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CENTURA COMPLETES MERGER WITH GRANITE SAVINGS BANK

 ROCKY MOUNT, N.C., July 30 /PRNewswire/ -- Centura Banks Inc. (NYSE: CBC) announced today the completion of its merger with Granite Savings Bank. Granite Savings, with offices in Granite Falls and Hudson, was a mutually owned savings bank with approximately $100 million in assets. As part of the merger, Granite Savings was converted to stock ownership and simultaneously combined with Centura. The Granite Savings offices will reopen as branches of Centura on Monday, Aug. 2.
 "With the strong support of its customer base and the communities it serves, Granite Savings is a welcome addition to our growing franchise," said Robert R. Mauldin, Centura's chairman and president. "The merger represents expansion into new markets for Centura and the opportunity to serve Caldwell and surrounding counties."
 Centura Banks Inc. offers a broad range of financial services through its subsidiaries, Centura Bank and Mid-South Bank and Trust Co. With approximately $3 billion in assets, it now operates 135 branches in 77 communities located throughout North Carolina.
 -0- 7/30/93
 /CONTACT: Cecil W. Sewell Jr. of Centura Banks, 919-977-4813/
 (CBC)


CO: Centura Banks Inc.; Granite Savings Bank ST: North Carolina IN: FIN SU: TNM

CM -- CH009 -- 7861 07/30/93 15:27 EDT
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Publication:PR Newswire
Date:Jul 30, 1993
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