|                            |
|----------------------------|
|                            |  |  |  |
| Filed by the Registrant x  |   | Filed by a Party other than the Registrant ¨ |
|                       |   |   |   |
| Check the appropriate box: |
|                       |   |   |   |
| x                          |  Preliminary Proxy Statement |
|                       |   |   |   |
| ¨                     | Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) |
|                       |   |   |   |
| ¨                     | Definitive Proxy Statement |
|                       |   |   |   |
| ¨                     | Definitive Additional Materials |
|                       |   |   |   |
| ¨                     | Soliciting Material under Rule 14a-12 |

|                                                    |
|----------------------------------------------------|
|                                                    |  |  |  |  |
| Payment of Filing Fee (Check the appropriate box): |
|                                               |   |   |   |   |
| x                                                  | No fee required. |
|                                               |   |   |   |   |
| ¨                                             | Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11. |
|                                               |   |   |   |   |
|                                               |   | Title of each class of securities to which transaction applies: |
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|                                               |   |   |
|                                               |   | Aggregate number of securities to which transaction applies: |
|                                               |   |   |
|                                               |   |   |
|                                               |   | Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the filing fee is calculated and state how it was determined): |
|                                               |   |   |
|                                               |   |   |
|                                               |   | Proposed maximum aggregate value of transaction: |
|                                               |   |   |
|                                               |   |   |
|                                               |   | Total fee paid: |
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| ¨                                             | Fee paid previously with preliminary materials. |
|                                               |   |   |   |   |
| ¨                                             | Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. |
|                                               |   |   |   |   |
|                                               |   | Amount Previously Paid: |
|                                               |   |   |
|                                               |   |   |   |   |
|                                               |   | Form, Schedule or Registration Statement No.: |
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|                                               |   | Filing Party: |
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|                                               |   | Date Filed: |
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|        |
|--------|
|        |
|   |

|        |
|--------|
|        |  |
| PLACE: | CommunityOne Bancorp Corporate Office |
|   | Randolph Room |
|   | 1017 East Morehead Street, Suite 300 |
|   | Charlotte, NC 28204 |
|   |   |
| DATE:  | May 7, 2015 |
|   |   |
| TIME:  | 2:00 p.m., Eastern Time |

|    |                                                                                                                                                                                                                                       |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 1. | Election of directors:  To elect eight persons who will serve as members of the Board of Directors for a one-year term until the 2016 annual meeting of shareholders and until their respective successors are elected and qualified; |

|    |                                                                                                                                                                                                                                                                                                                                   |
|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 2. | Amendment of Amended and Restated Bylaws:  To approve an amendment to the Company’s Amended and Restated Bylaws to reduce the minimum number of directors to three (3) and to eliminate the Bylaw requirement of shareholder approval of increasing or decreasing the number of directors authorized by the Bylaws; |

|    |                                                                                                                                                              |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3. | Advisory Vote to Approve Executive Compensation: To vote on a non-binding, advisory proposal on the compensation of  the Company’s executive officers; |

|    |                                                                                                                                                                                                                         |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4. | Frequency of Advisory Vote to Approve Executive Compensation: To vote on a non-binding, advisory proposal on the frequency of future advisory votes on the compensation for the Company’s executive officers; |

|    |                                                                                                                                                                                       |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 5. | Ratification of Appointment of Accountants:  To ratify the appointment of Dixon Hughes Goodman LLP as the Company’s independent registered public accounting firm for 2015; and |

|    |                                                                                                                            |
|----|----------------------------------------------------------------------------------------------------------------------------|
| 6. | Other Business: To transact such other business as may properly come before the meeting or any adjournment of the meeting. |

|                                    |
|------------------------------------|
|                                    |
| By Order of the Board of Directors |
|                                    |
| Beth S. DeSimone, Secretary        |
| April __, 2014                     |

----

----

|                                                        |
|--------------------------------------------------------|
|                                                        |  |
|                                                   |   |
| Meeting Information                                    | 5 |
| Beneficial Owners of CommunityOne Bancorp Common Stock | 8 |
| Proposals to be Considered at the Annual Meeting       | 11 |
| Corporate Governance Matters                      | 17 |
| CommunityOne Bancorp Executive Officers                | 23 |
| Compensation Discussion and Analysis                   | 24 |
| Report of the Compensation and Nominating Committee    | 37 |
| Report of the Audit Committee                          | 38 |
| Other Matters                                          | 39 |

----

|    |                                                                                                                                                                                                                                       |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 1. | Election of directors:  To elect eight persons who will serve as members of the Board of Directors for a one-year term until the 2016 annual meeting of shareholders and until their respective successors are elected and qualified; |

|    |                                                                                                                                                                                                                                                                                                                                   |
|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 2. | Amendment of Amended and Restated Bylaws:  To approve an amendment to the Company’s Amended and Restated Bylaws to reduce the minimum number of directors to three (3) and to eliminate the Bylaw requirement of shareholder approval of increasing or decreasing the number of directors authorized by the Bylaws; |

|    |                                                                                                                                                              |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3. | Advisory Vote to Approve Executive Compensation: To vote on a non-binding, advisory proposal on the compensation of  the Company’s executive officers; |

|    |                                                                                                                                                                                                                         |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4. | Frequency of Advisory Vote to Approve Executive Compensation: To vote on a non-binding, advisory proposal on the frequency of future advisory votes on the compensation for the Company’s executive officers; |

|    |                                                                                                                                                                                       |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 5. | Ratification of Appointment of Accountants:  To ratify the appointment of Dixon Hughes Goodman LLP as the Company’s independent registered public accounting firm for 2015; and |

|    |                                                                                                                            |
|----|----------------------------------------------------------------------------------------------------------------------------|
| 6. | Other Business: To transact such other business as may properly come before the meeting or any adjournment of the meeting. |

----

|        |
|--------|
|        |  |
| ž | by notifying the Company’s Secretary that you are revoking your proxy by written notice that bears a date later than the date of the proxy and that the Company receives prior to the Annual Meeting; |
| ž | by signing another  proxy card bearing a later date and mailing it so that the Company receives it prior to the Annual Meeting; |
| ž | by voting again using the telephone or Internet voting procedures; or |
| ž | by attending the Annual Meeting and voting in person, although attendance at the Annual Meeting alone will not, by itself, revoke a proxy. |

