Citizens

KS Bancorp says it isn’t interested in sale to First Citizens

KS Bancorp, a small Johnston County-based community bank which is feeling takeover pressure from the Raleigh-based Holding family, says it wants to remain independent after an analysis of strategic options by advisers at the Raymond James investment bank. First Citizens Bank “After its thorough and extended considerations, our Board has determined the best interests of […]

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First Citizens launches $46M hostile takeover bid

First Citizens Bank has launched a $46 million hostile takeover of KS Bank, a bank with nine branches in the greater Triangle and Eastern North Carolina. Raleigh-based First Citizens is offering $35 per share in cash, or about $45.8 million, to acquire KS Bank’s corporate parent, Smithfield-based KS Bancorp Inc. First Citizens said it was […]

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First Citizens takes over Guaranty Bank in FDIC-assisted deal

Raleigh’s First Citizens Bank has purchased some of the assets and assumed all of the deposits of Guaranty Bank of Milwaukee after reaching a deal with the Federal Deposit Insurance Corp. Guaranty Bank — which also conducted business as BestBank in Michigan and Georgia — was shuttered Friday by the Office of the Comptroller of Currency, with […]

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Raleigh Votes to Establish a Community Engagement Board, Which Critics Worry Will Take Power Away from Citizens Advisory Councils

After vigorous discussion, Raleigh City Council members agreed Tuesday to form a community engagement board but punted on how it would work and exactly what it would do. The proposal for the community engagement board ran into opposition from council members who preferred the existing, sometimes freewheeling citizens advisory committees that were established in the […]

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