AGREEMENT AND PLAN OF MERGER AND REORGANIZATION BY AND AMONG SELECT BANCORP, INC., SELECT BANK & TRUST COMPANY, PREMARA FINANCIAL, INC. AND CAROLINA PREMIER BANK DATED AS OF JULY 20, 2017Option Cancellation Agreement • July 26th, 2017 • Select Bancorp, Inc. • State commercial banks • North Carolina
THIS AGREEMENT AND PLAN OF MERGER AND REORGANIZATION (this “Agreement”) is entered into as of the 20th day of July 2017 by and between SELECT BANCORP, INC., a North Carolina corporation (“SLCT”), and its wholly owned subsidiary, SELECT BANK & TRUST COMPANY, a North Carolina banking corporation (“Select Bank”), on the one hand, and PREMARA FINANCIAL, INC., a North Carolina corporation (“PARA”), and its wholly owned subsidiary CAROLINA PREMIER BANK, a North Carolina banking corporation (“Target Bank”), on the other hand (collectively, SLCT, Select Bank, PARA and Target Bank may be referred to herein as the “Parties” and, each individually, as a “Party”).
