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): April 12, 2001
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CENTURA BANKS, INC.
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(Exact name of registrant as specified in charter)
North Carolina 1-10646 56-1688522
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(State of Incorporation) (Commission File Number) (IRS Employer
Identification No.)
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: (252) 454-4400
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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.
Item 5. Other Events
On April 12, 2001, Centura Banks, Inc. ("Centura") announced earnings for the
three months ended March 31, 2001. Net income for the first quarter was $35.5
million or $0.89 per diluted share. This compares with 2000's first quarter net
income of $8.0 million or $0.20 per diluted share, including $39.4 million of
merger-related and other significant charges incurred as a result of the
February 18, 2000 merger with Triangle Bancorp, Inc. Excluding these
merger-related charges, diluted earnings per share for the three months ended
March 31, 2000 was $0.90 per diluted share.
A press release is attached as Exhibit 99.
Safe Harbor
Statements made above, other than those containing historical information, are
forward-looking statements made pursuant to the safe-harbor provisions of the
Private Securities Litigation Act of 1995. These include statements about
Centura, including descriptions of goals, expectations, projections, estimates,
intentions, plans and objectives of its management for future operations,
products or services, and forecasts of its revenues, earnings or other measures
of economic performance. One can identify these forward-looking statements by
the use of words such as "expects," "plans," "believes," "will," "estimates,"
"intends," "projects," "goals," and other words of similar meaning. One can
identify them by the fact that they do not strictly relate to historical or
current facts. Such statements reflect current views, but are based on
assumptions and involve significant risks and uncertainties and are subject to
change based on various factors, many of which are beyond Centura's control.
Those factors include, but are not limited to, the following: (i) customer and
deposit attrition, or revenue loss, following completed mergers may be greater
than expected; (ii) competitive pressure in the banking industry may increase
significantly; (iii) changes in the interest rate environment may reduce
margins; (iv) general economic conditions, either nationally or regionally, may
be less favorable than expected, resulting in, among other things, credit
quality deterioration and the possible impairment of collectibility of loans;
(v) the impact of changes in monetary and fiscal policies, laws, rules and
regulations; (vi) the impact of the Gramm-Leach-Bliley Act of 1999; (vii)
changes in business conditions and inflation; (viii) the impact to revenue and
expenses in the event that announced mergers do not consummate as anticipated;
and (ix) other risks and factors identified in Centura's filings with the
Securities and Exchange Commission and other regulatory bodies.
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.
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: April 12, 2001 By: /s/ Steven Goldstein
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Steven Goldstein
Chief Financial Officer
EXHIBIT INDEX
Sequential
Page
Exhibit Description of Exhibit Number
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99 Press release dated April 12, 2001 5