Charlotte-based North American Financial Holdings has signed a definitive agreement to take a 90 percent stake in a Greenville, Tenn.-based bank for $217 million, reports Rick Rothacker, the banking reporter at the Charlotte Observer.
Green Bankshares has 65 branches and $2.4 billion in assets.
The deal would be the sixth for North American, which is led by former Bank of America executives Gene Taylor and Chris Marshall. North American is consolidating its purchases under the banner of Capital Bank, the Raleigh bank it bought last year.
With the latest addition, North American would have $7.3 billion in assets in the Carolinas, Tennessee and Florida.