PURCHASE AND ASSUMPTION AGREEMENT WHOLE BANK ALL DEPOSITS AMONG FEDERAL DEPOSIT INSURANCE CORPORATION, RECEIVER OF BEACH FIRST NATIONAL BANK, MYRTLE BEACH, SC FEDERAL DEPOSIT INSURANCE CORPORATION and BANK OF NORTH CAROLINA DATED AS OF 9 APRIL 2010Purchase and Assumption Agreement • April 15th, 2010 • BNC Bancorp • National commercial banks
THIS AGREEMENT, made and entered into as of the 9th day of April, 2010, by and among the FEDERAL DEPOSIT INSURANCE CORPORATION, RECEIVER of BEACH FIRST NATIONAL BANK, MYRTLE BEACH, SC (the “Receiver”), BANK OF NORTH CAROLINA, organized under the laws of North Carolina, and having its principal place of business in THOMASVILLE, NC (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”).
