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News Breaks
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December 21, 2011
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| 17:18 EDT |  | NCBC |
| theflyonthewall.com: | New Century Bancorp agrees to sell two New Century Bank branches | | New Century Bancorp, the parent company of New Century Bank, and Lumbee Guaranty Bank, Pembroke, NC, jointly announced today that New Century Bank has entered into a definitive agreement to sell two of its branches to Lumbee Guaranty Bank. Terms of the agreement provide for Lumbee Guaranty Bank to acquire all the real property, equipment, and other selected assets associated with New Century Bank's Pembroke and Raeford branches, both located in North Carolina. Lumbee Guaranty Bank also agreed to assume all of the deposits associated with the two branches. New Century Bank will retain substantially all loans associated with the two branches. :theflyonthewall.com |
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