WINSTON-SALEM, N.C. BB&T Financial Corp. and Southern National Corp. said that they plan to divest about $200 million in deposits to satisfy anticompetition issues raised by federal regulatory authorities in connection with their pending merger.

The multibank holding companies, which will merge in the first quarter of 1995, will sell 12 branch offices in five markets where their combined deposit share exceeds federal guidelines. Divestiture will be required in the North Carolina counties of Wayne, Lenoir, Lee, Moore, Surry, and Iredell.

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