ELIZABETH, Tenn. - Citco Community Bancshares Inc. said Wednesday that it has agreed to buy Twin City Bancorp Inc. in Bristol, Tenn., for about $19.2 million in cash.

Citco is the parent of 66-year-old Citizens Bank Tri-Cities. and Twin City is the holding company for Twin City Federal Savings Bank, which was founded in 1958. The deal would continue Citco's expansion in northeast Tennessee and southwest Virginia, and would createing a company with nearly $530 million of assets and 12 branches.

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