First National Corp. of Orangeburg, S.C., said last week that it would buy FirstBancorporation of Beaufort, S.C., for $34.7 million in stock.

FirstBancorporation has $105 million of assets and two bank subsidiaries. One does business in Beaufort County, a resort area just north of Savannah, Ga., and the second 130 miles north in Columbia, S.C., the state capital.

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