Paul Davis

First Bancorp in Southern Pines, N.C., and First Community Bancshares in Bluefield, Va., have agreed to exchange branches in two states.

Great Western and HF Financial spent nearly four months going back and forth over their merger's terms in the midst of a swoon in overall stock prices. Negotiations included at least six changes in the proposed price and five proposals for the termination fee.

HCSB Financial in Loris, S.C., said Jan Hollar would become its chief executive after a $45 million recapitalization led by Castle Creek Capital Partners.

Cordia said in a press release Tuesday that it sold its CordiaGrad platform to its Jack Zoeller, the $348 million-asset company's chief executive.

Summit Financial Group in Moorefield, W.Va., has agreed to buy Highland County Bankshares in Monterey, Va., for $21.8 million in cash. The deal is expected to close early in the third quarter.

A Malvern Bancorp director has resigned following a disagreement over one of the Paoli, Pa., company's clients.

Univest Corp. of Pennsylvania was negotiating to buy Fox Chase Bancorp when its stock plummeted in August. The decline prompted Fox Chase to seek other offers, while forcing Univest to adjust its proposal to prop up the deal value.

County Bank, the holding company for the $324 million-asset Lapeer County Bank & Trust, said in a press release that it will pay $20 million, or $27 a share, in stock for the parent of the $245 million-asset CSB Bank.

The Winston-Salem, N.C., regional banking company said the purchase of Swett & Crawford should boost its annual insurance revenue by $200 million, or 15%. The cash acquisition also represents a reallocation of the rest of BB&T's approved share repurchases under last year's CCAR.

Sandhills State Bank in Bassett, Neb., has agreed to buy Bank of Keystone in Keystone, Neb.