One of two Capital Bank offices in Wilkes County is among 22 branch banks being closed by the parent company, Memphis-Tenn.-based First Horizon National Corp.
First Horizon reported to the U.S. Office of the Comptroller of the Currency that closure of the branch bank on N.C. 16 North in Millers Creek and the 21 others will occur by Sept. 25.
The Capital Bank branch on N.C. 16 North was constructed as a Northwestern Bank office and was closed after First Union acquired Northwestern in 1985. It re-opened as a Wilkes National Bank branch, but became a CommunityOne branch after CommunityOne acquired Wilkes National. Capital Bank bought CommunityOne in 2016, bringing the branch to its current ownership.
The other Capital Bank facility in Wilkes, a larger building originally constructed as a Bank of Granite branch, is on U.S. 421 West in western Wilkesboro. CommunityOne acquired it with the purchase of Bank of Granite in 2011, and from there it went to Capital Bank.
Other Capital Bank branches in North Carolina being closed are in (one apiece) Lenoir, Hudson, Hickory, Burlington, Madison, Stanley, Sanford, Zebulon, Clayton, Laurinburg, Greenville, Fayetteville and Asheboro.
First Horizon is also the parent company of First Tennessee Bank. First Horizon completed the $2.2 billion acquisition of Charlotte-based Capital Bank Financial Corp. in 2017, resulting in an institution with over $40 billion in assets and about 350 offices in eight Southern states.
At the time, First Tennessee was kept as the name of the banks in Tennessee and a few other states while Capital Bank remained for those in the Carolinas and Florida. In June, the bank announced plans to consolidate Capital Bank and First Tennessee Bank under its corporate name this fall