The divestiture leaves American Bancorp with a singular focus: American Pride Bank. While the sale transitions ownership of New Republic, the Charlotte-based branch at 700 East Morehead Street remains firmly under the American Pride banner. Those operations were rebranded earlier this July, ensuring that core clients retain their existing banking relationships and staff.

Dominik Mjartan, President and CEO of American Bancorp, framed the move as a necessity for geographic efficiency. By shedding New Republic, the firm intends to concentrate resources on its fastest-growing markets. The organization now operates exclusively through American Pride Bank across Georgia, North Carolina, South Carolina, and Florida. As a designated Minority Depository Institution, the bank continues to emphasize its mission of serving entrepreneurs and building generational wealth across the Southeast.