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Slide #21. Park Sterling Corporation — Provident Community Bancshares, Inc.
Park Sterling Corporation (PSTB)
Provident Community Bancshares, Inc.
Park Sterling Corporation (Nasdaq:PSTB) ("Park Sterling"), the holding company for Park Sterling Bank, announced today the completion of its acquisition of Provident Community Bancshares, Inc. (OTCBB:PCBS) ("Provident Community"), the holding company for Provident Community Bank, N.A.. Simultaneous with this acquisition, Provident Community Bank, N.A. was merged with and into Park Sterling Bank. The acquired branches will continue doing business as "Provident Community Bank" until the conversion of core operations, which is expected to occur during the third quarter of 2014.
Park Sterling is a bank holding company for Park Sterling Bank. Co. provides a range of banking products, including personal, business and non-profit checking accounts, interest on lawyer trust accounts, individual retirement accounts, business and personal money market accounts, time deposits, overdraft protection, safe deposit boxes and online and mobile banking. Co.'s lending activities include a range of short- to medium-term commercial (including asset-based lending), real estate, construction, residential mortgage, home equity and consumer loans, as well as long-term residential mortgages. As of Dec 31 2016, Co. had total assets of $3.26 billion and total deposits of $2.51 billion.
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Hold (2.33 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data;
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