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REGENCY BANCSHARES ANNOUNCES APPROVAL BY SHAREHOLDERS OF PLANNED MERGER WITH SOUTHERN NATIONAL CORPORATION

 HICKORY, N.C. Dec. 30, /PRNewswire/ -- Regency Bancshares, Inc. (NASDAQ: RBSI) announced the approval by its shareholders of its planned merger with Southern National Corporation (NYSE; SNB). The merger, approved at Regency's Dec. 29, 1993 annual meeting, is expected to occur around Jan. 31, 1994.
 "We have received Federal Reserve Board approval and expect to receive remaining regulatory clearances in January," said Wilbert W. Seabock, Regency president and chief executive officer. "Final pricing for the transaction will occur shortly before closing."
 Regency, a bank holding company with approximately $272 million in assets at Sept. 30, 1993, has two principal subsidiaries, First Savings Bank, SSB, and Davidson Savings Bank, SSB, and operates branches in Hickory (4), Lenoir, Lexington (2), Welcome, Denton and Statesville, N.C.
 -0- 12/30/93
 /CONTACT: Wilbert W. Seabock, president and chief executive officer of Regency Bancshares, 704-323-1600/
 (RBSI)


CO: Regency Bancshares, Inc. ST: North Carolina IN: FIN SU: TNM

MM -- CH003 -- 8057 12/30/93 12:23 EST
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Publication:PR Newswire
Date:Dec 30, 1993
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