First Bancorp in N.C. to buy Central State.

TROY, N.C. - First Bancorp said it had agreed in principle to buy Central State Bank of High Point, N.C., for about $6.9 million of stock.

First Bancorp said the merger was subject to approval of Central State shareholders. The transaction is expected to be completed by May. Central State had assets of $35 million on Sept. 30.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER