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CENTURA COMPLETES MERGER WITH FIRST SAVINGS BANK OF FOREST CITY

 ROCKY MOUNT, N.C., Oct. 14 /PRNewswire/ -- Centura Banks Inc. (NYSE: CBC) announced today the completion of its merger with First Savings Bank of Forest City, a mutually owned savings bank with approximately $67 million in assets.
 As part of the merger, First Savings was converted to stock ownership and simultaneously combined with Centura. The First Savings branch in Forest City will reopen as a Centura office on Friday, Oct. 15.
 In conjunction with the merger, Centura Banks Inc. issued common stock valued at approximately $9 million.
 Centura Banks Inc., with more than $3.7 billion in assets, offers a broad range of personal, business and trust financial services through its two subsidiaries, Centura Bank and Mid-South Bank. It now operates 147 offices in 84 communities located throughout North Carolina.
 -0- 10/14/93
 /CONTACT: A. Douglas Haynes, director of marketing, of Centura Banks, 919-977-8429/
 (CBC)


CO: Centura Banks Inc. ST: North Carolina IN: FIN SU: TNM

MM -- CH008 -- 2177 10/14/93 11:19 EDT
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Publication:PR Newswire
Date:Oct 14, 1993
Words:166
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