Banca Tercas, formerly known as Cassa di Risparmio della Provincia di Teramo was an Italian savings bank based in Teramo, Abruzzo. On 1 January 2011 the bank purchased fellow savings bank Banca Caripe from Banco Popolare. The enlarged banking group was also referred as Tercas Caripe. However, Tercas was acquired by Banca Popolare di Bari (BP Bari) in 2014, which in turn Tercas and Caripe became part of the BP Bari Group as divisions. A spin off organization of the bank, Fondazione Cassa di Risparmio della Provincia di Teramo or Fondazione Tercas, still operates as a charity organization and independent from Banca Popolare di Bari.
History
Cassa di Risparmio della Provincia di Teramo was found on 12 October 1939[1] (date of royal decree) by the merger of Casse di Risparmio di Atri and Casse di Risparmio di Nereto. On 24 June 1992, the bank was split into Tercas S.p.A. and a banking foundation. The banking foundation owned 80% shares of the società per azioni (company limited by shares), while one of the leading savings bank Cassa di Risparmio delle Provincie Lombarde (Cariplo) owned the rest of shares or 20%.[2]