----

----

|                                                                                                                                                                                                           |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                           |  |  |  |  |
| Name and Address of Beneficial Owner                                                                                                                                                                      | Amount and Nature of Beneficial Ownership | Percent ofClass |
| Carlyle Financial Services Harbor, L.P. (1) Cayman Islandsc/o The Carlyle Group1001 Pennsylvania Avenue, N.W.Suite 220 SouthWashington, DC  20004-2505                                                    | 5,772,376 |  | 23.9 | % |
| Oak Hill Capital Partners III, L.P. (2) Cayman IslandsOak Hill Capital Management Partners III, L.P.c/o Oak Hill Capital Management, LLC65 East 55th Street, 32nd FloorNew York, NY  10022 | 5,772,697 |  | 23.9 | % |

|           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)  | Based on information reported on Amendment No. 2 to the Schedule 13D filed with the SEC on December 30, 2014. Carlyle Group Management L.L.C. is the general partner of The Carlyle Group L.P., which is a publicly traded entity listed on NASDAQ. The Carlyle Group L.P. is the managing member of Carlyle Holdings II GP, L.L.C., which is the general partner of Carlyle Holdings II L.P., which is the general partner of TC Group Cayman Investment Holdings, L.P., which is the general partner of TC Group Cayman Investment Holdings Sub L.P., which is the sole shareholder of Carlyle Financial Services, Ltd., which is the general partner of TCG Financial Services, L.P., which is the general partner of Carlyle Financial Services Harbor, L.P. The shares of Common Stock are held directly by Carlyle Financial Services Harbor, L.P. William E. Conway., Jr., Daniel A. D’Aniello, David M. Rubenstein and Glenn Youngkin are the directors of Carlyle Financial Services, Ltd. and, in such capacity, may be deemed to share beneficial ownership of the shares of Common Stock beneficially owned by Carlyle Financial Services, Ltd. These individuals disclaim any such beneficial ownership. |

|           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|-----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2)  | Based on information reported on Amendment No. 1 to the Schedule 13D filed with the SEC on December 30, 2014, the general partner of Oak Hill Capital Partners III, L.P. and Oak Hill Capital Management Partners III, L.P. (together the “Oak Hill Funds”) is OHCP GenPar III, L.P., a Cayman Islands limited partnership.  The general partner of OHCP GenPar III, L.P. is OHCP MGP Partners III, L.P., a Cayman Islands limited partnership.  The general partner of OHCP MGP Partners III, L.P. is OHCP MGP III, Ltd., a Cayman Islands company.  J. Taylor Crandall, Steven Gruber and Denis Nayden are the directors of OHCP MGP III, Ltd.  J. Taylor Crandall, Steven Gruber, Denis Nayden, Tyler Wolfram, Kevin Levy, Shawn Hessing and John Monsky are the officers of OHCP MGP III, Ltd. Each of Messrs. Crandall, Gruber, Nayden, Wolfram, Levy, Hessing and Monsky expressly disclaims beneficial ownership of the shares of Common Stock referred to herein. The beneficial ownership reported by the Oak Hill Funds in the table above does not include beneficial ownership of shares of Common Stock held by Oak Hill Capital Management, LLC (“OHCM”).  OHCM holds 3,019 shares of Common Stock issued to OHCM in connection with compensation awarded to employees of OHCM or its affiliates who serve as members of our board of directors, and includes 1,583 shares of unvested restricted stock, of which 815 shares vest based on stock performance and 768 shares vest on various dates, in each case in equal annual installments over three years from the dates of respective grants.  Each of the Oak Hill Funds disclaims beneficial ownership of the shares of Common Stock which are held by OHCM. |

----

|                                                              |
|--------------------------------------------------------------|
|                                                              |  |  |  |
| Name                                                         | Shares of                 Common Stock Beneficially Owned | Percent Owned |
| Beth S. DeSimone (1)                                         | 29,501 |  | * |
| Scott B. Kauffman (2)                                        | 5,775,816 |  | 23.9% |
| Jerry R. Licari (3)                                          | 29,927 |  | * |
| J. Chandler Martin (4)                                       | 27,928 |  | * |
| Angus M. McBryde, III (5)                                    | 46,143 |  | * |
| T. Gray McCaskill (6)                                        | 2,822 |  | * |
| H. Ray McKenney, Jr. (7)                                     | 12,947 |  | * |
| Gregory P. Murphy (8)                                        | 53,731 |  | * |
| David L. Nielsen (9)                                         | 66,380 |  | * |
| John C. Redett (10)                                          | 5,772,376 |  | 23.9% |
| Robert L. Reid (11)                                          | 61,314 |  | * |
| Boyd C. Wilson, Jr. (12)                                     | 9,526 |  | * |
| All directors and executive officers as a group (12 persons) | 11,888,411 |  | 49.2% |
| * Less than 1% of the outstanding Common Stock.              |   |   |

|           |                                                                                                                                                                                                                                                                                                                                                                                                  |
|-----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)  | Includes 1,892 shares held by her spouse in an IRA.  Also includes 5,765 shares of unvested long-term restricted stock that vest based on stock performance, and 8,536 shares of unvested restricted stock that vest on various dates, 2,546 of which vest equally over three years from the grant date, and all as to which she has sole voting power but no investment power prior to vesting. |

|           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|-----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2)  | Includes 5,589,136 shares held by Oak Hill Capital Partners III, L.P. and 183,561 shares held by Oak Hill Capital Management Partners III, L.P. (the “Oak Hill Funds”). Also includes 3,019 shares issued to Oak Hill Capital Management, LLC (OHCM) issued in connection with director service to employees of OHCM and includes 1,583 shares of unvested restricted stock, of which 815 vest based on stock performance and 768 vest on various dates, in each case in equal installments over three years from the respective grant dates, for which there is voting power but no investment power.  Mr. Kauffman is a principal of OHCM, the adviser of the Oak Hill Funds, and disclaims beneficial ownership of the shares of Common Stock owned by the Oak Hill Funds. |

|           |                                                                                                                                                                                                                                                                                                                          |
|-----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (3)  | Includes 816 shares of unvested restricted stock that vest based on stock performance and 769 shares of restricted stock that vest on various dates, in each case in equal installments over three years from the respective grant dates, as to which he has sole voting power but no investment power prior to vesting. |

|           |                                                                                                                                                                                                                                                                                                                          |
|-----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (4)  | Includes 815 shares of unvested restricted stock that vest based on stock performance and 769 shares of restricted stock that vest on various dates, in each case in equal installments over three years from the respective grant dates, as to which he has sole voting power but no investment power prior to vesting. |

|           |                                                                                                                                                                                                                                                                                                                                       |
|-----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (5)  | Includes 4,688 shares held in an IRA.  Also includes 17,199 shares of unvested long-term restricted stock that vest based on stock performance, and 11,530 shares of unvested restricted stock that vest equally over three years from the grant date, as to which he has sole voting power but no investment power prior to vesting. |

|           |                                                                                                                                                                                                                                                                                                                          |
|-----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (6)  | Includes 815 shares of unvested restricted stock that vest based on stock performance and 768 shares of restricted stock that vest on various dates, in each case in equal installments over three years from the respective grant dates, as to which he has sole voting power but no investment power prior to vesting. |

|           |                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|-----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (7)  | Includes shares held through an affiliated corporation of Mr. McKenney and 20 shares held in an IRA.  Also includes 815 shares of unvested restricted stock that vest based on stock performance and 769 shares of restricted stock that vest on various dates, in each case in equal installments over three years from the respective grant dates, as to which he has sole voting power but no investment power prior to vesting. |

|           |                                                                                                                                                                                                                                                                                                                                                                             |
|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (8)  | Includes 8,257 shares of unvested long-term restricted stock that vest based on stock performance, and 15,573 shares of unvested long-term restricted stock that vest 2/3rds at the second anniversary of the date of grant and the final 1/3 at the third anniversary of the date of grant, as to which he has sole voting power but no investment power prior to vesting. |

