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CCB ANNOUNCES PROPOSED COMMON STOCK AND SUBORDINATED NOTES OFFERINGS

 DURHAM, N.C., Oct. 28 /PRNewswire/ -- CCB Financial Corporation (NASDAQ-NMS: CCBF) announced today that it had filed registration statements with the Securities and Exchange Commission in connection with an offering of 550,000 shares of common stock and $40 million in subordinated notes. Proceeds from the offerings will be used to repay a $23 million short-term credit facility and for working capital purposes.
 Wheat First Butcher & Singer Capital Markets was named the managing underwriter on both offerings.
 CCB Financial Corporation is a bank holding company operating in 38 communities in North Carolina. At Sept. 30, 1993, pro forma for recent acquisitions, the company had $3.2 billion in assets, $2.8 billion in deposits and $226 million in shareholders' equity.
 Registration statements have been filed with the Securities and Exchange Commission but have not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statements become effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 10/28/93
 /CONTACT: W. Harold Parker Jr. of CCB Financial, 919-683-7631/
 (CCBF)


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

MM -- CH008 -- 7800 10/28/93 10:35 EDT
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Publication:PR Newswire
Date:Oct 28, 1993
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