DURHAM, N.C. - Security Financial Holding Co., the parent of Security Federal Savings Bank of Durham, said its board has increased its quarterly cash dividend to 11 cents a share.

The dividend, payable Aug. 7 to shareholders of record July 27, has risen for seven consecutive quarters.

The $341 million-asset bank has agreed to merge into BB&T Financial Corp., Wilson, N.C., subject to regulator and shareholder approval, in a deal worth $42.7 million or 1.33 times Security's book value.

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