Acquisition by Capital Bank Financial Corp.

6 Months Ended

Jun. 30, 2016

Business Combinations [Abstract]

Acquisition by Capital Bank Financial Corp.

Acquisition by Capital Bank Financial Corp.

On November 22, 2015, we entered into the Merger Agreement with Capital, under which, upon the terms and subject to the conditions set forth in the Merger Agreement, COB will merge with and into Capital in the Merger, with Capital as the surviving corporation in the Merger. Immediately following the Merger, the Bank will merge with and into Capital’s wholly-owned bank subsidiary, with Capital’s wholly-owned bank subsidiary surviving the bank merger. Shareholders of both COB and Capital approved the Merger on April 18, 2016. The Merger is subject to, among other things, regulatory approval and other customary closing conditions which remain pending.