Select Bancorp Announces Plans for Sale of Six Mile, South Carolina Location
Select Bancorp, Inc. (SLCT)
Last select bancorp, inc. earnings: 1/24 04:35 pm
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selectbank.com/about-us/news-and-annual-reports
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Source: GlobeNewswire
DUNN, N.C., June 05, 2019 (GLOBE NEWSWIRE) -- Select Bancorp, Inc. (the “Company” NASDAQ: SLCT), the holding company for Select Bank & Trust Company (the “Bank”), announced today that the Bank has entered into a definitive agreement to sell its Six Mile, South Carolina branch located at 115 North Main Street, to Pickens Savings & Loan Association, FA. Terms of the agreement provide for Pickens to assume the majority of deposits and to acquire selected assets associated with the branch, while Select retains the loans. “Making a decision like this is never an easy one, but we believe it is the best decision for our customers, the community, our team members and our shareholders,” said William L. Hedgepeth II, president and Chief Executive Officer of the Company and the Bank. “It is our belief that the community of Six Mile can be better served by a local community bank. Pickens Savings & Loan will be in a much better position to provide local decision making and community outreach
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