ABNB Federal Credit Union has received all required regulatory approvals to complete its acquisition of First Bank branch locations in Roanoke Rapids and Louisburg.

Approvals were granted by the National Credit Union Administration and the Federal Deposit Insurance Corporation. The transaction is scheduled to close October 9.

“Regulatory approval is an important milestone and reflects our disciplined approach to growth through thoughtful partnerships,” said Charles A. Mallon Jr., president and CEO of ABNB. “Our focus now is ensuring a seamless transition for customers and employees.”

ABNB announced the agreement with First Bank in February. No job losses are expected, with local branch teams and leadership remaining in place to maintain operational continuity.

“We are pleased to welcome the communities of Roanoke Rapids and Louisburg to ABNB,” Mallon said. “As a member-owned credit union, we’re dedicated to providing financial opportunities which improve our members’ lives and strengthen the communities we serve.”

Headquartered in Chesapeake, Virginia, ABNB operates 14 branches across northeastern North Carolina and the Hampton Roads region, serving more than 81,000 members. The credit union has increased its total assets from under $700 million to nearly $1 billion in recent years.