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Posted February 04, 2019
A third proposed startup community bank in North Carolina, Spirit Community Bank of Statesville, has withdrawn its application with the N.C. Banking Commission.
The commission confirmed Thursday that Spirit ended its bid Dec. 31.
Spirit unveiled its plans in March. Its president was William Long, former chief executive and president of Yadkin Valley Financial Corp. who retired from that bank in 2011.
Spirit joins Dogwood State Bank of Raleigh and Carolina State Bank in Greensboro in taking that step.
Dogwood officials are now attempting to acquire management of Sound Bank of Morehead City to jump-start their startup attempt in Raleigh.
Meanwhile, officials with Winston-Salem’s Community Bank of the Carolinas said Thursday it continues to pursue its capital-raising effort. The bank exceeded in November the halfway mark of at least $25 million, and potentially up to $30 million.
American Bank and Trust, based in Monroe, received tentative approval from the commission on Nov. 14. It also is working to complete its capital raise.
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