Georgia bank to acquire Four Oaks Fincorp for $124M

Georgia bank to acquire Four Oaks Fincorp for $124M

Four Oaks Fincorp Inc., a 14-branch bank based in Johnston County, is being acquired by United Community Banks Inc. of Georgia in a $124 million cash and stock deal. United operates 134 offices in the Carolinas, Georgia and Tennessee. Four Oaks is the second Triangle-based bank to be acquired this year. In April, Raleigh-based Paragon Bank said it would be bought by Virginia-based TowneBank in a $324 million all-stock deal that is slated to close this fall.

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