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CCB ANNOUNCES FIRST QUARTER EARNINGS

 CCB ANNOUNCES FIRST QUARTER EARNINGS
 DURHAM, N.C., April 13 /PRNewswire/ -- For the first quarter ended


March 31, 1992, net income for CCB Financial Corporation (NASDAQ-NMS: CCBF) was $5,005,000 compared to $5,247,000 in the first quarter of 1991. Primary income per share was $.98 compared to $1.04, while on a fully diluted basis, net income per share was $.93 compared to $.98. Total assets of the Corporation were $2,158,134,000 at March 31, 1992, an increase of 4.1 percent over total assets of $2,073,623,000 at March 31, 1991.
 E.C. Roessler, Executive Vice President and Chief Financial Officer of CCB Financial Corporation, commented, "Our earnings results are disappointing and are primarily because of loan loss charges in this quarter being higher than the favorable results experienced in the first quarter of 1991. Encouraging signs are a recent restoration of growth in loans, a substantial decrease in accruing loans 90 days past due, and favorable indications of a downturn in non-performing assets."
 CCB Financial Corporation is the bank holding company for Central Carolina Bank and Trust Company and Republic Bank & Trust Company and operates 97 offices located primarily in the Piedmont section of North Carolina.
 CCB Financial Corporation and Subsidiaries
 FINANCIAL HIGHLIGHTS
 (In Thousands Except Per Share Data)
 Percent
 Three Months Ended Increase
 1992 1991 (Decrease)
 Net Income and Dividends
 Net income $5,005 5,247 (4.6)
 Income per share:
 Primary .98 1.04 (5.8)
 Fully diluted (A) .93 .98 (5.1)
 Average shares outstanding:
 Primary 5,094 5,066 .6
 Fully diluted (A) 5,719 5,691 .5
 Cash dividends per share .405 .38 6.6
 Average Balances
 Assets $2,120,767 2,047,840 3.6
 Loans and lease
 financing 1,449,201 1,408,595 2.9
 Deposits 1,857,513 1,787,918 3.9
 Shareholders' equity 170,074 155,037 9.7
 Performance Ratios
 Net income to:
 Average assets (Pct.) .94 1.02 -
 Average shareholders'
 equity 11.77 13.54
 Percent
 March 31 Increase
 At Period End 1992 1991 (Decrease)
 Assets $2,158,134 2,073,623 4.1
 Loans and lease
 financing 1,464,623 1,414,135 3.6
 Reserve for loan
 and lease losses 18,145 16,535 9.7
 Deposits 1,901,953 1,814,344 4.8
 Long-term debt 25,597 25,648 (.2)
 Shareholders' equity 172,449 158,224 9.0
 Book value per share 33.85 31.24 8.4
 Nonaccrual loans 18,412 15,215 21.0
 Restructured loans 129 - -
 Foreclosed real estate 10,650 6,435 65.5
 Accruing loans ninety
 days past due 2,533 13,629 (81.4)
 (A) Assumes full conversion of subordinated
 debentures issued in 1985.
 -0- 4/13/92
 /CONTACT: W. Harold Parker, Jr., CCB Financial Corporation, 919-683-7631/
 (CCBF) CO: CCB Financial Corporation ST: North Carolina IN: FIN SU: ERN


DF -- CH016 -- 7971 04/13/92 17:25 EDT
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Date:Apr 13, 1992
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