First Community Bancshares Announces Signing of Definitive Merger Agreement With Coddle Creek...

First Community Bancshares, Inc. (NASDAQ:FCBC) (www.fcbinc.com) and Coddle Creek Financial Corp. jointly announce the signing of a definitive merger agreement pursuant to which First Community will acquire Coddle Creek, the Mooresville, North Carolina-based holding company and parent of Mooresville Savings Bank, SSB, in a transaction valued at approximately $33.1 million. Mooresville Savings Bank is a North Carolina-chartered savings bank established in 1937 and operates three branches in Mooresville, Huntersville, and Cornelius, North Carolina. At June 30, 2008, Coddle Creek had $158.6 million in total assets, $136.6 million in total deposits and $19.1 million in shareholders' equity. The common stock of Coddle Creek Financial Corp. is traded on the Pink Sheets under the symbol, ”CDLX“_. Under the terms of the merger... [read full story]