RALEIGH, N.C. - First Citizens BancShares said it would acquire First Savings Bank of Rockingham County and consolidate it into First Citizens. First Savings would be converted from mutual ownership into a stock company.

The companies said the deal - scheduled for completion in the first quarter of 1994 - requires approval by regulators and a majority of First Savings' eligible members.

First Citizens said it also plans to purchase two Rockingham County offices of NationsBank Corp.

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