NewSouth Bancorp in Washington, N.C., said it has a deal to buy Green Street Financial Corp. for $59 million in cash.

Green Street, in Fayetteville, N.C., is parent of Home Federal Savings and Loan Association, a $165 million-asset thrift with three branches. NewSouth, which has $458 million of assets, has seven branches.

The agreement calls for NewSouth to exchange $15.25 cash for each share of Green Street. The deal is expected to close before yearend. -- Louis Whiteman

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