MEMPHIS, Tenn., June 20 /PRNewswire/ --
National Commerce Financial Corporation (Nasdaq: NCBCE) announced today a
stock repurchase program authorizing the repurchase of up to five million
shares through December 31, 2002.
(Photo: http://www.newscom.com/cgi-bin/prnh/20010510/NCBCLOGO )
The plan was approved at yesterday's regular meeting of the company's
board of directors. The company also announced that it had repurchased
substantially all of the available shares under a four million share
authorization adopted in 1999. At March 31, 2001, National Commerce Financial
had approximately 205.5 million common shares outstanding.
About National Commerce Financial
National Commerce Financial Corporation is a leading provider of
diversified financial and consulting services delivered through its national
network of banking and non-banking affiliates. With $16.6 billion in assets
and approximately 400 locations throughout the Southeast, National Commerce
Financial is headquartered in Memphis, Tenn., and maintains operational
headquarters in Durham, N.C.
Forward-looking Statements
These statements constitute forward-looking statements (within the meaning
of the Private Securities Litigation Reform Act of 1995), which involve
significant risks and uncertainties. A variety of factors could cause actual
results and experience to differ materially from the anticipated results or
other expectations expressed in such forward-looking statements.
NCF does not assume any obligation to update these forward-looking
statements or to update the reasons why actual results could differ from those
projected in the forward-looking statements.
Factors that might cause such a difference include, but are not limited to
competition from both financial and non-financial institutions; changes in
interest rates, deposit flows, loan demand and real estate values; changes in
legislation or regulation; changes in accounting principles, policies or
guidelines; the timing and occurrence (or non-occurrence) of transactions and
events that may be subject to circumstances beyond the control of NCF; and
other economic, competitive, governmental, regulatory and technological
factors affecting NCF specifically or the banking industry or economy
generally.
SOURCE National Commerce Financial Corporation
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Related links:
http://www.ncfcorp.com
Photo Notes:
NewsCom:
http://www.newscom.com/cgi-bin/prnh/20010510/NCBCLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, 888-776-6555 or 212-782-2840
CONTACT:
Eileen Sarro, 919-683-7642, or M.J.A. "Jekka"
Pinckney, 901-523-3525, both of Commerce Financial Corporation
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