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CCB ANNOUNCES $40 MILLION 6 3/4 PERCENT SUBORDINATED DEBT OFFERING AND COMMON STOCK OFFERING

 DURHAM, N.C., Nov. 19 /PRNewswire/ -- CCB Financial Corporation (NASDAQ-NMS: CCBF) announced today the sale at par of $40 million of 6 3/4 percent subordinated notes due Dec. 1, 2003 and 550,000 shares of common stock at $32.50 per share before underwriting discounts. Wheat First Butcher & Singer Capital Markets is serving as sole manager for both offerings.
 The proceeds from the sale of the notes and the common stock will be used by CCB to repay a short-term credit facility and for general corporate purposes, including extending credit to, or funding investments in, CCB's subsidiaries, or financing acquisitions.
 CCB Financial Corporation is a bank holding company operating 116 offices in 38 communities in North Carolina. The company is the eighth largest banking organization headquartered in North Carolina with total assets of approximately $3.2 billion. CCB common stock is traded through Nasdaq National Market.
 -0- 11/19/93
 /CONTACT: W. Harold Parker Jr. of CCB Financial, 919-683-7631/
 (CCBF)


CO: CCB Financial Corporation ST: North Carolina IN: FIN SU: OFR

MM -- CH002 -- 6440 11/19/93 10:20 EST
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Publication:PR Newswire
Date:Nov 19, 1993
Words:181
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