DURHAM, N.C., Feb. 1 /PRNewswire/ -- CCB Financial Corporation (NYSE: CCB)
announced today that its Board of Directors authorized the purchase of up to
2,000,000 of its shares, as part of its continuing program of share
repurchases. The authorization also includes the repurchase of any shares
issued for the exercise of options, restricted stock awards, or other
corporate purposes. This action reflects CCB's ongoing efforts to manage its
capital base efficiently.
Purchases can begin immediately and will be made through open market or
privately negotiated transactions, subject to market conditions and trading
restrictions. The authorization will expire on December 31, 2000.
The Board of Directors also declared a regular quarterly cash dividend on
common stock of $.29. The dividend is payable April 3, 2000 to shareholders
of record March 15, 2000.
CCB Financial Corporation had 39.6 million common shares outstanding at
December 31, 1999.
CCB Financial Corporation offers a complete line of traditional banking
services, as well as a full array of financial products, such as investments,
insurance and trust services. Its two principal banking subsidiaries, Central
Carolina Bank and Trust Company in North Carolina and American Federal Bank,
FSB in South Carolina, serve customers through 207 offices, including
twenty-one open seven days a week in Harris Teeter stores, 228 ATMs, its
Telebanking Center, and on-line banking for both retail and commercial
accounts. As of December 31, 1999, CCB had total assets of $8.2 billion.
SOURCE CCB Financial Corporation
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http://www.ccbonline.com
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http://www.prnewswire.com/comp/150641.html or fax,
800-758-5804, ext. 150641
CONTACT:
analysts, Sheldon Fox, 919-683-7645, or
media, Eileen Sarro, 919-683-7642, both of CCB Financial
Corporation
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