In 1992 the cooperative society spin off their bank activity to form a "company limited by shares" (società per azioni): Banca Popolare di Spoleto S.p.A.; the controlling interests was acquired by Credito Italiano (50.71% in 1998), and the original cooperative society was renamed to "Popolare Spoleto - Credito e Servizi".

[4] As at 31 December 1998 Spoleto Credito e Servizi was the major shareholders of 53.110%, followed by Banca Monte dei Paschi di Siena (Banca MPS) (and its subsidiary Monte Paschi Vita) for 25.956%.

[6] From February 2013[7][8] to 31 July 2014 it was under extraordinary administration by the Ministry of Economy and Finance.

On 1 April 2014 Banco di Desio e della Brianza subscribed the capital increases of the bank for €140 million, making former largest shareholder, Spoleto Credito e Servizi Soc.

In 2017, due to less than 10% shares being owned by the public, the bank ceased to be a listed company.