WILSON, N.C. -- Mutual Savings Bank of Rockingham County said it received approval from the North Carolina Savings Institution Division to convert from a state-chartered mutual savings bank to a state-chartered stock savings bank and become a unit of BB&T Financial Corp.

Mutual Savings, based in Reidsville, N.C., said it will be merged or consolidated with Branch Banking and Trust Co., a unit of BB&T, after the acquisition.

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