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CENTURA TO ACQUIRE OFFICE IN NEW BERN

 CENTURA TO ACQUIRE OFFICE IN NEW BERN
 ROCKY MOUNT, N.C., Aug. 6 /PRNewswire/ -- Centura Bank (NYSE: CBC)


and Peoples Federal Savings Bank in Wilmington, N.C., have reached a preliminary agreement in which Centura will acquire Peoples Federal's New Bern office.
 The office is located at 1505 S. Glenburnie Road in New Bern, which is in Craven County near the North Carolina coast. Centura will assume control of the office, its staff and its deposits.
 "New Bern is a growing community with a strong economy; it is a market we have wanted to enter for quite some time," said J. Richard Futrell Jr., chairman and chief executive officer. "New Bern complements our eastern North Carolina franchise well. We welcome the employees and customers of Peoples Federal's New Bern office to the Centura family."
 Centura has offices in the nearby cities of Morehead City, Atlantic Beach, Greenville and Jacksonville.
 "We are selling the New Bern branch because we want to focus on our primary market, which is the Wilmington area," said Donald F. Pelling, president and chief executive officer of Peoples Federal. "We feel confident Centura will continue to provide the same kind of service to our customers they have received from Peoples Federal."
 The transaction is subject to a number of approvals by regulatory authorities, and is expected to be complete sometime during the first quarter of 1993.
 Centura Banks Inc., with its subsidiaries Centura Bank and Mid-South Bank in Sanford, had total assets on June 30, 1992, of $2.8 billion.
 -0- 8/6/92
 /CONTACT: Cecil W. Sewell Jr., Centura Banks Inc., 919-977-4813, or Donald F. Pelling, Peoples Federal Savings Bank, 919-763-9984/
 (CBC) CO: Centura Banks; Peoples Federal Savings Bank ST: North Carolina IN: FIN SU: TNM


JZ -- CH012 -- 7652 08/06/92 14:03 EDT
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Publication:PR Newswire
Date:Aug 6, 1992
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