It happened around 9:30 p.m. after officers were called to an apartment on North Street. When police arrived, they found two men on the steps of a second floor apartment.
Officers said one of the men, 47-year-old Darryl Wiggins, of Baltimore, had a handgun and the other man appeared to have been assaulted.
Wiggins reportedly refused to drop the handgun and pointed it at the police, prompting officers to shoot him.
Wiggins and the other man were taken to Johnston Medical Center, where Wiggins later died. The second man was treated for head injuries. His name and condition have not been released.
The State Bureau of Investigation is currently investigating the incident.
The two officers involved in the shooting are on desk duty until the SBI finishes its investigation.