Asheville bank closes; second to fail this year

Closed stock

ASHEVILLE, N.C. — The N.C. Office of the Commissioner of Banks said Friday it has closed Pisgah Community Bank of Asheville, with its assets and deposits being transferred to Capital Bank of Rockville, Md.

The Winston-Salem Journal reported that Capital Bank, which is not affiliated with Capital Bank Financial Corp., gained Pisgah’s assets in a deal brokered by the Federal Deposit Insurance Corp.

Pisgah had $21.9 million in assets and $21.2 million in deposits on March 31. Capital Bank agreed to buy $19.8 million of Pisgah’s assets, as well as take over all of its deposits and Pisgah’s branch.

Read more: The Winston-Salem Journal

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