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First Citizens, Mountain 1st to merge

By , Published: August 28, 2013

First Citizens Bank and Hendersonville-based Mountain 1st Bank announced a merger on Wednesday under which Mountain 1st will receive $10 million. Of the total, $8 million will be used to repay a TARP loan and exit the 2008 bank rescue program and $2 million will go to Mountain 1st shareholders, or 38 cents a share.

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