South Carolina

CapitalSouth Bancorp and Monticello Bancshares to Merge 

CapitalSouth Bancorp (NASDAQ:CAPB) and privately-held Monticello Bancshares, Inc. today announced that the companies have signed a definitive agreement to merge Monticello with CapitalSouth. Monticello is the holding company for Monticello Bank, a federally chartered savings bank with two locations in Jacksonville, Florida. The company also operates a wholesale residential mortgage operation based in Fitzgerald, Georgia, which originates and sells prime conventional residential mortgage loans in Florida, Georgia, North Carolina and South Carolina.