Roundup: Southern National's Finance Chief Quits

WINSTON-SALEM, N.C. - John R. Spruill has become the second-highest- ranking executive of Southern National Corp. to leave his position in advance of the bank's "merger of equals" with BB&T Financial Corp.

Mr. Spruill, Southern National's chief financial officer, has resigned to "pursue other interests" and will be replaced by Scott Reed, BB&T's chief financial officer, when the merger closes on Feb. 28, the company said Friday.

Southern National chairman and CEO L. Glenn Orr has already agreed to relinquish his post to BB&T head John A. Allison 4th, although he will remain on the "new" Southern National's board.

A Southern National spokesman said one other top executive plans to leave on Feb. 28: executive vice president and chief operating officer Gary E. Carlton, who is also president of the company's lead North Carolina bank.

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