From Yahoo:
Capital Bank Corporation (Nasdaq: CBKN - News), headquartered in Raleigh, NC and the parent company of Capital Bank, today announced that it has entered into a definitive purchase agreement to acquire the four Fayetteville area offices of Omni National Bank in a cash transaction. Omni National Bank is the banking subsidiary of Omni Financial Services, Inc., a bank holding company headquartered in Atlanta, GA.
As a result of this transaction, Capital Bank will assume deposits currently totaling approximately $105 million and will purchase approximately $50 million in selected loan balances. In addition, Capital Bank will acquire the real estate assets and fixed capital equipment associated with the four branches. Upon completion of the transaction, the Fayetteville branches will operate as full service Capital Bank branch offices.
Omni is desperately trying to shore up its capital reserves as it is coming under increasing pressure in today’s rocky banking climate.
Cash Paid Out No Sale, originally uploaded by Thomas Hawk.
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