Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: FRIDAY, February 21, 1992 TAG: 9202210156
SECTION: BUSINESS PAGE: A-3 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Short
IN BUSINESS
NationsBank to sell 7 million new sharesNationsBank Corp., Charlotte, N.C., operator of banks in the Roanoke Valley, said Thursday it expects to sell 7 million newly issued shares of common stock for $45 per share.
NationsBank said the approximately $307 million in net proceeds from the sale will be used for general corporate purposes, including working capital needs, possible additional contributions to the capital of its subsidiaries, or possible acquisitions of other financial institutions or their assets, including failed institutions.
The stock issue is being underwritten by a syndicate of investment banking companies represented by Merrill Lynch & Co., The First Boston Corp., Morgan Stanley & Co. Inc. and The Robinson-Humphrey Co. Inc. - Staff report
Central Fidelity to merge services
Central Fidelity Bank said Thursday it will consolidate its Roanoke auto dealer financial group with the one in Lynchburg.
None of the seven people in the Roanoke group will be laid off, but a couple of them will move to Lynchburg, a spokeswoman said.
She said the other employees will transfer to the bank's mortgage and trust departments in Roanoke. The move is part of a statewide consolidation of services, she said. - Staff report