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Select Bancorp to sell SC branch to Pickens Savings and Loan Association

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Select Bancorp to sell SC branch to Pickens Savings and Loan Association

Dunn, N.C.-based Select Bank & Trust Co. agreed to sell its branch at 115 North Main St. in Six Mile, S.C., to Pickens, S.C.-based Pickens Savings and Loan Association FA.

Pickens Savings and Loan will assume the majority of the deposits and acquire certain assets of the branch, while Select Bancorp Inc., the parent of Select Bank & Trust, will retain the loans.

The deal is expected to close in the fourth quarter.