Raleigh-based First Citizens Bank and Trust Co.’s presence on the East Coast expanded Thursday as its purchase of Palmetto Heritage Bancshares went into effect, according to a filing with the Securities and Exchange Commission.

The acquisition agreement gained approval from Palmetto shareholders Monday. The three branches operated by its banking subsidiary, Palmetto Bank and Trust Co., in the South Carolina cities of Pawleys Island, Murrells Inlet and Mount Pleasant will begin a transition into branches of First Citizens.

The three branches will initially operate under the Palmetto name as a division of First Citizens Bank. At a later date, all Palmetto customer accounts will be converted First Citizen’s system, along with the First Citizens name taking over the branches.

Palmetto reported $164.9 million in consolidated assets, $123.1 million in deposits and $136.4 million in loans as of Sept. 30. No financial terms specific to the deal have been specified.

“We look forward to serving Palmetto Heritage customers and leveraging our stability and robust product base so that, together, we can build on an already solid foundation,” said First Citizens CEO Frank B. Holding Jr. in a statement.

For the third quarter ending Sept. 30, First Citizens reported $34.9 billion in total assets, a decrease of nearly 0.4 percent over the previous quarter. The amount of loans left to be paid back to First Citizens grew 7.3 percent over the year, while deposits declined 1 percent over the quarter but grew over the year.

It reported cash and due from banks of $262.5 million, an 11.4 percent decrease over the year.

Last week, First Citizens announced the upcoming retirement at the year’s end of James M. Parker, director, member of the joint risk committee and designated risk expert of the board. His retirement results from a policy requiring retirement at age 75.

First Citizens completed a merger with Milwaukee-based Capital Commerce Bancorp on Oct. 2, giving it four new branches. In May, it purchased HomeBancorp Inc., gaining 13 new branches.

In total, First Citizens operates over 500 branches in 19 states. Its loan products portfolio is comprised of many commercial and noncommercial real estate loans, including construction and land development loans and residential mortgages.

Near the open of trading Thursday, First Citizens Bancshares Inc. was trading at $430 per share, up $3.37, or 0.79 percent, from the previous day’s close.