Fields said deputies were dispatched just after 6:15 p.m. on Thursday to the 100 block of Pinewood Drive in West End for a disturbance call.
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The caller said her son was in the yard with a knife and could hear an altercation taking place as people were yelling. She then told authorities that her son then came into the house and told her he had killed the neighbor.
According to the sheriff's office, the caller then told dispatch that her son was going after her other son.
When the first deputy arrived, he commanded the man to drop the knife. The man refused and then began to advance toward the deputy, the sheriff's office said.
After several commands to drop the knife, the deputy shot the armed man.
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The deputy began life-saving measures as other units arrived, the sheriff's office said, but the man was pronounced dead shortly afterward.
The sheriff's office contacted the North Carolina State Bureau of Investigation, as is standard in officer-involved shootings.
"Our thoughts and prayers go out to the family of the deceased, and all others involved with this unfortunate situation," Fields said in a statement.
The identity of the man has not been released.
The sheriff's office did not immediately confirm whether there were other victims.