Bank of the Carolinas Corp. in Mocksville, N.C., said it would acquire Randolph Bank and Trust Co. in Asheboro.
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The stock deal was announced Friday. The price works out to about $36.4 million, according to Bank of the Carolinas' closing price of $13.84 a share Thursday. The $473 million-asset Bank of the Carolinas has nine branches. The $277 million-asset Randolph has seven: two in Alamance County, where Bank of the Carolinas has none, and five in Randolph County, where it has one.
