Two of the oldest institutions in North Carolina's Cleveland County have announced a deal that would create a $450 million-asset bank.

First National Bank of Shelby said last week that it plans to buy First Carolina Federal Savings Bank, Kings Mountain, for $15 million in cash. The deal is expected to close during the first quarter.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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