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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Act of 1934
Date of Report (Date of earliest event reported): August 16, 1996
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CENTURA BANKS, INC.
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(Exact name of registrant as specified in charter)
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North Carolina 1-10646 56-1688522
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(State of Incorporation) (Commission File Number) (IRS Employer Identification No.)
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134 North Church Street, Rocky Mount, North Carolina 27804
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(Address of principal executive office) (Zip code)
Registrant's telephone number, including area code: (919) 977-4400
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N/A
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(Former name or former address, if changed since last report)
Exhibit Index on Page 4.
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Item 2. Acquisition or Disposition of Assets:
On August 15, 1996, Centura Banks, Inc. ("Centura") announced that it has
successfully completed its merger with First Community Bank in Gastonia, North
Carolina. The merger was consummated through the issuance of .96 shares of
Centura common stock for each share of First Community stock. The transaction
resulted in the recognition of approximately $16 million of goodwill. First
Community's four offices will open as Centura financial centers on Monday August
19, 1996. A press release is attached as Exhibit 99.
Item 7. Financial statements and Exhibits.
The exhibit listed in the Exhibit Index is filed herewith as part of this
Current Report on Form 8-K.
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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.
CENTURA BANKS, INC.
Registrant
Date: August 16, 1996 By: /s/ Frank L. Pattillo
Frank L. Pattillo
Chief Financial Officer
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EXHIBIT INDEX
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Sequential
Page
Exhibit Description of Exhibit Number
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99 Press release dated August 15, 1996 5
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For Immediate Release
August 15, 1996
Contacts: Frank L. Pattillo Donald R. Lineberger
Centura Bank First Community Bank
(919) 977-8341 (704) 868-4251
[email protected]
CENTURA COMPLETES MERGER WITH FIRST COMMUNITY
ROCKY MOUNT, N.C. -- Centura Banks Inc. (NYSE: CBC) concludes its
merger with First Community Bank in Gastonia, N.C., this week. First Community
shareholders approved the merger August 7, and the transition to Centura will
take place this weekend. The four First Community branches will reopen as
Centura financial centers on Monday, Aug. 19.
First Community has assets of $121 million, with locations in Gaston
County: three in Gastonia and one in Dallas. First Community has the third
highest market share of bank deposits in Gastonia, which is about 20 miles west
of Charlotte. The addition of First Community is the latest in a string of
Western North Carolina acquisitions by Centura in recent years with institutions
in Charlotte, Asheville, Brevard, Shelby, Forest City and Rutherfordton.
Under the agreement, First Community shareholders will receive .96
shares of Centura stock for each share of First Community stock.
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With assets of $5.6 billion, Centura offers a full range of banking,
investment, insurance and trust services to individuals and businesses
throughout North Carolina. It provides services through 153 financial centers,
more than 200 ATMS at financial centers, Wal-Mart and Sam's stores, its Centura
Highway telephone banking center and Quicken and Microsoft Money, the leading
personal finance software packages. Next month, Centura begins opening banks in
Hannaford supermarkets in the Carolinas.
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