Attached files
| file | filename |
|---|---|
| EX-99.1 - EXHIBIT 99.1 - SELECT BANCORP, INC. | tm2016121d1_ex99-1.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 17, 2020
|
SELECT BANCORP, INC. |
||
| (Exact Name of Registrant as Specified in Charter) |
| North Carolina | 000-50400 | 20-0218264 |
|
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
| 700 W. Cumberland Street, Dunn, North Carolina | 28334 |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s Telephone Number, Including Area Code: (910) 892-7080
| Not Applicable |
| (Former name or former address, if changed since last report) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of class | Trading Symbol | Name of exchange on which registered |
| Common Stock, par value $1.00 per share | SLCT | The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
| Item 8.01 | Other Events. |
On April 17, 2020, Select Bank & Trust Company, a North Carolina-chartered bank and wholly owned subsidiary of Select Bancorp, Inc. (the “Company”), completed its previously announced transaction, pursuant to the Branch Purchase and Assumption Agreement with Entegra Bank (“Entegra”), to assume the deposits and acquire the majority of the loans, property, equipment and other selected assets associated with three existing Entegra branch offices in western North Carolina. Entegra merged with First-Citizens Bank & Trust Company (“First Citizens Bank”) on January 1, 2020 and is currently operating as a division of First Citizens Bank.
On April 17, 2020, the Company issued a press release announcing the completion of the transaction described above. A copy of the press release is included herewith as Exhibit 99.1.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits |
| Exhibit No. | Description | |
| 99.1 | Press release dated April 17, 2020, issued by Select Bancorp, Inc. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SELECT BANCORP, INC. | ||
| Date: April 17, 2020 | By: | /s/ Mark A. Jeffries |
| Mark A. Jeffries | ||
| Executive Vice President and Chief Financial Officer | ||