AGREEMENT AND PLAN OF MERGER AND REORGANIZATION BY AND AMONG NEW CENTURY BANCORP, INC., NEW CENTURY BANK, SELECT BANCORP, INC, AND SELECT BANK & TRUST COMPANY DATED AS OF SEPTEMBER 30, 2013Agreement and Plan of Merger • September 30th, 2013 • New Century Bancorp Inc • State commercial banks • North Carolina
THIS AGREEMENT AND PLAN OF MERGER AND REORGANIZATION (this “Agreement”) is entered into as of the 30th day of September, 2013, by and between NEW CENTURY BANCORP, INC., a North Carolina corporation (“NCBC”), and its wholly-owned subsidiary, NEW CENTURY BANK, a North Carolina banking corporation (“NCBC Bank”), on the one hand, and SELECT BANCORP, INC., a North Carolina corporation (“Select”), and its wholly-owned subsidiary SELECT BANK & TRUST COMPANY, a North Carolina banking corporation (“Select Bank”) on the other hand (collectively, NCBC, NCBC Bank, Select and Select Bank may be referred to herein as the “Parties” and, each individually, as a “Party”).
