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First Bancorp (FBNC) in Troy, N.C. and Community Financial Shares in Glen Ellyn, Ill. have completed capital raises.
December 24 -
First Bancorp in Troy, N.C., has agreed to buy a branch from Four Oaks Fincorp in Rockingham and will also acquire $64 million in deposits and $22 million in loans associated with a branch in Southern Pines.
September 27 -
J. Michael Cline will retire from his position as president and CEO role at the end of 2013, the $265 million-asset company announced Monday.
September 16 -
The Treasury Department plans to auction its remaining stakes in 16 banks as it continues to unwind its holdings from the Troubled Asset Relief Program.
May 30
The board of Carolina Trust Bank (CART) in Lincolnton, N.C., has recruited the former leader of First Bancorp (FBNC) to be its next president and chief executive.
Jerry Ocheltree will take the helm of the $267 million-asset Carolina Trust on Jan. 1, according to the company's Thursday press release. Ocheltree stepped down from First Bancorp in Southern Pines, N.C., this year. He had served as president and chief executive officer of the $3.2 billion-asset company since 2005.
Ocheltree has also served as chief executive at Premier South Bank in Wytheville, Va., and at First Virginia Bank in Wytheville, Va.
"We had very specific criteria for our new CEO, and we were very deliberate in our search [Ocheltree] met or exceeded our criteria and he is the right person to lead Carolina Trust," company chairman Johnathan Rhyne, Jr., said in the press release. Ocheltree "has led three community banks with significant successes at each," Rhyne said. "His experience leading banks larger than Carolina Trust has prepared him to manage our bank during this time of economic recovery."
Ocheltree will succeed longtime chief executive J. Michael Cline, who
Carolina Trust operates seven branches in western North Carolina.