----

|           |                                                                                                                                                                                                                                                                                                                                                    |
|-----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (9)  | Includes 29,500 shares held in an IRA. Also includes 8,647 shares of unvested long-term restricted stock that vest based on stock performance, and 17,295 shares of unvested restricted stock that vest in equal installments over three years from the grant date, as to which he has sole voting power but no investment power prior to vesting. |

|            |                                                                                                                                                                                                                                                                                    |
|------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (10)  | Includes 5,772,376 shares held by Carlyle Financial Services Harbor, L.P. Cayman Islands and The Carlyle Group.  Mr. Redett is a principal of The Carlyle Group, and disclaims beneficial ownership of the shares of Common Stock owned by Carlyle Financial Services Harbor, L.P. |

|            |                                                                                                                                                                                                                                                                                                                                                      |
|------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (11)  | Includes 21,172 shares held in an IRA.  Also includes 8,647 shares of unvested long-term restricted stock that vest based on stock performance, and 17,295 shares of unvested restricted stock that vest  in equal installments over three years from the grant date, as to which he has sole voting power but no investment power prior to vesting. |

|            |                                                                                                                                                                                                                                                                                                                          |
|------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (12)  | Includes 815 shares of unvested restricted stock that vest based on stock performance and 769 shares of restricted stock that vest on various dates, in each case in equal installments over three years from the respective grant dates, as to which he has sole voting power but no investment power prior to vesting. |

----

----

----

----

----

|                    |
|--------------------|
|                    |  |  |  |  |  |  |  |
|               | 2014 |   | 2013 |
| Audit Fees         | $ | 402,583 |  |   | $ | 353,150 |  |
| Audit-Related Fees | 45,000 |  |   | 29,000 |  |
| Tax Fees           | 24,500 |  |   | 29,000 |  |
| All Other Fees     | — |  |   | — |  |
| Total              | $ | 472,083 |  |   | $ | 411,150 |  |

----

----

|         |                                           |
|---------|-------------------------------------------|
| • | presiding over all meetings of the Board; |

|         |                                                                                                                                                 |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------|
| • | overseeing the preparation of the agenda for Board meetings with the Secretary and in consultation with the CEO and other members of the Board; |

|         |                                                             |
|---------|-------------------------------------------------------------|
| • | assigning tasks to the appropriate committees of the Board; |

|         |                                                                                     |
|---------|-------------------------------------------------------------------------------------|
| • | ensuring that information flows openly between senior management and the Board; and |

|         |                                              |
|---------|----------------------------------------------|
| • | presiding over all meetings of shareholders. |

----

|         |                                                                                                                                                                        |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Operating management, through undertaking periodic assessments and implementing and maintaining effective internal controls processes and procedures on a daily basis. |

|         |                                                                                                                                                                                                                                  |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The Risk and Compliance Function to review the first line of defense controls to make sure they are designed appropriately and operating as intended, conduct risk assessments and monitor changes in the operating environment. |

|         |                                                                                                                                                                              |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The Internal Audit and Loan Review Functions to provide an independent review of controls and risk management procedures and report the results to management and the Board. |

----

----

----

----

|                            |
|----------------------------|
|                            |  |  |  |  |  |  |  |  |  |  |  |
| Name                       | Fees Earned or Paid in Cash ($) | Stock Awards($)(5) | Options($)(6) | Non-Equity Incentive Plan Compensation($) | Change in Pension Value and Nonqualified Deferred Compensation Earnings($) | All Other Compensation ($) | Total ($) |
| Austin A. Adams (1)   | 56,242 |  | 4,309 |  | — |  | — | — | — | 60,551 |  |
| John J. Bresnan (2)   | 49,987 |  | 29,308 |  | — |  | — | — | — | 79,295 |  |
| Scott B. Kauffman (3) | 49,982 |  | 4,960 |  | 5,340 |  | — | — | — | 60,282 |  |
| Jerry R. Licari            | 74,983 |  | 4,973 |  | 5,344 |  | — | — | — | 85,300 |  |
| J. Chandler Martin         | 74,983 |  | 4,969 |  | 5,344 |  | — | — | — | 85,296 |  |
| T. Gray McCaskill          | 49,982 |  | 4,960 |  | 5,344 |  | — | — | — | 60,286 |  |
| H. Ray McKenney            | 74,983 |  | 4,969 |  | 5,344 |  | — | — | — | 85,296 |  |
| John C. Redett (4)         | 5,625 |  | — |  | — |  | — | — | — | 5,625 |  |
| Boyd C. Wilson, Jr.        | 55,607 |  | 4,969 |  | 5,344 |  | — | — | — | 65,920 |  |

|           |                                                             |
|-----------|-------------------------------------------------------------|
| (1)  | Mr. Adams resigned from the Board, effective June 25, 2014. |

|           |                                                                                                                                                                                |
|-----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2)  | Mr. Bresnan retired from the Board, effective August 15, 2014. The stock awards reflect 2,615 shares granted by the Company to Mr. Bresnan upon his retirement from the Board. |

|           |                                                                                                     |
|-----------|-----------------------------------------------------------------------------------------------------|
| (3)  | Mr. Kauffman’s earned director compensation was assigned to Oak Hill Capital Management, LLC. |

|           |                                                                                                                                        |
|-----------|----------------------------------------------------------------------------------------------------------------------------------------|
| (4)  | Mr. Redett does not accept any stock compensation for his service and his cash director compensation is assigned to The Carlyle Group. |

|           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|-----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (5)  | The Board awarded 594 shares of restricted stock to each outside director on the Board on January 30, 2014, and 143 shares of restricted stock to each outside director (with an additional share each issued to the Committee chairs and two additional shares issued to the Chair) on October 1, 2014. Stock awards disclosed in this column include shares of restricted stock, a portion of which vest on stock performance and a portion of which vest on various dates, in each case in equal installments over three years from the respective grant dates.  The values for these awards in this column represent the grant date fair value of the restricted stock awards granted in 2014, computed in accordance with FASB ASC Topic 718. |

|           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|-----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (6)  | Option awards disclosed in this column reflect 1,977 incentive stock options granted by the Board to each non-management director on October 1, 2014, a portion of which are time vested in equal installments over three years from the date of grant and a portion of which vest on stock performance.   The fair market value for these awards in this column is estimated as of the date of grant using either the Black-Scholes option pricing model or the Monte Carlo option pricing model, depending on the vesting terms, consistent with FASB ASC Topic 718. |

