CCB Financial Corp. and Salem Trust Bank of Winston- Salem have agreed to postpone Salem's shareholder vote on a proposed buyout.

In a joint statement, CCB Financial and Salem Trust said they expect the shareholder vote to be rescheduled in the near future.

In May, when the acquisition was announced, CCB Financial was going to purchase Salem Trust for $41.2 million in stock.

Both companies said the postponement was due to the recent price rise of CCB's common stock. CCB's stock was trading at $66.63 at noon Tuesday.

Both companies are expected to renegotiate the terms of their acquisition agreement. CCB Financial Corp. has assets totaling $5 billion.

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