ATLANTA, Jan. 10 /PRNewswire/ -- Premier Bancshares, Inc. (NYSE: PMB)
today announced the approval by its shareholders of Premier's merger with and
into BB&T Corporation (NYSE: BBT). In the merger, each share of common stock
of Premier outstanding will be converted in the right to receive 0.5155 of a
share of common stock of BB&T. It is expected that the merger will be
consummated on or before February 1, 2000. The merger is subject to final
regulatory approval.
Premier Bancshares, Inc. is a Georgia-based bank holding company with
assets in excess of $2 billion. BB&T Corporation is a multi-bank holding
company headquartered in Winston-Salem, North Carolina whose assets,
including pending mergers, exceed $45 billion. BB&T conducts operations in
North Carolina, South Carolina, Virginia, Maryland, the District of Columbia,
Georgia, West Virginia, and Kentucky.
For additional information, contact Darrell D. Pittard, Chairman and Chief
Executive Officer of Premier Bancshares, Inc.
SOURCE Premier Bancshares, Inc.
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Related links:
http://www.premierbancshares.com
CONTACT:
Darrell D. Pittard, Chairman and Chief
Executive Officer of Premier Bancshares, Inc., 404-814-3090
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