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SECURITY FINANCIAL HOLDING COMPANY POSTPONES DIVIDEND FOR FOURTH QUARTER PENDING CLOSING OF MERGER WITH BB&T FINANCIAL CORPORATION

 DURHAM, N.C., Jan. 21 /PRNewswire/ -- Security Financial Holding Company (NASDAQ: SECF), the parent of Security Federal Savings Bank, Durham, N.C., announced today that its Board of Directors was postponing its dividend for the quarter pending completion of the previously announced merger with BB&T Financial Corporation (NASDAQ: BBTF). Security has paid a dividend each quarter since the fourth quarter of 1990.
 Larry D. Brock, President and Chief Executive Officer of the Company, stated, "If the merger is approved by Security's stockholders at the meeting to be held on Jan. 28, 1993, we fully anticipate that the merger will close in time for stockholders to receive BB&T's regular quarterly dividend in March. The Board of Directors has reserved the right to pay a dividend if the merger is not closed in sufficient time for stockholders to receive the March BB&T dividend."
 Security Federal Savings Bank, the wholly-owned subsidiary of Security Financial Holding Company, is the largest savings bank in Durham, N.C. With $320 million in assets, it provides a full range of financial services through nine locations in the Durham, Butner/Creedmoor and Chapel Hill areas.
 -0- 1/21/93
 /CONTACT: Larry D. Brock, President & Chief Executive Officer; or Robert F. Stockwell, Chief Financial Officer, both of Security Financial Holding Company, 919-687-7200/
 (SECF BBTF)


CO: Security Financial Holding Company; BB&T Financial Corporation ST: North Carolina IN: FIN SU: DIV

MM -- CH012 -- 7571 01/21/93 15:47 EST
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Publication:PR Newswire
Date:Jan 21, 1993
Words:243
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