8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): May 21, 2008

CAPITAL BANK CORPORATION

(Exact name of registrant as specified in its charter)

North Carolina	000-30062	56-2101930
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

333 Fayetteville Street, Suite 700

Raleigh, North Carolina 27601

(Address of principal executive offices)

 (919) 645-6400

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

£ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

£ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

£ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

£ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01 Other Events.

On May 22, 2008, Capital Bank (“Capital”) and NewBridge Bank, a wholly-owned subsidiary of NewBridge Bancorp, announced that they have entered into an agreement, pursuant to which NewBridge Bank will purchase the Capital branch located at Battleground Avenue, Greensboro, North Carolina. The acquisition, which is subject to customary closing conditions, including regulatory approvals, is expected to be completed in the third quarter of 2008. A copy of the joint press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Description of Document
Exhibit 99.1	Press release dated May 22, 2008

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: May 27, 2008	CAPITAL BANK CORPORATION
	By:  /s/  B. Grant Yarber
	B. Grant Yarber
	Chief Executive Officer

Exhibit Index

Exhibit No.	Description of Document
Exhibit 99.1	Press release dated May 22, 2008

EX-99.1

Exhibit 99.1

Contact:	Pressley A. Ridgell President and CEO NewBridge Bank 336-369-0900	B. Grant Yarber President and CEO Capital Bank 919-645-3494

Date:  May 22, 2008

NewBridge Bank and Capital Bank Announce Agreement to Purchase Capital Bank Branch in Greensboro

Greensboro, NC — NewBridge Bank and Capital Bank announced today that they have agreed for NewBridge Bank to purchase Capital Bank’s Battleground Avenue branch. With the acquisition, NewBridge Bank will have six full-service offices located in Guilford County and 38 branches throughout North Carolina and Virginia.

“This is an exciting time of growth for NewBridge Bank, and we are eager to close this transaction and begin a great banking relationship with current and potential customers in the Irving Park area,” said Pressley A. Ridgill, President and Chief Executive Officer of NewBridge Bank. “We anticipate that the existing customers will have a smooth transition into our family of products and services, and we will work very hard to earn and retain their business.”

The purchase, which includes the building and certain loans recorded on the books of the branch, is subject to customary closing conditions, including regulatory approvals, and is expected to be completed in the third quarter of 2008. The purchase price was not disclosed.

The purchase is part of NewBridge Bank’s strategic plan to increase the number of banking offices in high-growth areas and to target lines of business with growth potential.

About NewBridge Bank

NewBridge Bank ranks among the 10 largest banks in North Carolina with assets of approximately $2.1 billion. The Bank has 37 banking offices in the Piedmont Triad of North Carolina, the Wilmington, NC area and the area surrounding Harrisonburg, VA. It maintains operations facilities in Lexington and Reidsville, NC and headquarters in Greensboro. The stock of NewBridge Bancorp trades on the NASDAQ Global Select Market under the symbol “NBBC.” The Bank’s website is located at www.newbridgebank.com.

About Capital Bank

Capital Bank Corporation, headquartered in Raleigh, NC, with approximately $1.6 billion in total assets, offers a broad range of financial services. Capital Bank operates 27 banking offices in Asheville (3), Burlington (4), Cary, Graham (2), Greensboro, Hickory, Mebane, Morrisville, Oxford, Pittsboro, Raleigh (5), Sanford (3), Siler City, Wake Forest and Zebulon. Capital Bank’s website is located at www.capitalbank-nc.com.