LUMBERTON, N.C. -- Southern National Corp. said it has acquired the loans and deposits of First Security Federal Savings Bank, the successor to the failed First Security Savings and Loan Association of Pinehurst, N.C.

First Security Federal, which had about $60 million in assets, will increase Southern National's presence in Southern Pines, Pinehurst, and Aberdeen, said Glenn Orr, chairman of the banking company.

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