UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One):
[ ] Form 10-K [ ] Form 20-F [x] Form 11-K [ ] Form 10-Q [ ] Form N-SAR
For Period Ended: 12-31-95 Commission file number : 1-10853
Part I - Registrant Information
Savings and Thrift Plan for the Employees
of Branch Banking and Trust Company
200 West Second Street Winston-Salem, NC 27101
(Address of Principal Executive Office, (City, State and Zip Code)
Street and Number)
Part II - Rules 12b-25 (b) and (c)
If the subject report could not be filed without unreasonable
effort or expense and the registrant seeks relief pursuant to Rule 12b-
25(b), the following should be completed. (Check box if appropriate)
[x] (a) The reasons described in reasonable detail in Part III of this
form could not be eliminated without unreasonable effort or
expense.
[x] (b) The subject annual report or semi-annual report / portion
thereof will be filed on or before the fifteenth calendar day
following the prescribed due date; or the subject quarterly report
/ portion thereof will be filed on or before the fifth calendar day
following the prescribed due date; and
[ ] (c) The accountant's statement or other exhibit required by Rule
12b-25(c) has been attached if applicable.
Part III - Narrative
The 1995 Annual Report on Form 11-K of the Savings and Thrift Plan
for the Employees of Branch Banking and Trust Company (the "Plan") could
not be filed within the prescribed time period without unreasonable
effort and expense. An independent service organization in another
geographical location performs the processing of transactions, detail
record keeping and other operational aspects of the Plan. The service
auditor's report was not available prior to June 30, 1996, the due date
for the Form 11-K.
The independent public accountants for the Plan are Arthur
Andersen LLP ("Arthur Andersen"). In order to express an opinion on the
financial statements of the Plan, Arthur Andersen relies on the service
auditor's report of the independent service organization, in accordance
with Statement of Auditing Standards No. 70. The alternative to reliance
on this report is performance by Arthur Andersen of certain audit steps
and review procedures with respect to the internal control environment,
operations and processing of transactions of the independent service
organization. Such an approach by Arthur Andersen would be unduly costly
to the Registrant and would require considerable effort.
As a result of the lack of availability of the service auditor's
report and, consequently, the lack of an auditors' report on the Plan
from Arthur Andersen, the Registrant hereby notifies the Securities and
Exchange Commission that the 1995 Annual Report on Form 11-K of the
Savings and Thrift Plan for the Employees of Branch Banking and Trust
Company will not be filed within the time period prescribed for Form 11-
K and will be filed no later than July 15, 1996.
Part IV - Other Information
(1) Name and telephone number of person to contact in regard to this
notification
Sherry A. Kellett 910 733-3003
(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under Section 13 or
15(d) of the Securities Exchange Act of 1934 or Section 30 of the
Investment Company Act of 1940 during the preceding 12 months (or for
such shorter) period that the registrant was required to file such
reports been filed? [x] Yes [ ] No
(3) Is it anticipated that any significant change in results of
operations from the corresponding period for the last fiscal year will
be reflected by the earnings statement to be included in the subject
report or portion thereof? [ ] Yes [x] No
Southern National Corporation
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the
undersigned hereunto duly authorized.
Branch Banking and Trust Company, Trustee
for the Savings and Thrift Plan for the
Employees of Branch Banking and Trust Company
Date: June 28, 1996 By: /s/ Raymond K. McCulloch
Raymond K. McCulloch, Senior Vice President
