Two N.C. community banks tying up in $97M deal

Greensboro-based Carolina Bank Holdings Inc. is being acquired by Southern Pines-based First Bancorp, the parent of First Bank, in a deal valued at $97.3 million. The cash-and-stock transaction, which amounts to $19.26 per share, is expected to close in the fourth quarter of 2016 or first quarter of 2017 and is subject to customary conditions, including regulatory approval and approval by Carolina Bank Holdings' shareholders. The definitive merger agreement has been unanimously approved by the boards…

from Charlotte Business News - Local Charlotte News | Charlotte Business Journal http://www.bizjournals.com/charlotte/news/2016/06/22/two-n-c-community-banks-tying-up-in-97m-deal.html?ana=RSS%26s=article_search