SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) April 16, 1996
CCB FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
North Carolina 0-12358 56-1347849
(State or other (Commission File No.) (IRS Employer
jurisdiction of Identification No.)
incorporation)
111 Corcoran Street, Post Office Box 931, Durham, NC 27702
(Address of principal executive offices)
Registrant's telephone number, including area code (919) 683-7777
N/A
(Former name or former address, if
changed since last report)
<PAGE>
Item 5. Other Events
On April 16, 1996, the Corporation announced that its Board of
Directors had adopted a stock repurchase program of up to 300,000
shares. Shares may be purchased in the open market or in private
transactions.
Item 7. Financial Statements and Exhibits
Financial Statements
None
Exhibits
Exhibit 99 Press Release dated April 16, 1996
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned thereunto duly authorized.
CCB FINANCIAL CORPORATION
Registrant
Date: April 22, 1996 By: /s/ W. HAROLD PARKER, JR.
W. Harold Parker, Jr.
Senior Vice President
and Controller
<PAGE>
News Release
For further information please contact:
W. Harold Parker, Jr. (919) 683-7631
FOR IMMEDIATE RELEASE April 16, 1996
CCB FINANCIAL CORPORATION ANNOUNCES STOCK
REPURCHASE PROGRAM AND QUARTERLY DIVIDEND
Durham, North Carolina-----At their regular quarterly
meeting, the Board of Directors of CCB Financial Corporation
approved a stock repurchase program of up to 300,000 shares.
Shares may be purchased in the open market or in private
transactions.
Ernest C. Roessler, President and Chief Executive
Officer of CCB Financial Corporation commented: "Our strong
capital position affords us the opportunity to repurchase
our stock. Under the approved repurchase program, we will
purchase shares that are issued under stock option and other
benefit plans. If our earnings and capital position
continue to show strength, we will consider additional
repurchases in 1997."
Additionally, the Board of Directors declared a regular
quarterly cash dividend of $.38 per share payable July 1,
1996 to shareholders of record June 17, 1996.
CCB Financial Corporation is the bank holding company
for Central Carolina Bank and Trust Company and Graham
Savings Bank, Inc., SSB which in total operate 157 offices
located primarily in the Piedmont section of North Carolina.
Nasdaq National Market Symbol: CCBF
Corcoran Street, P.O. Box 931
Durharm, North Carolina 27702
