PURCHASE AND ASSUMPTION AGREEMENT WHOLE BANK ALL DEPOSITS AMONG FEDERAL DEPOSIT INSURANCE CORPORATION, RECEIVER OF THE BANK OF ASHEVILLE, ASHEVILLE, NORTH CAROLINA FEDERAL DEPOSIT INSURANCE CORPORATION and FIRST BANK TROY, NORTH CAROLINA DATED AS OF...Purchase and Assumption Agreement • January 26th, 2011 • First Bancorp /Nc/ • State commercial banks
THIS AGREEMENT, made and entered into as of the 21st day of JANUARY, 2011, by and among the FEDERAL DEPOSIT INSURANCE CORPORATION, RECEIVER OF THE BANK OF ASHEVILLE, ASHEVILLE, NORTH CAROLINA (the “Receiver”), FIRST BANK, organized under the laws of the STATE OF NORTH CAROLINA, and having its principal place of business in TROY, NORTH CAROLINA (the “Assuming Institution”), and the FEDERAL DEPOSIT INSURANCE CORPORATION, organized under the laws of the United States of America and having its principal office in Washington, D.C., acting in its corporate capacity (the “Corporation”).
