PURCHASE AND ASSUMPTION AGREEMENT Among BB&T CORPORATION (“BB&T”) THE SELLER PARTIES HERETO (Each, a “Seller”) and THE PURCHASER PARTIES HERETO (Each, a “Purchaser”)Purchase and Assumption Agreement • September 29th, 2003 • Virginia Financial Group Inc • State commercial banks • North Carolina
THIS PURCHASE AND ASSUMPTION AGREEMENT (this “Agreement”) is entered into as of June 11, 2003 among BB&T Corporation, a North Carolina corporation having its principal office at Winston-Salem, North Carolina (“BB&T”), First Virginia Bank-Southwest, First Virginia Bank-Colonial and First Virginia Bank-Blue Ridge, each of which is a Virginia chartered bank and a subsidiary of First Virginia Banks, Inc. (references herein to “Seller” shall be deemed to mean each of such banks individually with respect to the assets being sold by it, and not to all Sellers as a group), and Second Bank & Trust and Planters Bank & Trust Company of Virginia, each of which is a Virginia chartered bank and a subsidiary of Virginia Financial Group, Inc. (references herein to “Purchaser” shall be deemed to mean each of such banks individually with respect to the assets being purchased and liabilities being assumed by it, and not to all Purchasers as a group):
