ROCKY MOUNT, N.C., Oct. 11 /PRNewswire/ -- Centura Banks Inc. (NYSE: CBC)
announced today that shareholders of FirstSouth Bank have approved the merger
of FirstSouth with Centura. Under the terms of the agreement, FirstSouth
shareholders will receive 0.55 shares of Centura common stock for each share
of FirstSouth stock. With all necessary approvals in place, Centura and
FirstSouth expect to complete the transaction at the close of business on Oct.
25.
Under Securities and Exchange Commission rules, Centura is now allowed and
intends to resume its purchase program of Centura common stock in the open
market.
With assets of $5.9 billion, Centura provides a complete line of banking,
investment, insurance and trust services to individuals and businesses
throughout North Carolina. It provides services through 159 traditional and
supermarket financial centers, more than 230 ATMs at financial centers, Wal-
Mart and Sam's stores, its Centura Highway telephone banking center, Quicken
and Microsoft Money, the leading personal finance software packages, and
America Online, the world's largest provider of online services.
For further information on Centura, visit Centura Highway on the World
Wide Web at http://www.centura.com.
SOURCE Centura Banks Inc.
 back to top
CONTACT:
Frank L. Pattillo, Chief Financial Officer,
Centura Banks Inc., 919-977-8341, or Email: fpattillo@centura.com
|
