as 800 employees. The headquarters, however, remained in Concord.
After buying Home Federal Savings in Charlotte, First Charter changed the name of the bank's seven-storey building but then moved its branch across the street to Johnston Building. House Savings House is closed but then reopened with new owner.
In a deal worth $ 260 million, on November 8, 1999, First Charter Corporation agreed to buy Carolina First BancShares from Lincolnton, North Carolina, owner of Lincoln Bank of North Carolina, Cabarrus Bank of North Carolina and Community Bank and Trust, with assets of $ 774 million and 31 offices.
The First Charter began moving to the headquarters of University Research Park for $ 40 million in February 2001.
In January 2006, the First Charter opened three branches, the first in the North Carolina Triangle, in the former SouthTrust location closed after the purchase of a bank by Wachovia. In addition, First Charter plans 24 ATMs at the Food Lion food store. In 2010, First Charter hopes to have 10 branches of Triangle.
On August 16, 2007, Fifth Third Bank announced the purchase of the First Charter. The First Charter has deposits of $ 3.2 billion and assets of $ 4.8 billion, with 60 branches, four insurance offices and 137 automated teller machines in North Carolina and Georgia, as well as loan offices in Asheville, NC, and Reston, Va. $ 1.1 billion The deal gave Fifth Third a major presence in the Southeastern United States, adding to its branches in Georgia and giving it to the Charlotte and Carolina markets. The agreement closed in June 2008.
Maps First Charter Bank
References
External links
Source of the article : Wikipedia
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