----

|                       |
|-----------------------|
|                       |  |  |  |
| Name                  | Age | Position in Company and Principal Occupation for last 5 years | Officer of Company Since |
| Robert L. Reid        | 59 | President and Chief Executive Officer, Company and CommunityOne Bank since October 2014; President, Company and CommunityOne Bank October 2011-September 2014; President, Bank of Granite Corp. and Bank of Granite, October 2011- June 2013; Independent Consultant, Company and CommunityOne Bank, October 2010 – October 2011; Executive Vice President/Managing Director, Real Estate Division, Wachovia Corp., 2009; President, Retirement and Investment Products Group, Wachovia Corp., 2003 – 2008. | October 2011 |
| David L. Nielsen      | 50 | Executive Vice President and Chief Financial Officer, Company and CommunityOne Bank since October 2011; Executive Vice President and Chief Financial Officer, Bank of Granite Corporation and Bank of Granite, October 2011 – June 2013; Independent Consultant, Company and CommunityOne Bank, October 2010 – October 2011; Executive Vice President and Group Risk Officer for Wholesale Banking, Wells Fargo Corp., 2008-2010;  Managing Director and Chief Operating Officer, Global Markets and Investment Banking, Wachovia Corp., 2006-2008. | October 2011 |
| Deborah B. Auman      | 58 | Executive Vice President and Chief Human Resources Officer, Company since April 2014 and CommunityOne Bank since October 2011; Senior Vice President and Chief Human Resources Officer, CommunityOne Bank, 2001 - October 2011. | April 2014 |
| Beth S. DeSimone      | 55 | Executive Vice President, General Counsel and Secretary, Company and CommunityOne Bank since November 2011; Executive Vice President, General Counsel and Secretary, Bank of Granite Corporation and Bank of Granite, November 2011- June 2013; Counsel, Arnold & Porter, LLP, Washington, D.C. 1986-2011. | November 2011 |
| Neil A. Machovec      | 59 | Chief Credit Officer, Company and CommunityOne Bank since March 2013; Chief Credit Officer, Bank of Granite Corporation and Bank of Granite, March 2013 – June 2013; Commercial Risk Executive, CommunityOne Bank, November 2011-March 2013;  Senior Vice President and Credit Manager, Bank of America, 2007-November 2011. | March 2013 |
| Angus M. McBryde, III | 52 | Executive Vice President and Treasurer, Company and CommunityOne Bank since October 2011; Executive Vice President and Treasurer, Bank of Granite Corporation and Bank of Granite, October 2011 – June 2013; Independent Consultant, Company and CommunityOne Bank, October 2010 - October, 2011; Senior Vice President, Treasury, Wachovia Corp., 2007 - 2009. | October 2011 |
| Gregory P. Murphy     | 67 | Executive Vice President and Chief Workout Officer, Company and CommunityOne Bank since October 2013; Executive Vice President and Chief Workout Officer, Bank of Granite Corporation and Bank of Granite, October 2011 – June 2013; Independent Consultant, Bank of Granite, Company and CommunityOne Bank- September 2010 - October 2011;  Managing Director, Helix Financial, LLC 2009-2010; Managing Director, CRG Partners, 2007-2008 (both managers of distressed assets). | October 2011 |
| Margaret B. Norris    | 58 | Executive Vice President and Chief Operating Officer, Company and CommunityOne Bank since November 2014; Executive Vice President, Operations, Technology and Integration Manager, CommunityOne Bank, September 2012-November 2014; Senior Vice President, Integration and Stabilization Manager, CommunityOne Bank, October 2011-September 2012; Independent Consultant, Dover Mortgage Co., February 2011-October 2011; Senior Vice President, Wholesale Merger Conversion Event Manager, Wells Fargo Corp./Wachovia Corp., March 2009-July 2010; Various positions with Wachovia Corp., 1984-2009. | November 2014 |

----

|         |                           |
|---------|---------------------------|
| • | 1st - Risk Management |

|         |                         |
|---------|-------------------------|
| • | 2nd - Profitability |

|         |                  |
|---------|------------------|
| • | 3rd - Growth |

|         |                |
|---------|----------------|
| • | Base salaries; |

|         |                                           |
|---------|-------------------------------------------|
| • | Short-term (cash) Performance Incentives; |

|         |                                                                                 |
|---------|---------------------------------------------------------------------------------|
| • | Long-term equity awards under the Amended and Restated 2012 Incentive Plan; and |

|         |                         |
|---------|-------------------------|
| • | Certain other benefits. |

----

----

----

|         |                                                                                                                                                                                                                                                                                                                                                                                          |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | A prohibition of the payment or accrual of any “bonus, retention award, or incentive compensation” to the five most highly-compensated employees for as long as any TARP related obligations are outstanding, subject to an exception for “long-term restricted stock” that meets certain requirements imposed under TARP (the “Bonus Prohibition”); |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Prohibition on any payment to any Senior Executive Officer (“SEOs,” i.e., the Named Executive Officers) or any of the next five most highly-compensated employees upon a change in control or upon termination of employment for any reason for as long as any TARP obligations remain outstanding (collectively, “Golden Parachute Payment Prohibition;”  a golden parachute payment is used to describe any payment to an SEO in consequence of a departure from Company for any reason, except for payments for services performed or benefits accrued). |

|         |                                                                                                                                                                                                                                                       |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Recovery  or “clawback” of any bonus or other incentive payment made on the basis of materially inaccurate financial or other performance criteria that is paid to the next 20 most highly-compensated employees in addition to the SEOs; |

|         |                                                                                                                                                                                                                                      |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | A requirement that the Chief Executive Officer and Chief Financial Officer provide a written certification in the Company’s annual filings with the SEC of compliance with the executive compensation restrictions under TARP; |

|         |                                                                                     |
|---------|-------------------------------------------------------------------------------------|
| • | Implementation of a company-wide policy regarding excessive or luxury expenditures; |

|         |                                                                                                                                                                                            |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Limits on tax deduction for compensation paid to the Chief Executive Officer, Chief Financial Officer or any of the three most highly-compensated executive officers of $500,000 annually; |

|         |                                                                                                                                         |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------|
| • | Prohibition on payment of tax gross-ups to any SEO or any of the next 20 most highly-compensated employees in addition to the SEOs; and |

