Southern BancShares (N.C.), Inc., Mount Olive, North Carolina, and Heritage Bankshares, Inc. announced that they have reached a definitive agreement under which Heritage and its bank subsidiary, Heritage Bank, will be merged into Southern and its bank subsidiary, Southern Bank and Trust Company. Following the merger, Mr. Ives will serve as a director of Southern BancShares and Southern Bank. He will also serve as a consultant to Southern Bank regarding Heritage Bank's business, operations, customers and loan portfolio and Southern Bank's continued growth and expansion in Hampton Roads.