FNB to Buy Dover Mortgage

FNB Corp., Asheboro, N.C., has agreed to acquire Dover Mortgage Co., Charlotte, N.C., for an undisclosed amount.FNB, the holding company for First National Bank and Trust Co., said Dover ranks among the top mortgage originators in North Carolina, with over $300 million in loan volume in the past two years. It also has a correspondent program under which it buys mortgage loans from community banks, thrifts, and mortgage brokers. "Dover's extensive product line will expand the offerings for First National Bank and Trust, particularly in FHA and VA loans, and Dover's presence in dynamic markets gives our banking subsidiaries opportunities for geographic expansion as well," said Michael C. Miller, FNB's chairman and president. The companies can be found on the Web at http://www.fnbnc.com and http://www.dovermortgage.com.