Contact: W. Harold Parker, Jr.	      Phone Number:  (919) 683-7631 



FOR IMMEDIATE RELEASE	                August 17, 1994

GRAHAM SAVINGS DEPOSITORS TO GET AN ADDITIONAL $1,000,000

  Graham, NC - Maurice Koury and Cary Allred, two depositors 
of Graham Savings Bank, along with CCB Financial Corporation
and Graham Savings Bank, announced today that CCB and 
Graham Savings have agreed to pay an additional amount of 
approximately $1,000,000 to the depositors of Graham Savings Bank who 
were on record July 31, 1993, and that all legal actions will be 
terminated. 	

  CCB and Graham Savings have agreed to pay depositors a 
third interest bonus payment in 1995.  Also, the interest bonus 
payment due this year will be made regardless of average daily 
balance since the first bonus interest payment.  Graham Savings Bank 
depositors of record on July 31, 1993 received a 1.25% bonus in 
October, 1993 and now will receive a 1% bonus in October, 1994 and an 
additional 1% bonus in October, 1995 regardless of whether they kept 
the same balance in accounts as of July 31, 1993.

  Cary Allred said, "The additional guaranteed payments, 
regardless of average daily balance, are a tremendous improvement for 
depositors and brings to over $3,000,000 in direct benefits to Graham 
Savings Bank depositors through the efforts of Maurice Koury and 
myself."

  Also, a new Community Benefits Committee will be established
to distribute the remainder of $1,000,000, set aside in last 
year's merger agreement to be donated to community non-profit 
groups over five years.  Koury, Allred and another depositor will 
work with three Graham Savings Bank Directors to distribute the 
funds.

  Maurice Koury stated that he is "gratified to see the Graham
Savings depositors receive this additional benefit from the 
merger.  We now look forward to a progressive CCB-Graham Savings 
partnership in the community."

  "This breakthrough will benefit the depositors, the Graham
community and CCB shareholders.  Now we can really focus on 
the future," said Ernest C. Roessler, CCB President and Chief 
Executive Officer.  Roessler also stated that Koury and Allred will


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not receive any more benefit than any other depositor and that the 
additional $1,000,000 given to depositors will come from funds 
established by Graham Savings Board of Directors.

  All three bonus payments will total 3.25% in additional
interest paid on the funds which each Graham Savings 
customer had on deposit as of July 31, 1993.

  "Throughout this very expensive and time-consuming legal
process, Mr. Koury and I have tried to do our best for Graham 
Savings depositors under the circumstances and hope they will be 
pleased with our results," stated Cary Allred. 




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