RALEIGH, N.C. - First Citizens BancShares said it would acquire First Savings Bank of Rockingham County and consolidate it into First Citizens. First Savings would be converted from mutual ownership into a stock company.
The companies said the deal - scheduled for completion in the first quarter of 1994 - requires approval by regulators and a majority of First Savings' eligible members.
First Citizens said it also plans to purchase two Rockingham County offices of NationsBank Corp.