WILSON, N.C. -- The boards of BB&T Financial Corp. and Carolina Savings Bank of Wilmington, N.C., have approved BB&T's plan to acquire the thrift.
The proposed merger, which involves conversion of Carolina Savings from depositor to stockholder ownership, remains subject to regulatory approvals and a majority vote of Carolina Savings depositors.
BB&T, a $6.5 billion-asset holding company, said it intends to merge Carolina Savings into its lead bank, Branch Banking and Trust Co. of Wilson. Carolina Savings has five offices and $153 million in assets.
