Hampton Roads Bankshares, Inc. (HMPR: Quote), said Friday that it has completed the sale of deposits associated with the Gateway Bank & Trust Company branches, pursuant to an agreement announced on April 30.
As per the agreement, Bank of North Carolina also acquired the land, building and personal property associated with the Preston Corners branch, assumed BHR's lease for the Chapel Hill branch and acquired its associated personal property, and acquired certain unimproved land in Chapel Hill, NC. Bank of North Carolina is continuing to operate the Preston Corners and Chapel Hill branches.
The company noted that further terms of the transaction were not disclosed.
Hampton Roads Bankshares is the holding company for The Bank of Hampton Roads and Shore Bank.
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by RTT Staff Writer
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