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