Select Bancorp to acquire Carolina Premier Bank

Select Bancorp to acquire Carolina Premier Bank

Dunn-based Select Bancorp Inc. will acquire Carolina Premier Bank of Charlotte in a $40 million transaction that is slated to close in the fourth quarter. The banks’ combined assets are estimated at more than $1 billion. The deal is the latest in a string of Charlotte-area acquisitions, which if completed, will leave the city with just two locally headquartered banks – Bank of America Corp. and NewDominion Bank.

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