GOLDSBORO, N.C. - East Coast Savings Bank voted to convert the mutual thrift to a stock state savings bank while merging with Southern National Corp., a $5.2 billion bank holding company.

East Coast Savings said Southern National, which has received all preliminary regulatory approvals, expects to complete the merger on Oct. 7.

The company said the subscription period for purchasing Southern National stock has been completed.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.