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NewBridge Bancorp gets regulatory approvals for acquisition of Security Savings

NewBridge Bancorp announced that it has received the necessary regulatory approvals to enable NewBridge Bank to complete its supervisory acquisition of Security Savings Bank, SSB, of Southport, North Carolina, a mutual savings bank with six branches serving Brunswick County in North Carolina. At June 30, Security Savings had total assets of $220M and total deposits of $173M. The merger will be effected on October 1, pursuant to an order of the North Carolina Commissioner of Banks. NewBridge will continue to operate the acquired offices under the Security Savings name until a systems conversion occurs in November.