RALEIGH, N.C. - Triangle Bank signed an agreement to acquire all of the deposits of four Raleigh Federal Savings Bank offices from First Union National Bank of North Carolina.
Triangle expects to purchase the deposits at the same time First Union completes its purchase of Raleigh Federal in January 1996, subject to the necessary approvals.
Triangle will assume about $55 million in core deposits. Officials said the deal will significantly increase its market share in Johnston, Craven and Wayne counties, where Triangle already operates branches.
Triangle currently has about $800 million in assets and 37 branch offices.