Printer Friendly

CENTURA BANKS INC. COMPLETES MERGER WITH FIRST CAROLINA

 ROCKY MOUNT, N.C., Dec. 31 /PRNewswire/ -- Centura Banks Inc. (NYSE: CBC) announced today the completion of its merger with First Carolina Bank and Trust in Sanford. First Carolina was a stockholder-owned commercial bank with approximately $46 million in assets and three branch locations. As part of the merger, First Carolina was merged into Mid-South Bank, Centura's wholly-owned subsidiary which is also based in Sanford. All of First Carolina's offices have reopened as branches of Mid-South Bank. Mid-South Bank will have total assets of approximately $200 million as a result of the merger with 13 branch locations.
 "We are excited about the benefits of this transaction," stated Joseph L. Wallace Jr., president of Mid-South Bank. "The merger significantly strengthens our market position and gives Mid-South the dominant share of deposits in Lee County. Additionally, First Carolina customers will be exposed to a broader array of products and accessibility to a larger branch network."
 With approximately $3 billion in assets, Centura Banks Inc. offers a broad range of personal, business and trust services through its two subsidiaries, Centura Bank and Mid-South Bank. It operates 130 branches in 71 cities located throughout North Carolina.
 -0- 12/31/92
 /CONTACT: A. Douglas Haynes, Director of Marketing, Centura Banks, Inc., 919-977-8429/
 (CBC)


CO: Centura Banks, Inc.; First Carolina Bank and Trust; Mid-South Bank ST: North Carolina IN: FIN SU: TNM

JM -- CH005 -- 0874 12/31/92 11:15 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 31, 1992
Words:235
Previous Article:PRIME BANCSHARES REPORTS FEDERAL RESERVE BOARD APPROVAL
Next Article:CINTAS ANNOUNCES RESULTS FOR THE SECOND QUARTER ENDED NOV. 30, 1992
Topics:


Related Articles
CENTURA BANKS INC. COMPLETES MERGER WITH CITIZENS FEDERAL
CENTURA BANKS INC. AND CANTON SAVINGS BANK AGREE TO MERGE
CENTURA COMPLETES MERGER WITH MID-SOUTH BANK
CENTURA BANKS, INC. AND CLEVELAND FEDERAL COMPLETE MERGER
FIRST COMMERCIAL SHAREHOLDERS APPROVE MERGER
CENTURA EXPANDS PRESENCE IN PIEDMONT NORTH CAROLINA
Centura Completes Merger With First Community
Centura Banks and Triangle Bancorp Announce Merger-Related Branch Divestitures.
Centura Banks and Triangle Bancorp Announce Merger-Related Branch Divestitures.
Centura Banks Inc. and Triangle Bancorp Inc. Shareholders Approve the Merger of the Two Companies.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters