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 18, 1997
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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.
t:\brass\sec\/8K\8-K.doc
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Item 2. Acquisition or Disposition of Assets:
On August 18, 1997, Centura Banks, Inc. ("Centura")successfully completed its
assumption of loans and deposits of 13 branches acquired as a result of
Branch Banking & Trust Company's merger with United Carolina Bank. 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 18, 1997 By: /s/ Steven Goldstein
Steven Goldstein
Chief Financial Officer
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EXHIBIT INDEX
Sequential
Page
Exhibit Description of Exhibit Number
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99 Press release dated August 18, 1997 5
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August 18, 1997
FOR IMMEDIATE RELEASE Contact: Bruce Gillikin
Centura Bank
(919) 937-3716
CENTURA ACQUIRES $484 MILLION IN BANK DEPOSITS AND LOANS,
SIGNIFICANTLY BOOSTING EASTERN NORTH CAROLINA MARKET SHARE
ROCKY MOUNT, N.C. -- Centura Banks Inc. (NYSE:CBC) today adds 13 new
branches in 10 markets, giving it increased market share and a significant
number of new customers in Eastern North Carolina.
The new financial stores are the result of Branch Banking & Trust
Company's (BB&T) merger with United Carolina Bank (UCB). Earlier this year
Centura reached an agreement to acquire the 13 branches from BB&T and UCB with
$313 million in deposits and $171 million in loans.
"This gives us a much broader market share in the eastern part of our
state, which is our traditional base of strength," said Cecil W. Sewell, Centura
president and chief executive officer. "We expect our new customers to find
value in the additional products and services we offer,
-more-
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Centura
Page 2
August 18, 1997
such as online banking, our Centura Highway telephone banking center,
securities, insurance and leasing. Centura will acquire two new branches each
in Clinton, Wadesboro and Whiteville as part of the deal and one branch apiece
in Goldsboro, Faison, Williamston, Kenansville, Chadbourn, Rockingham and
Raeford.
Centura is acquiring the assets after BB&T and UCB agreed to sell 20
branches to resolve the U.S. Justice Department's antitrust concerns over the
two banks' proposed merger.
With assets of $7 billion, Centura provides a complete line of banking,
investment, insurance, leasing and trust services to individuals and businesses
throughout North Carolina and the Hampton Roads area of Virginia. Services are
provided through 187 financial centers; including 22 full-service locations in
supermarkets; more than 265 ATMs at financial centers, Wal-Mart stores and Sam's
stores; the Centura Highway telephone banking center; Centura's Internet site;
and through Quicken(R), QuickBooks(R), Microsoft(R) Money and BankNOW(TM), the
leading online money management software packages. Additional information about
Centura is available on its web site at www.centura.com.
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