----

|         |                                                                                                                                                                                                       |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Inclusion in a participant’s proxy statements for annual shareholder meetings of a non-binding “say on pay” proposal to allow a shareholder vote to approve executive compensation. |

----

|                                       |
|---------------------------------------|
|                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Name and Principal Position           | Year | Salary ($) | Bonus ($) (1) | Stock Awards ($) (2) | Option Awards ($) (3) | Non-Equity Incentive Plan Compensation ($) | Change in Pension Value and Nonqualified Deferred Compensation Earnings ($) | All Other Compensation ($) (4) | Total ($) |
| Robert L. Reid                        | 2014 | 481,250 |  | — |  | 188,729 |  | 140,258 |  | — |  | — |  | 9,805 |  | 820,042 |  |
| President and Chief Executive Officer | 2013 | 475,000 |  | — |  | 202,071 |  | — |  | — |  | — |  | 9,805 |  | 686,876 |  |
| 2012                                  | 475,000 |  | — |  | 237,500 |  | — |  | — |  | — |  | 9,532 |  | 722,032 |  |
| David L. Nielsen                      | 2014 | 475,000 |  | — |  | 188,729 |  | 140,258 |  | — |  | — |  | 15,000 |  | 818,987 |  |
| Chief Financial Officer               | 2103 | 475,000 |  | — |  | 202,071 |  | — |  | — |  | — |  | 15,000 |  | 692,071 |  |
| 2012                                  | 475,000 |  | — |  | 237,500 |  | — |  | — |  | — |  | 14,325 |  | 726,825 |  |
| Beth S. DeSimone                      | 2014 | 400,000 |  | — |  | 47,121 |  | 93,509 |  | — |  | — |  | 7,800 |  | 548,430 |  |
| General Counsel                       | 2013 | 400,000 |  | — |  | 140,768 |  | — |  | — |  | — |  | 7,800 |  | 548,568 |  |
|                                  | 2012 | 400,000 |  | — |  | 200,000 |  | — |  | — |  | — |  | 7,500 |  | 607,500 |  |
| Angus M. McBryde, III                 | 2014 | 350,000 |  | — |  | 204,243 |  | 93,509 |  | — |  | — |  | 7,693 |  | 655,445 |  |
| Treasurer                             | 2013 | 350,000 |  | — |  | 174,994 |  | — |  | — |  | — |  | 5,257 |  | 530,251 |  |
|                                  | 2012 | 350,000 |  | — |  | 174,997 |  | — |  | — |  | — |  | 5,206 |  | 530,204 |  |
| Gregory P. Murphy                     | 2014 | 350,000 |  | — |  | 21,245 |  | 93,509 |  | — |  | — |  | 7,800 |  | 472,554 |  |
| Chief Workout Officer                 | 2013 | 350,000 |  | 100,000 |  | 158,902 |  | — |  | — |  | — |  | 7,800 |  | 616,702 |  |
| 2012                                  | 250,000 |  | — |  | 124,990 |  | — |  | — |  | — |  | 7,146 |  | 382,136 |  |
| Brian E. Simpson (5)             | 2014 | 375,000 |  | — |  | — |  | — |  | — |  | — |  | 2,035,934 |  | 2,410,934 |  |
| Chief Executive Officer               | 2013 | 500,000 |  | — |  | 250,000 |  | — |  | — |  | — |  | — |  | 750,000 |  |
| 2012                                  | 500,000 |  | — |  | 250,000 |  | — |  | — |  | — |  | 9,798 |  | 759,798 |  |

|           |                                                                                                                                                                                                     |
|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)  | No bonuses were awarded to the Named Executive Officers during 2012, 2013 or 2014, consistent with the compensation rules of the TARP. Gregory P. Murphy was not a Named Executive Officer in 2013. |

|           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2)  | Pursuant to the 2012 Incentive Plan, a total of 110,059 shares of long term restricted stock were granted by the Board to the top six officers of the Company on December 28, 2012, valued at the closing price of Company Common Stock on the grant date.  An additional 110,387 shares of long term restricted stock were granted by the Board to the top six officers of the Company pursuant to the Amended and Restated 2012 Incentive Plan on December 19, 2013, valued at the closing price of Company Common Stock on the grant date.  Under the terms of a portion of the 2012 and 2013 awards, 2/3rds of the restricted stock vest on the second anniversary of the date of grant and the final 1/3 of the stock vest on the third anniversary of the date of grant. The remainder of the awards require the Company Common Stock to reach stock price targets over a twenty day period of $22.00, $24.00, $30.00 and $36.00 per share of Common Stock, with 25% of the performance awards vesting at each price point (except that no shares may vest in the two years following the grant date).  On January 30, 2014, a total of 107,086 shares of restricted stock were issued under the management incentive plan of the Amended and Restated 2012 Incentive Plan to the Named Executive Officers of the Company, a portion of which were time vested only and were valued at the closing of the Company’s Common Stock on the grant date, and the remainder of which require the Company Common Stock to reach stock price targets of $22.00, $24.00, $30.00 and $36.00 per share of Common Stock, with 25% of the performance awards vesting at each price point. The Company canceled 267,937 shares of restricted stock awarded to certain of the Named Executive Officer in connection with the U.S. Treasury sale of the shares it owned in the Company on May 23, 2014.  On October 1, 2014, a total of 78,614 shares of restricted stock were issued pursuant to the management incentive plan of the Amended and Restated 2012 Incentive Plan to the Named Executive Officers, a portion of which were time vested only and were valued at the closing of the Company’s Common Stock on the grant date and a portion of which require the Company Common Stock to reach stock price targets over a ten day period of $22.00 and $24.00 per share of Common Stock, with 50% of the performance awards vesting at each price point. |

