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CENTRAL CAROLINA BANK AND TRUST AND REPUBLIC BANK AND TRUST TO MERGE

CENTRAL CAROLINA BANK AND TRUST AND REPUBLIC BANK AND TRUST TO MERGE
 DURHAM, N.C., June 17 /PRNewswire/ -- Republic Bank and Trust Company, headquartered in Charlotte, will be merged into Central Carolina Bank and Trust, headquartered in Durham, over the next several months, announced William L. Burns, Jr., president and CEO of Central Carolina Bank. Both banks are wholly-owned subsidiaries of CCB Financial Corporation (NASDAQ-NMS: CCBF), a bank holding company with over $2 billion in assets. Republic Bank and Trust has been a subsidiary since 1986.
 According to Burns, "This decision was made to enable us to achieve greater operating efficiencies and to provide better service to all of our customers. Expansion in Charlotte is part of CCB's strategic plan. This is the first step in implementing that part of the plan. Approximately fifty non-customer contact staff positions at Republic Bank will no longer be needed as a result of the consolidation. Every effort will be made as this change takes place to find the staff members occupying those positions another place within our organization," he concluded.
 In a separate statement, James T. Bolt, Jr., president of Republic Bank and Trust, said, "CCB is one of North Carolina's strongest and most stable banks. In 1991, CCB marked its 27th consecutive year of increased dividend payments. Few companies can match that record. CCB is committed to Mecklenburg County. Plans are underway for a new main office on Kings Drive and additional offices will be added in the future. As CCB's Mecklenburg Region, our focus will continue to be on serving the needs of the Charlotte community," he added.
 Combined, CCB and Republic serve 34 communities in the Piedmont and Wilmington with 97 branch offices.
 -0- 6/17/92
 /CONTACT: Richard L. Furr, 919-683-7697, William L. Burns, Jr., 919-683-7600, or Susan L. Howerton, 919-683-7641, all of CCB Financial Corporation in Durham, or James T. Bolt, Jr. of Republic Bank and Trust Company in Charlotte, 704-347-6100/
 (CCBF) CO: Republic Bank and Trust Company; Central Carolina Bank and Trust;
 CCB Financial Corporation ST: North Carolina IN: FIN SU: TNM


CM -- CH009 -- 1153 06/17/92 14:44 EDT
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Publication:PR Newswire
Date:Jun 17, 1992
Words:354
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