U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities and Exchange Act of 1934
Date of Report (Date of earliest event reported) September 16, 1997
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TRIANGLE BANCORP, INC.
North Carolina 0-21346 56-1764546
(State of other jurisdiction (Commission File Number) IRS Employer
of incorporation) Identification No.)
4300 Glenwood Avenue, Raleigh, North Carolina 27612
(Address of principal executive office) (Zip Code)
Registrant's telephone number, including area code (919) 881-0455
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Item 5. Other Information
The board of directors of Triangle Bancorp, Inc. (Triangle) has
rescinded the stock repurchase program which it authorized on May 13,
1997 and announced in an 8-K filed on May 16, 1997. The original plan
authorized the repurchase of up to 170,000 shares of the Corporation's
common stock, or approximately 1.6% of the then issued and outstanding
shares. As of September 16, 1997, Triangle has repurchased 40,200
shares under the plan. The rescission will be effective as of October
3, 1997.
Item 7. Exhibits
10 Press Release regarding the rescission
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934,
Triangle Bancorp, Inc. has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
TRIANGLE BANCORP, INC.
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(Registrant)
Date: September 19, 1997 By: /s/ Debra L. Lee
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Chief Financial Officer
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EXHIBIT INDEX
Page
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10 Press Release regarding the rescission 5
[LOGO APPEARS HERE] TRIANGLE BANCORP P.O. Box 19178
Raleigh, North Carolina 27619-9178
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NEWS RELEASE
For more information, contact:
Debra L. Lee, Chief Financial Officer, or
Alexander M. Donaldson, General Counsel
(919) 881-0455
FOR IMMEDIATE RELEASE September 16, 1997
TRIANGLE BANCORP RESCINDS STOCK REPURCHASE
Raleigh, NC...The board of directors of Triangle Bancorp, Inc. (Triangle)
has rescinded the stock repurchase program which it authorized on May 13, 1997.
The original plan authorized the repurchase of up to 170,000 shares of the
Corporation's common stock, or approximately 1.6% of issued and outstanding
shares. To-date, Triangle has repurchased 40,200 shares under the plan. The
rescission will be effective as of October 3, 1997.
Triangle stock trades on the NASDAQ National Over-the-Counter Market under
the symbol TRBC.
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