----

|           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|-----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (3)  | Pursuant to the management incentive plan of the Amended and Restated 2012 Incentive Plan, a total of 207,538 incentive stock options were granted by the Board to the Named Executive Officers on October 1, 2014.  One half of the options were time vested only and were valued as of the date of grant using the Black-Scholes option pricing model.  The remainder of the option grants require the Company Common Stock to reach stock price targets over a ten day period of $22.00 and $24.00 per share of Common Stock, with 50% of the performance awards vesting at each price point, and were valued as of the date of grant using the Monte Carlo option pricing model.  No stock options were granted to the Named Executive Officers in 2012 or 2013. |

|           |                                                                                                                                      |
|-----------|--------------------------------------------------------------------------------------------------------------------------------------|
| (4)  | All Other Compensation for 2014 for the Named Executive Officers includes the total of the following benefits and perquisites:   |

|                                       |
|---------------------------------------|
|                                       |  |  |  |  |  |  |  |  |
| Name and principal position           | Automobile Allowance($) | Employer 401(k)($) | Severance Payment($) | Total($) |
| Robert L. Reid                        | 2,005 |  | 7,800 |  | — |  | 9,805 |  |
| President and Chief Executive Officer |   |   |   |   |
| David L. Nielsen                      | 7,200 |  | 7,800 |  | — |  | 15,000 |  |
| Chief Financial Officer               |   |   |   |   |
| Beth S. DeSimone                      | — |  | 7,800 |  | — |  | 7,800 |  |
| General Counsel                       |   |   |   |   |
| Angus M. McBryde, III                 | — |  | 7,693 |  | — |  | 7,693 |  |
| Treasurer                             |   |   |   |   |
| Gregory P. Murphy                     | — |  | 7,800 |  | — |  | 7,800 |  |
| Chief Workout Officer                 |   |   |   |   |
| Brian E. Simpson                      | 2,134 |  | 7,800 |  | 2,026,000 |  | 2,035,934 |  |
| Chief Executive Officer               |   |   |   |   |

|           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|-----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (5)  | Mr. Simpson left the Company and the Bank effective September 30, 2014 and resigned from the Board of Directors of the Company and the Bank effective the same date.  In connection with Mr. Simpson’s departure, the Bank and Mr. Simpson entered into a Separation Agreement, dated as of September 11, 2014 (the “Separation Agreement”) and a Consulting Agreement dated the same date (the “Consulting Agreement”). Pursuant to the Separation Agreement, Mr. Simpson received a severance payment of $2.0 million.  Under the Consulting Agreement, Mr. Simpson agreed to assist the Company in matters as may be requested by the President and Chief Executive Officer of the Company for a period of two years at an annual consulting fee of $125,000. The Separation Agreement provides that the $2.0 million severance payment and the Consulting Agreement are both conditioned upon Mr. Simpson executing a release agreement in the form attached to the Separation Agreement.  In addition, the Separation Agreement subjects Mr. Simpson to various restrictive covenants, including a two-year covenant relating to non-solicitation and non-competition, as well as maintaining confidentiality.  All of Mr. Simpson’s stock awards were canceled in connection with the sale by the U.S. Treasury of the stock it owned in the Company. |

|                       |
|-----------------------|
|                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Name                  | Grant Date | Estimated future payouts under non-equity incentive plan awards | Estimated future payouts under equity incentive plan awards | All other stock awards: Number of shares of stock or units (#) | All other option awards: Number of securities under-lying options (#) | Exercise or base price of option awards                                                                     ($/Sh) | Grant date fair value of stock and option awards($) (2) |
| Threshold($)          | Target($) | Max($) | Threshold($) | Target($) (1) | Max($) |
| Robert L. Reid        | 10/1/2014 | — |  | — |  | — |  | — |  | 65,761 |  | — |  | 17,295 |  | 34,589 |  | 16.00 |  | 263,226 |  |
| David L. Nielsen      | 10/1/2014 | — |  | — |  | — |  | — |  | 65,761 |  | — |  | 17,295 |  | 34,589 |  | 16.00 |  | 263,226 |  |
| Beth S. DeSimone      | 10/1/2014 | — |  | — |  | — |  | — |  | 43,843 |  | — |  | 2,546 |  | 23,060 |  | 16.00 |  | 96,787 |  |
| Angus M. McBryde, III | 10/1/2014 | — |  | — |  | — |  | — |  | 27,437 |  | — |  | 11,530 |  | 23,060 |  | 16.00 |  | 175,487 |  |
|                  | 1/30/2014 | — |  | — |  | — |  | — |  | 94,828 |  | — |  | — |  | — |  | — |  | — |  |
| Gregory P. Murphy     | 10/1/2014 | — |  | — |  | — |  | — |  | 40,270 |  | — |  | — |  | 23,060 |  | 16.00 |  | 74,484 |  |

----

|           |                                                                                                                              |
|-----------|------------------------------------------------------------------------------------------------------------------------------|
| (1)  | This column represents the value of the performance based restricted stock and options held by each Named Executive Officer. |

|           |                                                                                                                       |
|-----------|-----------------------------------------------------------------------------------------------------------------------|
| (2)  | This column represents the value of the time based restricted stock and options held by each Named Executive Officer. |

----

|                       |
|-----------------------|
|                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Name                  |   | Option awards | Stock Awards |
| Grant Date            | Number of securities underlying unexercised options exercisable (#) | Number of securities underlying unexercised options unexer-cisable (#) | Equity incentive plan awards: number of securities underlying unexercised unearned options (#) | Option exercise price ($/Sh) | Option expiration date | Number of shares or units of stock that have not vested                     (#) (1) | Market value of shares or units of stock that have not vested ($) (2) | Equity incentive plan awards: number of unearned shares, units or other rights that have not vested (#) (3) | Equity incentive plan awards: market or payout value of unearned shares, units or other rights that have not vested ($) (4) |
| Robert L. Reid        | 12/28/12 | — |  | — |  | — |  | — |  |   | — |  | — |  | — |  | — |  |
|                  | 12/19/13 | — |  | — |  | — |  | — |  |   | — |  | — |  | — |  | — |  |
|                  | 01/30/14 | — |  | — |  | — |  | — |  |   | — |  | — |  | — |  | — |  |
|                  | 10/01/14 | — |  | 34,589 |  | 17,295 |  | 16.00 |  | 10/01/24 | 17,295 |  | 198,028 |  | 8,647 |  | 99,008 |  |
| David L. Nielsen      | 12/28/12 | — |  | — |  | — |  | — |  |   | — |  | — |  | — |  | — |  |
|                  | 12/19/13 | — |  | — |  | — |  | — |  |   | — |  | — |  | — |  | — |  |
|                  | 01/30/14 | — |  | — |  | — |  | — |  |   | — |  | — |  | — |  | — |  |
|                  | 10/01/14 |   | 34,589 |  | 17,295 |  | 16.00 |  | 10/01/24 | 17,295 |  | 198,028 |  | 8,647 |  | 99,008 |  |
| Beth S. DeSimone      | 12/28/12 | — |  | — |  | — |  | — |  |   | 5,990 |  | 68,586 |  | — |  | — |  |
|                  | 12/19/13 | — |  | — |  | — |  | — |  |   | — |  | — |  | — |  | — |  |
|                  | 01/30/14 | — |  | — |  | — |  | — |  |   | — |  | — |  | — |  | — |  |
|                  | 10/01/14 | — |  | 23,060 |  | 11,530 |  | 16.00 |  | 10/01/24 | 2,546 |  | 29,152 |  | 5,765 |  | 66,009 |  |
| Angus M. McBryde, III | 12/28/12 | — |  | — |  | — |  | — |  |   | — |  | — |  | — |  | — |  |
|                  | 12/19/13 | — |  | — |  | — |  | — |  |   | — |  | — |  | — |  | — |  |
|                  | 01/30/14 | — |  | — |  | — |  | — |  |   | — |  | — |  | 15,245 |  | 174,555 |  |
|                  | 10/01/14 | — |  | 23,060 |  | 11,530 |  | 16.00 |  | 10/01/24 | 11,530 |  | 132,019 |  | 1,954 |  | 22,373 |  |
| Gregory P. Murphy     | 12/28/12 | — |  | — |  | — |  | — |  |   | 3,744 |  | 42,869 |  |   |   |
|                  | 12/19/13 | — |  | — |  | — |  | — |  |   | 11,830 |  | 135,454 |  | 3,321 |  | 38,025 |  |
|                  | 01/30/14 | — |  | — |  | — |  | — |  |   | — |  | — |  | — |  | — |  |
|                  | 10/01/14 | — |  | 23,060 |  | 11,530 |  | 16.00 |  | 10/01/24 | — |  | — |  | 4,935 |  | 56,506 |  |

