A month after abandoning plans to acquire Smithfield-based KS Bancorp, First Citizens Bancshares (Nasdaq: FCNCA) has zeroed in on another institution: Capital Commerce Bancorp.
Raleigh-based First Citizens is buying the Milwaukee bank – which does business through its subsidiary, Securant Bank & Trust – for a cash consideration of $4.75 per share of common stock, the companies announced Wednesday. First Citizens has $34 billion in assets; Capital Commerce $216 million.
