First Citizens acquires failed bank


First Citizens Bancorporation of South Carolina is the Palmetto State’s second-largest bank company, but it’s making a run for the top spot.

Friday, Columbia-based First Citizens assumed the deposits of $2 billion Georgian Bank, following the latter’s closure by the Federal Deposit Insurance Corp.

Atlanta-based Georgian Bank’s five branches will reopen Monday as branches of First Citizens, a closely held company with more than $7 billion in assets.

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Renault upholds French auto tradition


The French automaking industry has long had a reputation for turning out vehicles that appear to be built completely from scratch, as though there was not a single other car in the world from which to turn for inspiration.

Renault upholds that tradition with a couple of its prototype electric cars: the Twizy, shown above, and the Zoe, which not only have ridiculous names but are among the ugliest vehicles ever produced anywhere. Renault unveiled the concept cars last week at the Frankfurt Autoshow.

The Twizy, which looks like it has square wheels, is expected to go into production in the second half of 2011 and the Zoe in mid 2012.

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Provident faces delisting by NASDAQ


Rock Hill, SC-based Provident Community Bancshares announced Thursday that it has been informed by NASDAQ that its common stock has not met the minimum market value guidelines laid out by the stock exchange and that it risks being delisted from the NASDAQ Global Market.

The company received a letter from NASDAQ on Sept. 22, providing notice that for 30 consecutive trading days the corporation’s common stock had not maintained a minimum market value of publicly held shares of $5 million.

Stock in Provident, which has lost $2.4 million through the first six months of 2009, is currently trading for $3.25 a share, down from a 52-week high of $11.

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