Newspapers / The Perquimans Weekly (Hertford, … / Aug. 14, 1986, edition 1 / Page 2
Part of The Perquimans Weekly (Hertford, N.C.) / About this page
This page has errors
The date, title, or page description is wrong
This page has harmful content
This page contains sensitive or offensive material
Local News Peoples Bank, Mid-South announce agreement on merger . from Mrfl r?poiu ROCKY MOUNT - The Boards of Directors of Peoples Bancorporation and Mid-South BancShares Inc. today announced that they had approved an agreement in principal providing for the merger of Mid-South into Peoples Bancorporation. Under the agreement, shareholders which is subject to the execution of a definitive agreement, shareholders of Mid-South BancShares will receive 4.22 shares of Peoples Bancorpora tion common stock for each share of Mid-South BancShares common stock. The merger will be condi tioned, among other things, upon ap proval by the shareholders of both corporations and the receipt of re quired regulatory approvals. Robert R. Mauidin, Chairman and Chief Ex ecutive Officer of Peoples Baneorpo ration, stated, "Peoples Bancorporation is pleased with the proposed transaction, and it rep resents an excellent investment op portunity for our organization in new and developing markets in North Car olina. This is the first expansion of our multi-bank holding company, whereby Mid-South Bank will operate as a bulking subsidiary, and we an ticipate others in the future." Mid-South BancShares is a bank holding company with its principal of fice located in Sanford, North Caro lina. Mid-South's wholly-owned subsidiary, Mid-South Bank and Trust Company, offers a wide range of financial services to customers through 9 branch offices in 7 commu nities located in the Sandhills section of North Carolina. Peoples Bancorpo ration's principals office is in Rocky Mount, Nortn Carolina. Its wholly owned subsidiary, Peoples Bank and Trust Company, also provides a wide range of financial services through 60 branch offices located in 35 North Carolina Carolina cities and towns. At June 30, 1986, Peoples Bank had total assets of approximately 1750,000,000 and total deposits of approximately 9648,000,000, and Mid-South Bank had total assets of approximately 907,000,000 and deposits of approxi mately 985,000,000. Joseph L. Wallace, Jr., President of Mid-South, stated, "Mid-South's Board of Directors is pleased to have readied an agreement with an orga nization with the excellent reputation of People* Ba incorporation, and we are confident that Mid-South's contri butions to the combined organization will make it a major factor in the North Carolina banking community." Mr. Mauldin indicated that the merger would result in Mid-South's having representation on the Board of Directors of Peoples Ba incorporation and both anticipated that, if ap proved* the transaction would be completed by December 31, 1986. Upon the successful completion of the merger, Mid-South Baafc and Trust Company will become a wholly owned subsidiary of Peoples Bancor poration and will continue to operate under the name of Mid-South. A.A.R.P. meeting to be held Sept. 8 An A.A.R.P. (American Associa tion of Retired Persons) Organizatio nal Meeting will be held at the Perquimans County Senior Citizens Center which is located at 300 Grubb Street in Hertford, on Monday, Sep tember 8, 1906, at 1 p.m. The prupose of this meeting is to establish a local A.A.R.P. Organization. A.A.E.P. is for anyone 50 years of age or older, retired or otherwise, and to improve every aspect of living for older people. The organization pro vides group health insurance pro gram, discounts on auto rental and hotel rates and a specially designed and priced motoring plan. A.A.R.P. sponsors community service pro grams such as crime prevention, de fensive driving, tax aid, etc. Provides pre-retirement planning program and provides special services to re tired teachers through the National Retired Teachers Association Divi sion. For more information contact the Center at 426-5404 or Mrs. Simonoff at 426-9184. Reld Is appointed dean at NCCU DURHAM - Dr. George Willis Reid, a native of Hertford and a grad uate of Perquimans County Union School, has been promoted from as sistant dean of the undergraduate school of arts and sciences to Dean of the University College at North Cen tral Uiversity. The appointment was made by North Carolina Central University's new chancellor, Dr. Tyronza R. Rich mond, and approved July 31 by the Board of Governors of the University of North Carolina. Dr. Reid will oversee a unit which includes NCCU's summer sessions. fciuinfieU Monument (Emnpano Monuments Markers Mausoleums Avoilable in granite (of various colors) or