Carter Bank completes $55.9M deposit purchase of two First Reliance Bank branches in NC

Carter Bankshares, Inc.

Acquired $55.9M in deposits from branches in Mooresville and Winston-Salem, NC; no loans acquired.
Entered Winston-Salem market for the first time; second Mooresville location expands Charlotte-area presence.
10 new associates joined Carter Bank; branches opened May 27 after weekend conversion.
Paid 4.6% deposit premium on average closing balance of transaction and savings accounts.
CEO Litz Van Dyke cited expansion opportunity and smooth transition for customers and team.

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