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FIRST CITIZENS ASSUMES DEPOSITS, LOANS OF FIRST FEDERAL SAVINGS ASSOCIATION IN FRANKLINTON AND LOUISBURG

 FIRST CITIZENS ASSUMES DEPOSITS, LOANS OF FIRST FEDERAL SAVINGS
 ASSOCIATION IN FRANKLINTON AND LOUISBURG
 RALEIGH, N.C., March 6 /PRNewswire/ -- First Citizens Bank has assumed the deposits and acquired certain deposit-related loans of the Franklinton and Louisburg offices of the former First Federal Savings Association of Raleigh.
 Rocky Mount-based Centura Bank (NYSE: CBC) acquired certain of the deposits and loans of the former First Federal from the Resolution Trust Corporation (RTC). In a simultaneous transaction, Centura immediately sold the deposits and deposit-related loans in Franklinton and Louisburg to First Citizens Bank.
 First Citizens acquired the deposits and loans in these branches at the close of business on Friday, March 6, according to James B. Hyler Jr., First Citizens' president, who made the announcement today. In Franklinton, the bank acquired approximately $5.5 million in deposits and $216,000 in loans. First Citizens assumed approximately $6.2 million in deposits and acquired $48,000 in loans from the Louisburg branch.
 Customers will be served out of First Citizens offices beginning Monday, March 9. In Franklinton, accounts will transfer to the main office of First Citizens Bank located at 101 N. Main St. In Louisburg, accounts will transfer to the main office at 509 E. Nash St. First Citizens serves Franklin County with the Franklinton office, two Louisburg locations and branches in Bunn and Pilot.
 Hyler said the former thrift customers would be well-served by First Citizens' position of safety and soundness. The Bank has been named number one in safety among the country's 150 largest banks by an independent bank analysis company for 18 of the past 20 quarters.
 First Citizens is a $5.5 billion statewide financial institution based in Raleigh that serves 76 North Carolina counties with 321 offices in 170 cities and towns.
 -0- 3/6/92 R
 /CONTACT: Noel McLaughlin, First Citizens Bank, 919-755-2716 (office), 919-829-9291 (home)/
 (FCNCA CBC) CO: First Citizens Bank; Centura Bank ST: North Carolina IN: FIN SU: TNM


DF -- CH010 -- 6248 03/09/92 09:20 EST
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Publication:PR Newswire
Date:Mar 9, 1992
Words:334
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