ROCKY MOUNT, N.C., Jan. 29 /PRNewswire/ -- Centura Bank (NYSE: CBC) will
establish a charitable fund for the Greater Rocky Mount community-including
Nash and Edgecombe counties-honoring Dick Futrell and Bob Mauldin, the two men
who led the merger to form Centura in 1990. Futrell retired as Centura's
chairman and CEO in 1993, and Mauldin retires from the same position at the
end of this week.
    "This fund will be established in recognition of the extraordinary vision,
leadership and hard work put forth by Dick Futrell and Bob Mauldin in the
creation and growth of Centura Banks, Inc.," said Cecil W. Sewell Jr., who
becomes Centura's new chairman and chief executive officer in February. "This
community has been vitally important to the growth and development of our
company, and we wanted to recognize Bob's and Dick's service by giving
something back to this community in their honor."
    Centura's contributions to the fund, which will be called the Futrell-
Mauldin Community Fund for Greater Rocky Mount, could be as much as $1 million
over the next five years.  Centura will contribute $100,000 to the fund in
1997 and agrees to match that amount dollar-for-dollar if Futrell and Mauldin
raise an additional $100,000 for the fund. The grant can be renewed each year
for as many as five years based on an annual evaluation of achieved results,
continuing need and available funds.
    The Futrell-Mauldin Community Fund for Greater Rocky Mount will be an
unrestricted charitable fund administered by the North Carolina Community
Foundation in Raleigh. Mauldin and Futrell will recruit other members of the
community to serve on a non-profit board to oversee the fund and raise
additional money for community charities and causes. The local foundation
board will make contributions from the fund as it sees fit, without input
or approval from Centura.
    In a joint statement, Mauldin and Futrell said: "We deeply appreciate this
gift and look forward to using this fund as a means to improve the quality of
life in Nash and Edgecombe counties. This community has always been important
to us and to Centura, and now we have an opportunity to give something back.
We hope to use this initial gift as seed money to build a larger community
foundation similar to those in Raleigh, Charlotte and Greensboro to benefit
worthwhile charities and causes in our community. We also hope to enlist the
support of others to participate in strengthening our community for the
future."
    The North Carolina Community Foundation is a non-profit organization based
in Raleigh with a mission to enable North Carolinians of all means to make
significant and lasting gifts for the benefit of their communities.

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