First Bancorp (FBNC) Receives Regulatory Approval for Acquisition of Select Bancorp, Inc.

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First Bancorp Receives Regulatory Approval for Acquisition of Select Bancorp, Inc.

October 11, 2021 11:00 AM EDT

SOUTHERN PINES, N.C., Oct. 11, 2021 /PRNewswire/ -- First Bancorp (NASDAQ: FBNC), the parent company of First Bank, reports that it has received all required regulatory approvals to acquire Select Bancorp, Inc. ("Select"), the parent company of Select Bank & Trust Company ("Select Bank").

Shareholders for each company have previously approved the transaction and the merger of Select into First Bancorp is expected to be completed following the close of business Friday, October 15, 2021.  Select Bank branches are expected to open as branches of First Bank, doing business as Select Bank, on Monday, October 18,... More