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December 10, 2019
Team Assists First Century Bank in Finalizing Merger with First Covenant
A deal team of Neil Grayson and Ricky Davis with advice from John Jennings and Ben Barnhill represented First Century Bancorp and its wholly owned subsidiary, First Century Bank, N.A., in its consummation of the previously announced merger of First Covenant Bank with and into First Century Bank. Allie Nagy assisted on regulatory matters, and Maurice Holloway offered counsel on tax matters. The surviving bank will remain a wholly owned subsidiary of First Century Bancorp and will continue to operate as a national bank under the name First Century Bank, N.A. The consolidated bank has total assets of approximately $284 million, loans of approximately $49 million, and deposits of approximately $245 million.
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Caroline Balchunas
T 843.534.4121
caroline.balchunas@nelsonmullins.com
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