FIRST FINCORP DECLARES CASH DIVIDEND
FIRST FINCORP DECLARES CASH DIVIDEND KINSTON, N.C., Nov. 11 /PRNewswire/ -- First Fincorp, Inc.
(NASDAQ: FIFC), the parent of First Financial Savings Bank, Inc., Kinston, N.C., announced today that it will pay a cash dividend of $.20 per share on the Company's outstanding stock. The dividend will be paid on Dec. 15, 1992 to stockholders of record on Nov. 24, 1992.
On April 12, 1992, First Fincorp and BB&T Financial Corporation (NASDAQ-NMS: BBTF), parent of Branch Banking and Trust Company, announced approval by their respective Boards of Directors of an agreement to merge the two companies. This $.20 per share dividend will be paid whether or not stockholders vote to approve the merger. After the proposed merger is approved by First Fincorp's stockholders and appropriate regulatory authorities, First Financial will be merged into Branch Banking and Trust Company. It is anticipated that the mergers of First Fincorp into BB&T Financial Corporation and First Financial into Branch Banking and Trust Company will take place during the first quarter of 1993. -0- 11/11/92 /CONTACT: C. Allen Summerlin, First Fincorp, 919-527-0191/ (FIFC BBTF) CO: First Fincorp; BB&T Financial Corporation ST: North Carolina IN: FIN SU: DIV TNM
MM -- CH006 -- 9798 11/11/92 14:23 EST
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|Date:||Nov 11, 1992|
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