Carolina Premier Bank said Friday it is being acquired by Select Bancorp, becoming the latest Charlotte-based bank to be swallowed up this year.
[Read more: Charlotte could soon be headquarters to only 3 banks]
Dunn-based Select is expected to acquire the community bank in an approximately $40 million deal set to close in the fourth quarter. The boards of both companies have already approved the transaction, which still requires regulatory and shareholder approvals.
Carolina Premier has four locations: one in Charlotte and three in Rock Hill, Blacksburg and Six Mile, S.C.
Deon Roberts: 704-358-5248, @DeonERoberts
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