ROCKY MOUNT, N.C., July 15 /PRNewswire/ -- Centura Banks Inc. (NYSE: CBC)
has reached an agreement to purchase five banking centers from NationsBank
(NYSE: NB). The five offices have deposits of approximately $92 million and
loans of approximately $55 million. The acquisition will strengthen Centura's
already significant market share and customer base in the central and eastern
regions of North Carolina.
"The acquisition is an excellent strategic fit for Centura," said Cecil W.
Sewell, Centura's chairman and chief executive officer. "The five banking
centers complement Centura's existing franchise, particularly in eastern
regions of North Carolina, and fit well with our pending acquisition of
13 offices from Branch Banking and Trust Company."
The offices are located in the towns of Calabash, Dunn, Harmony, Richlands
-- new markets for Centura -- and Hertford. The transaction, which is subject
to approval by appropriate regulatory agencies, is expected to be finalized
during the fourth quarter.
With assets of $6.7 billion, Centura provides a complete line of banking,
investment, insurance and trust services to individuals and businesses
throughout North Carolina and the Tidewater region of Virginia. Services are
provided through 172 financial centers; more than 265 ATMs at financial
centers, Wal-Mart and Sam's stores; the Centura Highway telephone banking
center; and Quicken, Quick-Books and Microsoft Money, the leading financial
software packages. Additional information about Centura is available on its
web site at http://www.centura.com.
SOURCE Centura Banks Inc.
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CONTACT:
Steven Goldstein, Chief Financial Officer,
Centura Banks Inc., 919-977-8356 or sgoldstein@centura.com
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