LSB Bancshares Inc. and FNB Financial Services Corp. said they have selected the name NewBridge Bank for the bank that would result from their recently announced deal.
The $987 million-asset LSB of Lexington, N.C., announced plans in late February to join forces with the $1 billion-asset FNB of Greensboro. Though the companies are calling the deal a merger of equals, LSB is purchasing FNB for $125 million in stock.
"The merger itself will represent a strong link between two great banks with histories of long relationships with their respective customers," Robert F. Lowe, LSB's chairman, president, and chief executive officer, said in a press release Thursday. "This new name reflects the continued and growing connection that we will have with our current and new customers."