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BB&T PURCHASES FIRST AMERICAN SAVINGS BANK LOAN PORTFOLIOS

 WILSON, N.C., Nov. 27 ~PRNewswire~ -- On Nov. 20, 1992, Branch Banking and Trust Company (BB&T) purchased the majority of the Equity Line and Personal Line of Credit loan portfolios of First American Savings Bank.
 BB&T is North Carolina's oldest and fourth largest bank and this purchase is representative of BB&T's continuing commitment to retail lending.
 BB&T was one of twelve institutions bidding on this segment of First American's Loan portfolio being handled by the Resolution Trust Corporation (RTC). The purchase includes approximately 2,300 accounts.
 BB&T and First American are confident that the needs of First American's Equity Line and Personal Line of Credit customers will be met.
 -0- 11~27~92
 ~CONTACT: Mike Kohler, Communications Coordinator, BB&T, 919-399-4647~
 (BBTF)


CO: Branch Banking and Trust Company; First American Savings Bank ST: North Carolina IN: FIN SU: TNM

SB -- CH001 -- 1760 11~27~92 09:01 EST
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Publication:PR Newswire
Date:Nov 27, 1992
Words:153
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