CHARLESTON, S.C. -- SouthTrust Corp. of Birmingham, Ala., has signed a definitive agreement to acquire Carolina Financial Corp. for about $22 million, Carolina Financial said.

Shareholders of Carolina Financial are to receive about 95 South Trust common shares for each 100 of their shares. The acquisition requires approval by regulators and Carolina Financial shareholders.

The briefs were compiled from staff and wire reports.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.