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Group files for de novo in Statesville, NC

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Group files for de novo in Statesville, NC

A group is organizing a bank in Statesville, N.C., to be called Spirit Community Bank, American Banker reported March 5.

The group led by William Long — who retired as president and CEO of the former Yadkin Valley Financial Corp. in 2011 — filed applications with the Federal Deposit Insurance Corp. and North Carolina Commissioner of Banks. Long would be the proposed bank's president and CEO, according to the report.

Another group, led by David Cuthbertson, is "evaluating the possibility" of opening a de novo bank in Monroe, N.C. The last de novo bank in North Carolina was Jacksonville-based Coastal Bank & Trust, opened in 2009, American Banker wrote.

Yadkin Valley Financial rebranded as Yadkin Financial in May 2013. The company merged with the former VantageSouth Bancshares Inc. in July 2014, then sold to Pittsburgh-based F.N.B. Corp. in March 2017.