Select Bancorp Reports First Quarter 2021 Earnings

$SLCT
Major Banks
Finance
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  • First Bancorp Completes Acquisition of Select Bancorp, Inc.

    SOUTHERN PINES, N.C., Oct. 18, 2021 /PRNewswire/ -- First Bancorp (NASDAQ:FBNC) announces today the completion of its acquisition of Select Bancorp, Inc. (NASDAQ:SLCT) ("Select Bancorp"), the parent company of Select Bank & Trust Company ("Select Bank"), on October 15, 2021.  The merger solidifies First Bank's position as the leading community bank headquartered in North Carolina, with total assets of over $10 billion and over 120 branches.  Richard Moore, CEO of First Bancorp, stated, "We are very pleased with today's announcement that our merger with Select Bancorp is now official.  We welcome our new customers, associates, and shareholders to First Bank.  Select Bank customers can expect

    $FBNC
    $SLCT
    Major Banks
    Finance
  • Select Bancorp Reports Second Quarter 2021 Earnings

    DUNN, N.C., Aug. 02, 2021 (GLOBE NEWSWIRE) -- Select Bancorp, Inc. (NASDAQ:SLCT) (the "Company"), the holding company for Select Bank & Trust Company, today reported net income for the quarter ended June 30, 2021 of $5.6 million with basic and diluted earnings per share of $0.33 and $0.32, respectively, compared to net income of $681,000 with basic and diluted earnings per share of $0.04 for the comparative quarter ended June 30, 2020. The increase in net income in the second quarter of 2021 compared to 2020 was primarily attributable to loan growth and an increase in earnings from the three additional western North Carolina branches that were acquired in April of 2020, plus an increase in

    $SLCT
    Major Banks
    Finance
  • First Bancorp to Acquire Select Bancorp, Inc.

    SOUTHERN PINES, N.C. and DUNN, N.C., June 1, 2021 /PRNewswire/ -- First Bancorp (NASDAQ:FBNC), the parent company of First Bank, and Select Bancorp, Inc. ("Select") (NASDAQ:SLCT), the parent company of Select Bank and Trust Company ("Select Bank"), announced today the signing of a definitive merger agreement under which First Bancorp will acquire Select in an all-stock transaction with a total current value of approximately $314.3 million, or $18.10 per share, based on First Bancorp's stock price as of May 28, 2021. The merger agreement has been unanimously approved by the boards of directors of each company. The transaction is expected to close in the fourth quarter of 2021 and is subject

    $SLCT
    $FBNC
    Major Banks
    Finance

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