WASHINGTON - Centura Banks Inc. agreed to sell 18 North Carolina branches with roughly $315 million in deposits to gain government approval of its merger with Triangle Bancorp., the Justice Department said Monday.

"These divestitures will assure that local customers, particularly small businesses, continue to have competitively priced banking services," said Joel I. Klein, the assistant attorney general in charge of antitrust matters.

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.