National Bank of Commerce to buy stake in Republic Bank

Wednesday, November 16, 2016

The holding company for Superior's National Bank of Commerce is looking to aquire 49 percent of Duluth's Republic Bank.

Natcom Bancshares Inc. is applying to the Federal Reserve Board to buy minority ownership interest, which represents and investment in the bank, National Bank of Commerce CEO Steve Burgess said Wednesday.

"We're not doing anything with merging or anything like that," he said. "It's just an investment we're going to have in our community."

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Category: Investors