Lumbee Guaranty Bank reached an agreement to acquire Red Springs branch from Southern Bank and Trust Company on February 21, 2014. Under the agreement, Lumbee Guaranty Bank will purchase all loans and assume all deposits of Red Springs branch. Employees of the Red Springs office will be retained by Lumbee Guaranty Bank. The transaction is subject to regulatory approval. The deal is expected to close in second quarter of 2014.

Lumbee Guaranty Bank completed the acquisition of Red Springs branch from Southern Bank and Trust Company on February 21, 2015.