Bank of North Carolina takes over Blue Ridge Savings Bank

Published on Friday, October 14, 2011

Bank of North Carolina, a wholly-owned subsidiary of BNC Bancorp announced Friday that it has entered into a Purchase and Assumption Agreement with loss share arrangements with the Federal Deposit Insurance Corporation to purchase substantially all of the assets and to assume substantially all of the deposits and other liabilities of Blue Ridge Savings Bank, Inc.
The North Carolina offices will conduct business as Bank of North Carolina, while the South Carolina office in Greer will operate as BNC Bank.
On Oct. 14, Blue Ridge was closed by the State of North Carolina Office of the Commissioner of Banks, and the FDIC was named as Receiver. All Blue Ridge locations will reopen as branches of Bank of North Carolina, except in Greer, where they will be doing business as BNC Bank, at normal banking hours on Oct. 17. All former Blue Ridge depositors will be able to conduct banking business as usual. Blue Ridge customers can continue to access their money by writing checks, using ATMs, debit cards, or the Internet. Checks drawn on Blue Ridge will continue to be accepted. Loan customers should continue to make their payments as usual.
Blue Ridge deposit customers will receive a letter providing additional details concerning their accounts and are encouraged to call their local banking office and speak to the same familiar staff, or visit bankofnc.com or call 800-262-7175 for additional information.
The Blue Ridge bank in Greer, located off I-85, was the scene eight years ago of a triple murder. Authorities still have not caught the killer. Greer police found teller Sylvia Holtzclaw and customers Eb and Maggie Barnes shot to death inside the bank on May 16, 2003.


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