North Carolina's fast-growing Triangle Bancorp plans to swallow its eighth community bank in six years, in a deal that would push it well past the $1 billion-asset mark.

The Raleigh banking company's latest acquisition target is $270 million- asset Bank of Mecklenburg, one of Charlotte's few remaining community banks. The all-stock deal, valued at $40.2 million, would give bring Triangle's assets to $1.27 billion.

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