Capital Bank of Raleigh, N.C., announced last week that it would buy two vacated branches in Cary, N.C., from BB&T Corp., Winston-Salem, N.C. The branches were operated by United Carolina Bank, which BB&T bought this year.

Capital said it would pay $1.05 million for the pair. The deal, subject to regulatory approval, is expected to close by the end of the first quarter. "We are excited about getting these two facilities," said James A. Beck, Capital Bank's president and chief executive officer. "Not just because it is more cost-effective for us than building new branches, but because they are well located to give us a great presence in Cary."

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.