January 19, 2010 (FinancialWire) — Capital Bank Corp. (NASDAQ: CBKN), the parent company of Capital Bank, said that it has withdrawn its registration statement with respect to the public offering of around $55 million in common stock due to unfavorable market conditions.

company CEO Grant Yarber said the move came as a result of prevailing poor market conditions and that the likely pricing for the common stock offering did not meet the company’s criteria and “was not at a level that was in the best interests of our shareholders.”

Raleigh, North Carolina-based Capital Bank operates 32 banking offices in North Carolina.

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