Park Sterling Corporation and Community Capital Corporation Receive Regulatory Approval to Merge
14 July 2011 - 6:30AM
Marketwired
Park Sterling Corporation (NASDAQ: PSTB) ("Park Sterling"), the
holding company for Park Sterling Bank, and Community Capital
Corporation (NASDAQ: CPBK) ("Community Capital"), the holding
company for CapitalBank, today announced that their proposed merger
has been approved by the Federal Reserve Bank of Richmond and the
South Carolina State Board of Financial Institutions. The
transaction must still be approved by the shareholders of Community
Capital.
Additional Information About the Merger and Where To Find It In
connection with the proposed merger between the Park Sterling and
Community Capital, Park Sterling has filed with the Securities and
Exchange Commission (the "SEC") a Registration Statement on Form
S-4 that includes a Proxy Statement of Community Capital that also
constitutes a Prospectus of Park Sterling, as well as other
relevant documents concerning the proposed transaction. Once the
Registration Statement is declared effective by the SEC, Community
Capital will mail a definitive Proxy Statement/Prospectus to its
shareholders. Shareholders are strongly urged to
read the Registration Statement and the Proxy Statement/Prospectus
regarding the proposed merger and other relevant documents filed
with the SEC, as well as any amendments or supplements to those
documents, because they will contain important information
regarding the proposed merger.
A free copy of the Proxy Statement/Prospectus, as well as other
filings containing information about Park Sterling and Community
Capital, may be obtained after their filing at the SEC's Internet
site (http://www.sec.gov). In addition, free copies of documents
filed with the SEC may be obtained on the respective websites of
Park Sterling and Community Capital at www.parksterlingbank.com and
www.capitalbanksc.com.
This report does not constitute an offer to buy, or a
solicitation to sell, shares of any security or the solicitation of
any proxies from the shareholders of Park Sterling or Community
Capital.
Participants in Solicitation Park Sterling and Community Capital
and their respective directors and executive officers may be deemed
to be participants in the solicitation of proxies from Community
Capital's shareholders in connection with the proposed merger.
Information about the directors and executive officers of Park
Sterling and Community Capital and information about other persons
who may be deemed participants in this solicitation is included in
the Proxy Statement/Prospectus. Information about Park Sterling's
executive officers and directors can be found in Park Sterling's
definitive proxy statement in connection with its 2011 Annual
Meeting of Shareholders filed with the SEC on April 12, 2011.
Information about Community Capital's executive officers and
directors can be found in Community Capital's definitive proxy
statement in connection with its 2010 Annual Meeting of
Shareholders filed with the SEC on April 21, 2010.
About Park Sterling Corporation Park Sterling Corporation is the
holding company for Park Sterling Bank, headquartered in Charlotte,
North Carolina. The Bank's primary focus is to provide banking
services to small and mid-sized businesses, owner occupied and
income producing real estate owners, professionals, and other
customers doing business or residing within its target areas. Park
Sterling Bank is committed to building a banking franchise across
the Carolinas and Virginia that is noted for sound risk management,
superior client service and exceptional client relationships. For
further information, visit www.parksterlingbank.com. Park
Sterling's shares are traded on NASDAQ under the symbol PSTB.
About Community Capital Corporation Community Capital
Corporation is the parent company of CapitalBank, which operates 18
community oriented branches throughout upstate South Carolina and
offers a full array of banking services, including a diverse wealth
management group. Additional information on CapitalBank's locations
and the products and services offered are available at
www.capitalbanksc.com. Community Capital Corporation's shares are
traded on NASDAQ under the symbol CPBK.
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