Tuesday, October 1, 2013

BNC closes Randolph Bank acquisition

The parent company of Bank of North Carolina announced Tuesday that it has closed its acquisition of Randolph Bank and Trust. The deal expands BNC's presence in the Triad and pushes it into Asheboro, Burlington and Randleman.

BNC announced the acquisition in May. The cash and stock deal ended up being worth $11.8 million.

Randolph Bank will continue to operate its branches under its name until early December.