Capital Bank News

Capital Bank Corp., whose parent company is trying to buy Southern Community Financial Corp., had $2.7 million in profit in the first quarter.

The group that purchased Raleigh's Capital Bank has filed new IPO and reorganization plans with the U.S. Securities and Exchange Commission.

Capital Bank contends that former CEO Grant Yarber wasn't acting under duress when he agreed to amend his contract and consequently isn't entitled to $1.1 million in severance.

And now for something completely different: The former CEO of Capital Bank is running a small Durham company that designs and makes customized, hand-carved furniture, cabinetry and other woodwork.

Capital Bank Corp., the bank cobbled together by ex-Bank of America exec Gene Taylor, earned $5.3 million in net income during 2011, including $1.5 million in the fourth-quarter. The bank is officially based in Coral Gables, Fla., but it maintains offices in SouthPark.