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First Carolina Bancshares Corporation history
First Carolina Bancshares Corporation company history timeline
One of the bank's key executives was Senior Vice-President Mack I. Whittle, Jr., who had started his career there by rolling coins as a college student in 1969.
In 1985 the South Carolina General Assembly passed legislation allowing out-of-state banks to expand into South Carolina.
In May 1986, Whittle hired his former secretary and rented an office.
1986:Carolina First founded as NCNB buys Bankers Trust.
By the first quarter of 1988, deposits had swelled to $95 million, up from $38 million a year earlier.
In March 1989, Carolina First's $150 million in assets made it South Carolina's fifteenth-largest bank, and at the and of that year Carolina First acquired Georgetown's First Federal Savings and Loan Association.
In 1991 Carolina First bought two branches of American Federal Savings Bank in Anderson, bought four First Savings Bank branches in Myrtle Beach, and opened another Greenville office.
Its assets topped $1 billion in 1995.
It began developing this system in earnest in 1995 and began marketing it a year later after first testing it with about 90 employees who used it for their personal banking needs.
In January 1996 the Carolina First board awarded the three executives ten percent of the company's Affinity stock, then worth about $580,000.
By the time of Affinity's initial public offering in April 1996, Carolina First had itself installed several ALMs around the state in places like grocery stores, with agreements in the works to place them at auto dealerships as well.
In 1996 Carolina First acquired forty percent of Atlanta Internet Bank.
The bank invested in Syneractive Marketing LLC in November 1998.
Carolina First announced plans to buy its first out-of-state bank, Citizens First National Bank, in January 1999.
1999:Carolina First enters Florida market; Bank CaroLine debuts.
Upon opening in 2000, the center would employ 350.
Rated as fastest organically growing bank in the US over the 5-year period ended December 2020 based on composite growth in assets, loans and deposits.
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First Carolina Bancshares Corporation competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| First Mid Bank & Trust | 1865 | $6 | 1,000 | 70 |
| Rose Hill Bank | - | $13.4M | 50 | - |
| Middlefield Bank | 1901 | $182.6M | 185 | 13 |
| Saco and Biddeford Savings Institution | 1827 | $11.0M | 100 | 4 |
| Brannen Bank | 1926 | $27.9M | 15 | - |
| McHenry Savings Bank | - | $28.0M | 100 | 19 |
| Magnolia Bank | 1919 | $12.0M | 125 | - |
| Metro Bank | 1989 | $514.7M | 2,831 | 3 |
| Whitaker Bank | 1978 | $24.0M | 4 | 10 |
| CENTRAL PROGRESSIVE BANK | - | $15.0M | 49 | - |
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First Carolina Bancshares Corporation may also be known as or be related to Carolina Bank & Trust Co., FIRST CAROLINA BANCSHARE, First Carolina Bancshares and First Carolina Bancshares Corporation.