Carter Bankshares to acquire two NC branches from First Reliance, assuming $56M deposits

Carter Bankshares, Inc.

Carter Bank will assume ~$56M in deposits from branches in Mooresville and Winston-Salem.
Pays 4.6% deposit premium; acquires no loans.
Acquires Winston-Salem branch facility; Mooresville deposits will be merged into existing Carter branch.
Transaction expected to close in first half of 2025, subject to regulatory approval.
Carter will operate 66 branches in VA and NC post-closing.

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