NBC/Republic Bank merger becomes official

The merger between National Bank of Commerce (NBC) and Republic Bank was approved by the Office of the Comptroller of the Currency and the Federal Reserve, and became official Friday. Both banks put their primary focus on commercial lending. 

Natcom Bankshares, the Superior-based bank holding company that owns National Bank of Commerce, received federal permission to buy 49 percent of the voting shares of Republic Bancshares, Inc., which is the Duluth-based owner of Republic Bank, in December of 2017. The shares were acquired from Michael Paulucci, son of the late Jeno Paulucci, who founded Republic Bank.

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