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Four Oaks Fincorp acquires LongLeaf Community Bank

Four Oaks Fincorp, the holding company of Four Oaks Bank & Trust, has completed the acquisition of LongLeaf Community Bank.

Under the terms of the merger agreement, LongLeaf shareholders are permitted to request cash, Four Oaks Fincorp stock or a combination of both for their outstanding shares, subject to an overall limitation that not more than 50% of deal consideration would be paid in cash.

Ayden Lee, chairman, CEO and president of Four Oaks Fincorp, said: During the last few months we have experienced a tremendous level of support by the employees of both institutions in order to be able to achieve this accomplishment. It is clear that we have highly committed, dedicated associates who are now joining forces to continue to provide the highest quality banking in all of our communities.