|           |                                                                                                                                                                                                                                                                                                                           |
|-----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)  | Certain restricted stock awards granted on December 28, 2012, December 19, 2013 and January 30, 2014 to the Named Executive Officers were canceled on May 27, 2014.  The table reflects the restricted stock awards that remain outstanding to the individual Named Executive Officer after cancellation of those awards. |

|           |                                                                                                                                                                                              |
|-----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2)  | The amounts in this column were computed by multiplying the price per share ($11.45) on the last day of the Company’s fiscal year (December 31, 2014) by the number of shares awarded. |

|           |                                                                                                                                                                                                                                                                                                                                                                                                          |
|-----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (3)  | On October 1, 2014, the following Named Executive Officer each were issued awards of restricted stock with a per share price of $8.76 on the date of grant, in the amounts indicated in the table.  These awards vest as the Company's Common Stock reaches stock price targets over a ten day period of $22.00 and $24.00 per share of Common Stock, with 50% of the award vesting at each price point. |

|           |                                                                                                                                        |
|-----------|----------------------------------------------------------------------------------------------------------------------------------------|
| (4)  | The amounts in this column were computed by multiplying the fair value per share on December 31, 2014 by the number of shares awarded. |

----

|                                                                 |
|-----------------------------------------------------------------|
|                                                                 |  |  |  |  |  |  |  |
| Plan Category                                                   | Number of Securities to Be Issued upon Exercise of Outstanding Options, Warrants and Rights(#) | Weighted-Average Exercise Price of Outstanding Options, Warrants and Rights($/Sh) | Number of Securities Remaining Available for Future Issuance under Equity Compensation Plans (1)(#) |
| Equity Compensation Plans Approved by Shareholders              | 303,272 |  | 14.33 |  | 1,686,782 |  |
| Equity Compensation Plans Not Approved by Shareholders (2) | — |  | — |  | — |  |
| Total                                                           | 303,272 |  | 14.33 |  | 1,686,782 |  |

|           |                                                                                                                                                                                                                                                                                       |
|-----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)  | The number of securities remaining available for issuance at December 31, 2014 excludes the number of securities to be issued upon exercise of any outstanding options and reflects 1,686,782 securities issuable under the Company’s Amended and Restated 2012 Incentive Plan. |

|           |                                                                                                                               |
|-----------|-------------------------------------------------------------------------------------------------------------------------------|
| (2)  | There were no equity compensation plans at December 31, 2014 that have not been approved by the Company’s shareholders. |

|                       |
|-----------------------|
|                       |  |  |  |  |  |  |  |  |
|             | Option Awards | Stock Awards |
| Name                  | Number of Shares Acquired on Exercise (#) | Value Realized on Exercise ($) | Number of Shares Acquired on Vesting (#) | Value Realized on Vesting ($) (1) |
| Robert L. Reid        | — |  | — |  | — |  | — |  |
| David L. Nielsen      | — |  | — |  | — |  | — |  |
| Beth S. DeSimone      | — |  | — |  | 11,979 |  | 136,261 |  |
| Angus M. McBryde, III | — |  | — |  | — |  | — |  |
| Gregory P. Murphy     | — |  | — |  | 7,486 |  | 85,153 |  |

----

|                                                                                           |
|-------------------------------------------------------------------------------------------|
|                                                                                           |  |  |  |  |  |  |  |  |
|   Compensation and/or Benefits Payable Upon Termination               | Multiple of Salary($) | Value of Vesting Nonstatutory Stock Options ($) | Restricted Stock Awards ($) | Total Value of Payments ($) |
| Robert L. Reid                                                                            |   |   |   |   |
| President and Chief Executive Officer                                                     |   |   |   |   |
| Termination by COB Without Cause or by the Executive for Good Reason for Other Than a CIC | 1,000,000 |  | 182,632 |  | 297,036 |  | 1,479,668 |  |
| Termination by COB Without Cause by the Executive for Good Reason for a CIC               | 2,000,000 |  | 182,632 |  | 297,036 |  | 2,479,668 |  |
| Death or Disability                                                                       | — |  | — |  | 99,008 |  | 99,008 |  |
| David L. Nielsen                                                                          |   |   |   |   |
| Executive Vice President and Chief Financial Officer                                      |   |   |   |   |
| Termination by COB Without Cause or by the Executive for Good Reason for Other Than a CIC | 950,000 |  | 182,632 |  | 297,036 |  | 1,429,668 |  |
| Termination by COB Without Cause by the Executive for Good Reason for a CIC               | 1,900,000 |  | 182,632 |  | 297,036 |  | 2,379,668 |  |
| Death or Disability                                                                       | — |  | — |  | 99,008 |  | 99,008 |  |
| Beth S. DeSimone                                                                          |   |   |   |   |
| Executive Vice President, Secretary, General Counsel                                      |   |   |   |   |
| Termination by COB Without Cause or by the Executive for Good Reason for Other Than a CIC | 800,000 |  | 121,757 |  | 163,746 |  | 1,085,503 |  |
| Termination by COB Without Cause by the Executive for Good Reason for a CIC               | 1,600,000 |  | 121,757 |  | 163,746 |  | 1,885,503 |  |
| Death or Disability                                                                       | — |  | — |  | 100,302 |  | 100,302 |  |
| Angus M. McBryde, III                                                                     |   |   |   |   |
| Executive Vice President and Treasurer                                                    |   |   |   |   |
| Termination by COB Without Cause or by the Executive for Good Reason for Other Than a CIC | 700,000 |  | 121,757 |  | 328,947 |  | 1,150,704 |  |
| Termination by COB Without Cause by the Executive for Good Reason for a CIC               | 1,400,000 |  | 121,757 |  | 328,947 |  | 1,850,704 |  |
| Death or Disability                                                                       | — |  | — |  | 109,634 |  | 109,634 |  |
| Gregory P.  Murphy                                                                        |   |   |   |   |
| Executive Vice President and Chief Workout Officer                                        |   |   |   |   |
| Termination by COB Without Cause or by the Executive for Good Reason for Other Than a CIC | 733,333 |  | 121,757 |  | 272,854 |  | 1,127,944 |  |
| Termination by COB Without Cause by the Executive for Good Reason for a CIC               | 1,400,000 |  | 121,757 |  | 272,854 |  | 1,794,610 |  |
| Death or Disability                                                                       | — |  | — |  | 119,527 |  | 119,527 |  |

