Former type Commercial Bank Defunct 2011 (2011) Headquarters Raleigh Ceased operations 2011 | Industry Banking, Finance Website www.ironstone.com Founded 1997 | |
Fate Merged with First Citizens Bank in 2011 Key people Frank B. Holding, Jr. (CEO) | ||
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IronStone Bank, was a United States bank that was merged back into First Citizens bank in 2011. It had been established by First Citizens bank in 1997 as a federally chartered bank and had operated 58 branches in 12 U.S. states before it was merged.
Contents
IronStone Bank offered both personal and business financial services and was a wholly owned subsidiary of First Citizens BancShares. After the merger all former IronStone Bank branches operated under the First Citizens Bank brand.
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History
On April 28, 1997, Raleigh, N.C.-headquartered First Citizens BancShares launched IronStone Bank, a federally chartered thrift institution that originally operated under the name Atlantic States Bank. Initially, IronStone Bank operated in the counties surrounding Atlanta, Ga., but gradually expanded into other high-growth markets throughout the United States. On January 7, 2011, First Citizens BancShares announced the merger of its two banking subsidiaries First Citizens Bank and IronStone Bank. At that time, IronStone Bank merged with and became a division of First Citizens Bank, a North Carolina-chartered commercial bank. Prior to the merger, IronStone operated under a federal savings association charter.
The IronStone Bank division completed its conversion on Oct. 11, 2011, to the First Citizens Bank name. All former 58 branches in 12 U.S. states would now operate under the First Citizens Bank name.