ASHEBORO, N.C. — CommunityOne Bank and Bank of Granite have announced plans to merge, creating a financial network with more than $5 billion in deposits and assets.
Bank of Granite Chairman John Bray said Wednesday the merger of the two North Carolina banks will provide a stronger financial position and improve customer service.
Bank of Granite was founded in 1906 and has branches throughout western North Carolina. CommunityOne was founded in 1907 and serves communities in central, southern and western North Carolina.
The merged bank will operate under the CommunityOne brand name and have more than 60 customer service branches. The headquarters will be in Asheboro.
The merger is expected to be completed later this year.