East Carolina Bank Merging With Raleigh Bank

A bank based in Eastern Carolina is being bought by another bank that's based in Raleigh.

ECB Bancorp and Crescent Financial Bancshares announced the merger this morning.

East Carolina Bank, which has 25 locations throughout Eastern Carolina, is based in Engelhard.

In August, Crescent State Bank announced it was merging with VantageSouth as well. When that merger is completed later this year, Crescent will then take the name VantageSouth.

East Carolina branches will become VantageSouth Bank when its merger is complete early next year.

When the two mergers are finalized, the new bank will have 45 branches in the state and $2 billion in assets.