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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 5, 1998
CAROLINA FIRST BANCSHARES, INC.
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(Exact Name of Registrant as Specified in Charter)
North Carolina 0-17939 56-1655882
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(State or Other (Commission (IRS Employer
Jurisdiction of File Number) Identification No.)
Incorporation)
402 East Main Street, Lincolnton, N.C. 28093
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(Addresses of Principal Executive Offices, including Zip Code)
(704) 732-2222
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(Registrant's Telephone Number, including Area Code)
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Item 5. Other Events.
On June 5, 1998 Carolina First BancShares, Inc. ("Carolina
First") and Community Bank & Trust Co. Marion, North Carolina
("Community Bank") announced the signing of a definitive merger
agreement (the "Merger Agreement"). Under the Merger Agreement,
Community Bank will merge with a North Carolina interim banking
wholly-owned by Carolina First. The Merger Agreement provides that
Community Bank shareholders will be entitled to receive at closing
approximately 0.74 shares of Carolina First common stock for each share
of Community Bank common stock, subject to adjustment as provided in
the Merger Agreement.
Item 7. Financial Statements, Pro Forma Financial Information, and
Exhibits.
(c) Exhibits.
The following exhibits are filed herewith:
Exhibit No. Description
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2.1 Merger Agreement
99.1 Press Release
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Carolina First BancShares, Inc.
(Registrant)
/s/ D. Mark Boyd, III
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D. Mark Boyd, III
Chief Executive Officer
Date: June 17, 1998
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INDEX TO EXHIBITS
Exhibit
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2.1 Merger Agreement dated as of June 4, 1998 between Carolina First
BancShares, Inc. and Community Bank & Trust, Co.
99.1 Press Release