Raleigh's Banks

[ctl]

Coastal was founded in the 1960s to serve IBM employees in RTP, but they've expanded their scope greatly since then. I'm particularly appreciative that they are willing to build new branches whose architecture is not like the usual branch bank.

[Gard]

A bit of good news for downtown....Fifth Third Bank is wanting 50,000 sq. ft. of office space downtown AND the naming rights to a building, along with their name on the top of the building, a la RBC and BB&T. The problem now appears to be there is not enough space in any existing buildings for them and the square footage they need wouldn't be enough to get a larger scale project such as Charter or Edison off the ground, but it could get one of the smaller projects off the ground.

http://www.newsobserver.com/2010/07/21/590528/fifth-third-bank-plans-to-build.html

[Euphorius]

I read about that earlier and the first thing that came to mind was powerhouse plaza.

[ctl]

Maybe FIfth Third can take market share from Wells Fargo if the transition from Wachovia to WF is botched. NCNB certainly lost market share during the transition to NationsBank/BofA. On the other hand, First Citizens and BB&T et al. will also be hungry for disaffected Wachovia customers.

[DPK]

I read about that earlier and the first thing that came to mind was powerhouse plaza.

Too far away from Fayetteville Street. Fifth Third would likely want to be along side the other major banking players. They might have to wait the Edison project out or some how rope in other partners so there is enough interest to get one of the Edison buildings initially funded and built.

[Jones_]

Too far away from Fayetteville Street. Fifth Third would likely want to be along side the other major banking players. They might have to wait the Edison project out or some how rope in other partners so there is enough interest to get one of the Edison buildings initially funded and built.

I always thought the site of the now dead "Raleigh" Reynolds project was the best bank tower site. Not sure I can rationalize it....just a gut feeling. Maybe its the fact it's right there on Dawson with cars whizzing by all day and has nice looking neighbors with The Dawson and Campbell law school. Pair a tower there with a big hotel and you have quite an active node in downtown that bridges Fayetteville to Glenwood (old discussion I know). This spot would also separate it from the clutter of all the other bank signs on Fayetteville.

[Merboy]

They might have to wait the Edison project out or some how rope in other partners so there is enough interest to get one of the Edison buildings initially funded and built.

Speaking of which, how is the Edison project doing? I'm assuming nothing is new since no sites have mentioned it since 2008.

[Captain Awesome]

Speaking of which, how is the Edison project doing? I'm assuming nothing is new since no sites have mentioned it since 2008.

I have heard that the Davie St. side of the project is moving forward, but it is nothing like the towers that were initially proposed in order to maintain the step down effect from Fayetteville St. to City Market. I'll see if I can get more info (and approval to spread said info) and post it to the Edison thread.

[Merboy]

I have heard that the Davie St. side of the project is moving forward, but it is nothing like the towers that were initially proposed in order to maintain the step down effect from Fayetteville St. to City Market. I'll see if I can get more info (and approval to spread said info) and post it to the Edison thread.

What!? They're downgrading the Edison project too? UGH! What is WITH Raleigh?

[Gard]

Good news coming out of Capital Bank involving a major investor...could we be looking at NC's next major bank?....

The investment group will be merging 4 banks it had previously bought into Capital Bank, expanding their footprint from 32 to 84 branches, with some of those being in SC and FL. The group is led by former executives of Bank of America and is based in FL, but will be relocating to Raleigh once the deal closes and plans to operate Capital Bank as a subsidiary initially, with the eventual plan being to merge into single holding company under the Capital Bank name. Maybe we will eventually get a big tower out of them :

http://www.newsobserver.com/2010/11/05/782217/capital-bank-draws-a-buyer.html

[RALNATIVE]

Good news coming out of Capital Bank involving a major investor...could we be looking at NC's next major bank?....

The investment group will be merging 4 banks it had previously bought into Capital Bank, expanding their footprint from 32 to 84 branches, with some of those being in SC and FL. The group is led by former executives of Bank of America and is based in FL, but will be relocating to Raleigh once the deal closes and plans to operate Capital Bank as a subsidiary initially, with the eventual plan being to merge into single holding company under the Capital Bank name. Maybe we will eventually get a big tower out of them :

http://www.newsobser...ws-a-buyer.html

Sound like a promising development.

[DwnTwnRaleighGuy]

Sound like a promising development.

I wish I knew which banks these where so that we could have an idea of the amount of assets we are talking about? Does anyone know the banks that will be merging with Capital? I hate to have to wait 3 months to find out from the FDIC...I guess that I am a very impatient person! Sorry!

[kermit]

I wish I knew which banks these where so that we could have an idea of the amount of assets we are talking about? Does anyone know the banks that will be merging with Capital? I hate to have to wait 3 months to find out from the FDIC...I guess that I am a very impatient person! Sorry!

None are banks you have likely heard of. Two in Florida, one in SC. http://www.prnewswire.com/news-releases/north-american-financial-holdings-inc-acquires-three-failed-banks-from-the-fdic-98640639.html

Total assets of the other three banks are around 1.2billion