marble We Are Direct Factory Representatives Call Larry Swindell 509 Dobbs St. 426-7311 College now accepting applications From staff reports MURFREESBORO - Chowan Col lege is accepting applications for fall enrollment in 10 professional fields. The private, church-related, two-year college will register students August 26. Chowan's liberal arts program pre pares students for transfer to a senior college and professional careers. The liberal arts program includes busi ness, English, fine arts (music, art, drama, dance), printing technology and photography, health and physical education, languages, mathematics, religion and philosophy, science, 'and social science. Chowan also offers career educa Council Continued from page one state and federal sources must be completed by Sept. l and the bond ref erendum will be held later this year. The Bonds will be purchased by Farmer's Home Administration at 6% percent interest. The proposed average users charge will increase slightly under the new plan. The new rate will be $7.30 per month when the upgrading of the fa cility begins versus $5.50 per month paid by people currently. These fig ures represent an increase of 25 cents per 1000 gallons of treated water. The town council stated their sup port of the plan to upgrade the facili ties, and said they were glad that the town was eligible for state and fed eral funding for the project at this time. If all goes well construction on the project will begin in the early spring of next year. House Continued from page one The cemetery contains at least IS burial plots with graves from two burial periods according to Hartley. The team determined the graves were from 2 burial periods because some of the graves are orientated north-south while other graves are orientated east-west. Hartley stated that most of our graves done today are orientated east-west. Both children and adults are buried in the cemetary, but Hartley stated that specific identities of the people buried here is not known. The team believes that the people are members of the Laker family. Hartley and the other archeologists will now begin drawing maps of the site, marking off the burial plots, and backfilling the area for protection. At the completion of their work a report will be done for the state. monuments, Inc. Expression of Affection Let u* help you chooM o beauti ful memorial to appropriately perpetuate the, memory of a loved one Coll or ceme by toonl Our 0>ty letWe* Hwy 17 Iw* mill Inn ?WiiMtag Hum Mow. ?cn4m, frxfc. ? A M -i PM. tatMeaylA M 12 Moon 39S-1S70 MM t Hwila CUfean cmnm% . ? i .1 I tion in photography, printing, com mercial art, secretarial science, merchandise management, and busi ness fields. Associate degrees are awarded in over 40 programs of study. Approxi mately 85 percent of Chowan's grad uates transfer to senior colleges and universities. Chowan is sponsored by the Baptist State Convention of North Carolina. For more information contact Ad missions, Chowan College, Murfrees boro, N.C. 27855, 919-398-4101 Sanford Continued from page one "For older voters, the Sanford re cord in agriculture, especially his committee of working farmers ex ploring new approaches to aid our farm economy, is important," Wil iiams said. "So are his strong stands on national defense, dating back to his US Army service as a paratrop per, and the fact that the state's com munity college system was created during his term." Williams urged anyone who would like to hear Sanford to come to the meeting in Hertford on Thursday, Aug. 21. ATTENTION Beginning in September THE PERQUIMANS WEEKLY will have a business page on the second Thursday of each month. Businesses may submit articles and information about their business to our office be tween 9:00 A.M.-5:00 P.M. Monday Friday. For More Information Call 426-5728 White's Barbeque "New" Friday Night Special Shrimp Plate Saturday Night Special Pork BBQ & Fried Chicken Combination Fresh Fish Served Daily Brunswick Stew We welcome large & small groups Sit down and let us serve you or take out. Monday-Thursday 6:00 A.M. -8:00 P.M. Friday & Saturday 6:00 A.M. -9:00 P.M. 426-5064 Call us for all of your catering needs. WiTH Interest Rates ?)u Can Afford A Few Uiese, 10.5 % for 48 months (20% down payment) Don't settle for less car Get a loan with less interest Introducing special, tow interest rate auto loans from Peoples Bank It s easy to apply ; just come by any Peoples Bank office and talk it over. But inese rates are avauawe any uaoDer m Bank "Thinking Ahead"
The Perquimans Weekly (Hertford, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Aug. 14, 1986, edition 1
2
Click "Submit" to request a review of this page. NCDHC staff will check .
0 / 75