ROCKVILLE, Md., May 10, 2013 /PRNewswire/ — On Friday, May 10, 2013, Maryland-based Capital Bank acquired certain assets and assumed the deposits of Pisgah Community Bank in Asheville, North Carolina.

According to Scot Browning, President of Capital Bank, Pisgah Community Bank provided banking services to its community from a single location in Asheville, NC. Pisgah Community Bank had total assets of approximately $21 million when it was closed by the North Carolina Office of the Commissioner of Banks. Capital Bank acquired most of Pisgah Community Bank’s assets and deposits from the FDIC, acting as Receiver for the failed bank.

SOURCE Capital Bank