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                                                                   Exhibit 10(f)

STATE OF NORTH CAROLINA

COUNTY OF IREDELL                                 CAPITAL MAINTENANCE AGREEMENT




               This Capital Maintenance Agreement (the "Agreement"), dated as of
December 30, 1997, by and between Coddle Creek Financial Corp., Mooresville,
North Carolina, a North Carolina-chartered bank holding company (the "Holding
Company") and Mooresville Savings Bank, Inc., SSB, a North Carolina-chartered
stock savings bank (the "Savings Bank").

               WHEREAS, the Savings Bank has applied to the Administrator,
Savings Institutions Division, North Carolina Department of Commerce (the
"Administrator") for permission to convert from a North Carolina mutual savings
bank to a North Carolina stock owned savings bank (the "Conversion"); and

               WHEREAS, as a part of the Conversion, the Holding Company has
applied to the Administrator for permission to acquire all of the capital stock
issued by the Savings Bank in the Conversion (the "Acquisition") and to sell
shares of the Holding Company's common stock to certain persons in a
subscription and a community offering and, if necessary, in a syndicated
community offering; and

               WHEREAS, the Administrator, the Holding Company and the Savings
Bank wish to protect the interests of the depositors of the Savings Bank and the
Savings Association Insurance Fund; and

               WHEREAS, by letter dated November 10, 1997, the Administrator
has approved the Conversion and the Acquisition conditional upon, among other
things, the Holding Company and the Savings Bank entering this Agreement (the
"Approval").

               NOW, THEREFORE, in consideration of the premises and the mutual
covenants and agreements contained herein, the parties agree that, following the
Conversion and Acquisition, the Holding Company and the Savings Bank will
maintain the capital of the Savings Bank at all times in compliance with the
applicable capital requirements of all federal and state regulatory agencies
having supervisory authority over the Savings Bank, including the capital
requirements of the Administrator and the Federal Deposit Insurance Corporation.
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               IN WITNESS WHEREOF, this Agreement has been executed by each
director of the Holding Company and the Savings Bank.


DIRECTORS OF CODDLE CREEK                    DIRECTORS OF MOORESVILLE
                                             SAVINGS
FINANCIAL CORP.:                             BANK, INC., SSB:


/s/ Willis L. Barnette                       /s/ Willis L. Barnette
----------------------------------           ----------------------------------
Willis L. Barnette                           Willis L. Barnette

/s/ Donald R. Belk                           /s/ Donald R. Belk       
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Donald R. Belk                               Donald R. Belk

/s/ Dale W. Brawley                          
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Dale W. Brawley                              

/s/ George W. Brawley, Jr.                   /s/ George W. Brawley, Jr.
----------------------------------           ----------------------------------
George W. Brawley, Jr.                       George W. Brawley, Jr.

/s/ Jack G. Lawler                           /s/ Jack G. Lawler
----------------------------------           ----------------------------------
Jack G. Lawler                               Jack G. Lawler

/s/ Calvin E. Tyner                          /s/ Calvin E. Tyner
----------------------------------           ----------------------------------
Calvin E. Tyner                              Calvin E. Tyner

/s/ Claude U. Voils, Jr.                     /s/ Claude U. Voils, Jr.
----------------------------------           ----------------------------------
Claude U. Voils, Jr.                         Claude U. Voils, Jr.



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