Sound Banking Company (OTCQB: SNBN) reached an agreement to acquire the North Carolina branch of VantageSouth Bank on April 3, 2014. Under the agreement, Sound Bank will purchase most of the loans and assume most of the deposits of VantageSouth's branch in New Bern, NC, which is located at 1801 South Glenburnie Road. Sound Bank will also acquire the real property, branch building and other fixed assets associated with the New Bern branch.

Vantage South Bank Branch Manager Liz Garner will remain as branch manager. New Bern native Mark Gatlin, will oversee all of Sound Bank's Craven County operations. The transaction is subject to regulatory approval and other customary closing conditions for transactions of this type.

As of August 6, 2014, the regulatory approval was received.