THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Tuesday, February 21, 1995 TAG: 9502210264
SECTION: LOCAL PAGE: B3 EDITION: NORTH CAROLINA
TYPE: Local Briefs
SOURCE: From staff reports
DATELINE: KILL DEVIL HILLS LENGTH: Short : 29 lines
First Citizens Bank has sold its branch office here to Southern Bank, officials said this week.
Located at Seagate North Shopping Center on the U.S. Route 158 bypass, First Citizens has operated a Kill Devil Hills branch since September 1993, when it acquired the former Pioneer Savings Bank.
Southern Bank, which is based in Mount Olive, is expected to take over the Seagate branch by summer. With the transaction, Southern Bank will assume about $3.7 million in deposits and about $3.5 million in loans. No layoffs are expected from the bank sale, officials said.
Southern Bank also recently announced plans to buy a First Union Bank office at 1906 S. Croatan Highway in Kill Devil Hills. Southern Bank officials plan to continue operating both beach offices.
Southern Bank has $410 million in assets and operates 35 offices in 33 cities and towns in Eastern North Carolina. by CNB