What does SOPN mean in NASDAQ SYMBOLS
SOPN stands for “First Savings Bancorp, Incorporated, of North Carolina”. It is a de-listed financial institution founded in 1998 and based in Southern Pines, North Carolina. The company specialized in home mortgage services and offering a wide array of products and services tailored to meet the needs of the community. SOPN was acquired by BB&T Corporation in 2019 and is no longer a publicly traded company.
SOPN meaning in NASDAQ Symbols in Business
SOPN mostly used in an acronym NASDAQ Symbols in Category Business that means First Savings Bancorp, Incorporated, of North Carolina (de-listed)
Shorthand: SOPN,
Full Form: First Savings Bancorp, Incorporated, of North Carolina (de-listed)
For more information of "First Savings Bancorp, Incorporated, of North Carolina (de-listed)", see the section below.
Overview
SOPN was established as a savings bank to serve the people of southern Pines, North Carolina and surrounding areas. The bank offered financial products for both individuals and business owners, including deposits, home mortgages, consumer loans, commercial real estate loans, money market accounts and trust services. SOPN also offered online banking services to provide customers with convenient access to their accounts from any location with an internet connection.
Products & Services
SOPN provided customers with a variety of banking products and services to meet their individual needs. These included deposit accounts such as checking, savings, money market accounts; consumer loans for automotive purchases; home mortgages for first-time homebuyers or existing homeowners seeking to refinance; commercial real estate loans for business owners looking to acquire property; and trust services such as estate planning solutions. Customers could also use the online banking service to monitor their account activity from any internet connection or through its mobile application on smartphones or tablets.
Acquisition
In 2019 SOPN was acquired by BB&T Corporation as part of its acquisition strategy focused on expanding its presence in North Carolina’s southern Pines region. As part of the transaction all deposits belonging to SOPN were transferred over seamlessly into BB&T accounts without interruption or any need for customer action. Similarly all employees working at SOPN prior to the acquisition were welcomed into BB&T’s team following completion of the purchase agreement.
Essential Questions and Answers on First Savings Bancorp, Incorporated, of North Carolina (de-listed) in "BUSINESS»NASDAQ"
What is First Savings Bancorp, Incorporated?
First Savings Bancorp, Incorporated was a publicly traded bank holding company with operations primarily in North Carolina. The company managed a network of branches in the Charlotte metro area and several other mid-sized cities across North Carolina. First Savings Bancorp also served customers through online banking services and had investments in an array of financial instruments.
When did First Savings Bancorp de-list from the stock exchange?
In December 2017, First Savings Bancorp de-listed from NASDAQ after entering into an agreement to be acquired by Yadkin Financial Corporation.
What services did First Savings Bancorp offer?
First Savings Bank’s primary offerings included personal banking services such as checking accounts, savings accounts and certificates of deposit (CDs), various lending products and wealth management services. The bank also provided business banking solutions such as merchant processing, payroll services and cash management services.
Is it possible to access my account information associated with First Savings Bank?
Yes. Yadkin Financial Corporation is committed to providing its customers with quality service and secure access to their account information regardless of former affiliations with former banks or subsidiaries. You can find more information on accessing your account here: https://www.yadkinbank.com/faqs/accessing-account-information/.
How will I know if the sale from First Savings Bank completed?
You will receive an official notification within 30 days of the sale completion date indicating whether or not your account has been transferred while providing next steps for continuing service through Yadkin Financial Corporation's network of branches if applicable. Your existing deposits will remain “as is” throughout this process.
Are there still any operating branches owned by First Savings Bank?
No, all existing locations owned by First Savings Bank, Incorporated have since been sold or consolidated and are now under the ownership of Yadkin Financial Corporation and its affiliates respectively. There are currently no operating branches owned by First Savings Bank in North Carolina or elsewhere.
What assets were acquired by Yadkin Financial Corporation during the merger transaction with First Savings Bank?
During the merger transaction, Yadkin Financial Corp agreed to acquire substantially all of FSB's assets including existing loans from commercial real estate businesses, commercial businesses, residential mortgages and consumer loans along with deposits totaling approximately $1 billion USD at closing for $82 million USD in cash plus stock options valued at around $20 million USD subject to adjustment based on certain conditions being met prior to closing date.
Does Yadkin Financial Corp provide similar services that I had access to prior from my time as a customer at FSB?
Yes! Yadkin strives to make sure all current customers receive the same level of quality service as when they were banking with FSB prior to the merger transaction. It offers all standard accounts such as checking accounts, savings accounts and certificates of deposit (CDs) along with other various financial products such as lending solutions for both personal and business needs.
Final Words:
The abbreviation SOPN stands for First Savings Bancorp, Incorporated of North Carolina which is now part of BB&T Corporation following a successful acquisition in 2019. Having operated out of Southern Pines since 1998 until its purchase by BB&T, it provided various financial products tailored to meet customer needs including consumer loans, home mortgages as well as trust management solutions among others all accessible via its convenient online platform.
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