Community banking

First Community Buying Coddle Creek

Published August 04, 2008, 1:00 a.m. EDT

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Updated August 01, 2008, 6:50 p.m. EDT

1 Min Read

First Community Bancshares Inc. in Bluefield, Va., has a deal to buy Coddle Creek Financial Corp. in Mooresville, N.C., for $33.1 million.

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The deal, announced late Thursday, would expand the $2 billion-asset First Community's operations in the Charlotte area, where it has a loan production office. The $159 million-asset Coddle Creek is the holding company for Mooresville Savings Bank, which operates three branches in Mooresville, Huntersville, and Cornelius, N.C.

The deal is expected to close next quarter.

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