Summary of Assets Received and Liabilities Assumed [Table Text Block]

A summary of assets received and liabilities assumed for KeySource and the estimated fair value adjustments are as follows (dollars in thousands):

			As Recorded by		Fair Value			As Recorded
			KeySource		Adjustments			by BNC
Assets
	Cash and due from banks		$	19,847	$	-		$	19,847
	Investment securities available-for-sale			3,445		-			3,445
	Federal Home Loan Bank stock, at cost			430		-			430
	Loans			148,295		(8,690)	(1)		139,605
	Premises and equipment			650		-			650
	Accrued interest receivable			547		-			547
	Other real estate owned			1,289		(150)	(2)		1,139
	Core deposit intangible			-		621	(3)		621
	Other assets			4,445		3,516	(4)		7,961
	Total assets acquired		$	178,948	$	(4,703)			174,245
Liabilities
	Deposits		$	(151,553)	$	(854)	(5)		(152,407)
	Short-term borrowings			(780)		-			(780)
	Long-term debt			(5,999)		(48)	(6)		(6,047)
	Other liabilities			(1,754)		102			(1,652)
	Total liabilities assumed		$	(160,086)	$	(800)			(160,886)

	Net assets acquired								13,359
	Total consideration paid								13,942
	Goodwill							$	583

Explanation of fair value adjustments:
(1)	-	Adjustment for the fair value of the acquired loan portfolio.
(2)	-	Adjustment for the fair value of the acquired other real estate owned.
(3)	-	Adjustment for the estimated value of the core deposit intangible.
(4)	-	Adjustment for deferred tax asset recognized from acquisition.
(5)	-	Adjustment for the estimated fair value of time deposits.
(6)	-	Adjustment for the fair value of the subordinated debt assumed.

A summary of the consideration paid for KeySource is as follows (dollars in thousands):

	Common stock issued (1,810,267 shares)							$	13,686
	Fair value of KeySource stock options assumed								256
	Total consideration paid							$	13,942

None of the goodwill is deductible for tax purposes.

Summary of Assets Received and Liabilities Assumed [Table Text Block]

A summary of the assets received and liabilities assumed from the FDIC for Carolina Federal and the estimated fair value adjustments are as follows (dollars in thousands):

			As Recorded by		Fair Value			As Recorded
			Carolina Federal		Adjustments			by BNC
Assets
	Cash and due from banks		$	8,394	$	-		$	8,394
	Federal Home Loan Bank stock, at cost			112		-			112
	Loans			32,328		(2,862)	(1)		29,466
	Accrued interest receivable			124		-			124
	Core deposit intangible			-		93	(2)		93
	Other assets			35		1,291	(3)		1,326
	Total assets acquired		$	40,993	$	(1,478)		$	39,515
Liabilities
	Deposits		$	(52,992)	$	(148)	(4)	$	(53,140)
	Deferred tax liability			-		(2,981)	(5)		(2,981)
	Other liabilities			(42)		-			(42)
	Total liabilities assumed			(53,034)		(3,129)			(56,163)
Excess of liabilities assumed over assets acquired			$	(12,041)

Aggregate fair value adjustments					$	(4,607)

Cash received from the FDIC									21,400
Net assets acquired (net after-tax gain)									4,752
Income tax effect									2,982
Net assets acquired (bargain purchase gain)								$	7,734

Explanation of fair value adjustments:
(1)	-	Adjustment for the fair value of the acquired loan portfolio.
(2)	-	Adjustment for the estimated value of the core deposit intangible.
(3)	-	Adjustment for amount due to BNC from the FDIC.
(4)	-	Adjustment for the estimated fair value of time deposits.
(5)	-	Adjustment for the deferred tax liability from the acquisition gain.

Summary of Assets Received and Liabilities Assumed [Table Text Block]

			As Recorded by First Trust		Fair Value Adjustments			As Initially Recorded by BNC		Measurement Period Adjustments			As Recorded by BNC
Assets
	Cash and due from banks		$	46,079	$	-		$	46,079	$	-		$	46,079
	Investment securities available-for-sale			124,616		-			124,616		-			124,616
	Federal Home Loan Bank stock, at cost			753		-			753		-			753
	Loans			179,702		(9,820)	(1)		169,882		-			169,882
	Premises and equipment			6,938		866	(2)		7,804		-			7,804
	Accrued interest receivable			1,565		-			1,565		-			1,565
	Other real estate owned			8,686		(535)	(3)		8,151		-			8,151
	Core deposit intangible			-		1,826	(4)		1,826		-			1,826
	Other assets			12,337		3,295	(5)		15,632		-			15,632
	Total assets acquired		$	380,676	$	(4,368)		$	376,308	$	-			376,308
Liabilities
	Deposits		$	(323,139)	$	(884)	(6)		(324,023)	$	-		$	(324,023)
	Short-term borrowings			(7,899)		-			(7,899)		-			(7,899)
	Other liabilities			(2,849)		-			(2,849)		719	(7)		(2,130)
	Total liabilities assumed		$	(333,887)	$	(884)		$	(334,771)	$	719			(334,052)

	Net assets acquired													42,256
	Total consideration paid													36,565
	Bargain purchase gain												$	5,691

Explanation of fair value adjustments:
(1)	-	Adjustment for the fair value of the acquired loan portfolio.
(2)	-	Adjustment for fair value of acquired premises and equipment.
(3)	-	Adjustment for the fair value of the acquired other real estate owned.
(4)	-	Adjustment for the estimated value of the core deposit intangible.
(5)	-	Adjustment for deferred tax asset recognized from acquisition.
(6)	-	Adjustment for the estimated fair value of time deposits.
(7)	-	Adjustment for cancellation of split dollar life insurance plan.

A summary of the consideration paid for First Trust is as follows (dollars in thousands):

	Common stock issued (3,276,101 shares)												$	26,177
	Cash payments to First Trust stockholders													10,388
	Total consideration paid												$	36,565