A North Carolina bank announced it is moving its headquarters to Charleston amid a shakeup of its management team and board of directors.
First Capital Bancshares Inc., which began business in 1999, has leased office space at 304 Meeting Street. The new headquarters and banking office is planned to open this spring.
“We believe the Charleston market is the right place for us to invest the capital we raised and, in turn, we believe the people and businesses of this city will welcome a new community bank,” said Harvey Glick, the new chairman of the board of directors.
More than $22 million was raised from investors in December, according to an SEC filing reported by the Post and Courier.
Of the three existing First Capital Bank branches, two are in North Carolina and its third is in Bennetsville.
Government income filings show First Capital has about $76 million in assets, and it earned $90,000 in 2017’s fourth quarter.
This marks the fourth bank that has headquarters in Charleston. It joins Bank of South Carolina, CresCom and Beacon Community Bank, which opened for business in January.
A complete listing of the board changes and the new members’ ties to the Charleston area can be found in a release from the bank from last week.