ROCKY MOUNT, N.C., May 21 /PRNewswire/ -- Centura Bank has agreed to
purchase 13 banking offices with deposits of $311 million and loans of
approximately $200 million from United Carolina Bank and Branch Banking &
Trust Co. The transaction will significantly increase Centura's market share
and customer base in Eastern North Carolina.
    Since the net interest margin on the acquired loans and deposits is
similar to Centura's existing margin and the loan-to-deposit ratio is greater
than 60 percent, the transaction is expected to add value for Centura
shareholders almost immediately.
    "This broadens our market share in the eastern region of North Carolina,
which is our traditional base of strength," said Cecil W. Sewell, Centura's
chairman and chief executive officer.  "The locations complement markets we
already serve, and we will be able to provide new opportunities to customers
through our broad range of services such as online banking, telephone banking,
insurance, securities and more."
    The 13 offices are located in 10 communities in Eastern and Southeastern
North Carolina.  The towns of Clinton, Wadesboro and Whiteville each have two
offices, and single locations are in Goldsboro, Rockingham, Chadbourn, Faison,
Raeford, Kenansville and Williamston.
    Centura expects to complete the transaction by mid-August.
    The acquisition will push the company's assets above $6.7 billion. Centura
Bank, a subsidiary of Centura Banks Inc. (NYSE: CBC), provides a complete line
of banking, investment, insurance and trust services to individuals and
businesses throughout North Carolina and Virginia.  It provides services
through 172 financial centers; more than 265 ATMs at financial stores, Wal-
Mart and Sam's stores; the Centura Highway telephone banking center; and
Quicken, QuickBooks and Microsoft Money, the leading financial
software packages; and its web site at http://www.centura.com.

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