Given the current market, what prompted First Carolina State Bank to expand into
Reidsville and Greenville, North Carolina?
While the current times are indeed challenging, the management and directors of
First Carolina State Bank have faith in the resilience of the North Carolina economy.
Regardless of the short-term economic volatility, we are confident that our markets
will thrive in the long run. We are working tirelessly to make this happen.
The bank leveraged one of our executive’s decades of business development experience
when he helped us enter Greenville via a loan production office at minimal cost
to the bank. In a very short period of time, the office has built a profitable commercial
loan portfolio. Our plan is to convert this office into a fullservice branch with
a private banking feel.
In Reidsville, the loss of a few key community banks through mergers and acquisitions
left this proud community without a bank with a hometown feel. Along with the efforts
of our team in Reidsville, more than 300 local people purchased stock in First Carolina
State Bank. This allowed our bank to provide the necessary capital to launch Reidsville
Community Bank, a division of First Carolina State Bank, near the end of 2008.
For any building to stand the test of time, it must begin with a strong foundation
followed by well planned, solidly constructed additions. First Carolina State Bank’s
expansion into Greenville and Reidsville exhibit these attributes. Our employees
and directors will reinforce our future development with a strong work ethic and
a relentless focus on serving our customers.
— Timothy N. Taylor, President & CEO