----

|         |                                                                                                                                                                    |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | A material diminution in the executive’s duties and responsibilities or authority or any material adverse change in the executive’s base compensation; |

|         |                                                                                                                                                                                                                                |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | A relocation of the executive’s primary work location more than thirty (30) miles from Asheboro, North Carolina (other than any relocation to Charlotte, North Carolina or a location within thirty (30) miles thereof); |

|         |                                                                                       |
|---------|---------------------------------------------------------------------------------------|
| • | A material breach of the Employment Agreement by the Company or CommunityOne Bank; or |

|         |                                    |
|---------|------------------------------------|
| • | A “Change in Control.” |

|         |                                                                                                                                                                                                                                                                                                                                                                                                            |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | any person (other than an employee benefit plan of the Company or its affiliates; or either anchor investor in the Recapitalization) is or becomes the beneficial owner of more than 25% of the Company’s voting stock, if at such time, the voting power of the stock owned by that person exceeds the voting power represented by the stock owned by the anchor investors in the Recapitalization; |

|         |                                                                                                                                                                                                                                                                                                                                                           |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | the Company consummates a merger, consolidation, share, exchange, division or other reorganization or transaction with any other corporation, other than a transaction that results in the Company’s voting securities continuing to represent at least 60% of the combined voting power of the surviving entity immediately after the transaction; |

|         |                                                                                                       |
|---------|-------------------------------------------------------------------------------------------------------|
| • | the Company’s shareholders approve a plan of complete liquidation or winding up of the Company; |

|         |                                                                                                         |
|---------|---------------------------------------------------------------------------------------------------------|
| • | the consummation of a sale or disposition of all or substantially all of the Company’s assets; or |

|         |                                                                                                                                                                                                    |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | during any 24 consecutive month period, individuals who at the beginning of such period constituted the Company’s Board cease for any reason to constitute at least a majority of the Board. |

|         |                                                                                                                                                                                                             |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | In the event of retirement, death or disability occurring within the twelve-month period prior to the second anniversary of the grant date, the participant will become vested in two thirds of the awards. |

|         |                                                                                                                                                                                                              |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | In the event of retirement, death or disability occurring within the twelve-month period prior to the third anniversary of the grant date, the participant will become immediately vested in the full award. |

|         |                                                                                                                                 |
|---------|---------------------------------------------------------------------------------------------------------------------------------|
| • | In the event of termination for “good reason” or without cause, any unvested awards will become immediately vested. |

|         |                                                                                                                                 |
|---------|---------------------------------------------------------------------------------------------------------------------------------|
| • | Any portion of the executive’s award that is unvested in the event of a Change in Control will become immediately vested. |

|         |                                                                                                                                                                                                                       |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | In the event of retirement, death or disability occurring within the twelve-month period prior to the first anniversary of the grant date, the participant will become immediately vested in one third of the awards. |

|         |                                                                                                                                                                                                                         |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | In the event of retirement, death or disability occurring within the twelve-month period prior to the second anniversary of the grant date, the participant will become immediately vested in two thirds of the awards. |

|         |                                                                                                                                                                                                              |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | In the event of retirement, death or disability occurring within the twelve-month period prior to the third anniversary of the grant date, the participant will become immediately vested in the full award. |

----

|         |                                                                                                                                 |
|---------|---------------------------------------------------------------------------------------------------------------------------------|
| • | In the event of termination for “good reason” or without cause, any unvested awards will become immediately vested. |

|         |                                                                                                                                 |
|---------|---------------------------------------------------------------------------------------------------------------------------------|
| • | Any portion of the executive’s award that is unvested in the event of a Change in Control will become immediately vested. |

|         |                                                                                                                                                           |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | In the event of retirement, death or disability, the participant shall be treated as continuing to be employed under the expiration of the option period; |

|         |                                                                                                                                                                    |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | In the event of termination by the Company without cause or by the participant for “good reason,” any unvested options will become immediately vested. |

|         |                                                                                          |
|---------|------------------------------------------------------------------------------------------|
| • | In the event of a Change in Control any unvested options will become immediately vested. |

|         |                                                                                                                                                                     |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | A material diminution in the executive’s duties and responsibilities or authority, or any material adverse change in the executive’s base compensation; |

|         |                                                                                                                                                                                                                       |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | A relation of the executive’s primary work location more than thirty miles from Asheboro, North Carolina (other than any relocation to Charlotte, North Carolina or a location within thirty miles thereof); or |

|         |                                                                                                   |
|---------|---------------------------------------------------------------------------------------------------|
| • | Any material breach of the grant agreement by the Company, subject in each case to a cure period. |

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|     |                                                                                                                                                                                                                                     |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | It reviewed with senior risk officers the SEO compensation plans and has made all reasonable efforts to ensure that the plans do not encourage SEOs to take unnecessary and excessive risks that threaten the value of the Company; |

|     |                                                                                                                                                                               |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | It reviewed with senior risk officers the employee compensation plans and has made all reasonable efforts to limit any unnecessary risks these plans pose to the Company; and |

|     |                                                                                                                                                                                                             |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (3) | It reviewed the employee compensation plans to eliminate any features of these plans that would encourage the manipulation of reported earnings of the Company to enhance the compensation of any employee. |

|     |                                                                                                                                      |
|-----|--------------------------------------------------------------------------------------------------------------------------------------|
| (1) | do not encourage the Senior Executive Officers to take unnecessary and excessive risks that could threaten the value of the Company; |

|     |                                                                                                                                                |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | are structured to limit the plans’ potential for generating unacceptable risk that could materially affect the value of the Company; and |

|     |                                                                                                                       |
|-----|-----------------------------------------------------------------------------------------------------------------------|
| (3) | are not structured to created substantial opportunities to benefit due to material manipulation of financial results. |

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