Pinnacle Financial Partners announced a merger with Bank of North Carolina Bancorp. The all-stock transaction, which closed June 16, was valued at $1.9 billion. Pinnacle was founded in 2000 in Nashville, Tennessee, and grew to become the second-largest bank holding company in the state, with $11.7 billion in assets in 50 offices. The new bank, which should transition fully under the Pinnacle brand by fall, will have over $20 billion in total assets in 126 branches in North Carolina, South Carolina, Virginia, and Tennessee. Pinnacle attributed the speedy closing, which took less than five months, to a shared community bank culture, support from shareholders, and strong relationships cultivated with regulators. A lawsuit by shareholder Andrew Giles, claiming BNC had not disclosed enough numbers for shareholders to verify they were getting a good price for the merger, was settled out of court when the requested data was presented. Pinnacle will retain a 60% interest; BNC, 36%; and private investors will make up the difference.