Aquesta Completes Merger With South Carolina-based Bank
October 05, 2021
Aquesta Bank, a wholly-owned subsidiary of Aquesta Holdings Inc., has completed its merger with a financial institution based in neighboring South Carolina. Aquesta Bank has one branch in Wilmington, at 901 Military Cutoff Road.
The financial institution, headquartered in the Charlotte suburb of Cornelius, is now part of United Community Banks Inc., a bank holding company with executive offices in Greenville, South Carolina. The merger became effective late last week.
Aquesta’s nine branches, eight of which are concentrated in the Charlotte area, “will add to United’s high growth footprint,” according to a news release. As of June 30, Aquesta reported total assets of $739 million and $641 million in deposits. In the Wilmington market, it ranked 18th with in-market deposits of just over $31 million, a 0.21% share of the market.
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