Fast-growing Triangle Bancorp has made a deal to acquire $60 million-asset Granville United Bank.
Triangle said last week that the deal, a stock swap valued at about $10 million, would boost its assets to nearly $900 million, making it the ninth-largest bank in North Carolina.
Assuming shareholder and regulatory approval, the tax-free transaction would be completed by the end of the year.
Granville, which operates three offices, was founded six years ago. Triangle operates 38 offices in the state.
The announcement follows a string of deals in the last two years for Triangle. Last month the company said it plans to buy $62 million-asset Village Bank in Chapel Hill. It also bought three eastern North Carolina branches of Charlotte- based NationsBank Corp. last month.
Five years ago, Triangle was the 36th-largest bank in the state.