FNB United (FNBN) in Asheboro, N.C., is planning to change its name.
Shareholders will vote on a proposal to rename it CommunityOne Bancorp at their annual meeting on June 20, FNB United said Wednesday. Its board has already approved the change.
The $2.1 billion-asset FNB is
The company's ticker symbol will become "COB" if the shareholders vote in favor.
"With our new brand and pending merger with Bank of Granite, the time is right to change the name," President Bob Reid said in a news release. "CommunityOne reflects our identity and future direction as a state-wide community bank which focuses on customers as its No. 1 priority."
FNB United also announced Wednesday that a director is retiring after more than 30 years on the board.
R. Reynolds Neely Jr. will leave the boards of FNB United and CommunityOne Bank immediately before the annual meeting in June. Neely has been a director since 1980 and is a member of the audit and enforcement compliance committees.
FNB United has nominated T. Gray McCaskill to fill Neely's seat on the two boards and the two committees. McCaskill is the chief executive of Senn Dunn Insurance in Greensboro, N.C.
