NCNB Unit Buying Old Colony Trust Co.

HILTON HEAD, S.C. - NCNB National Bank of South Carolina said Friday it has reached a definitive agreement to buy Old Colony Trust Co. of South Carolina from Bank of Boston Corp.

Old Colony, a nine-year-old nondeposit trust company based here, has more than $100 million in trust assets. Terms of the transaction were not disclosed.

The acquirer's parent, NCNB Corp., oversees a total of $72 billion in trust assets in 50 offices across the Southeast and Texas.

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