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South Trust Corp

Article Abstract:

SouthTrust Corp has added First American Bank of Georgia NA to its list of acquired banks since the fall of 1991. The deal with First American Bankshares Inc, which will be consummated in Jun 1992, is SouthTrust's biggest acquisition and will increase the number of its Atlanta banks from 40 to 85. SouthTrust has also acquired the branches of Fulton Federal Savings and Loan Assn in Atlanta, the three Barclays American Corp branches in North Carolina, Carolina Financial Corp and the three branches of First Federal Savings Bank in Florida.

Mergers, acquisitions and divestments, Bank holding companies, SouthTrust Corp., First American Bankshares Inc., First American Bank of Georgia N.A.

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Continental Bank Corp

Article Abstract:

Continental Bank Corp (CBK) has improved its financial picture after absorbing a $175 million special charge in 1991 to cover loss reserve additions and restructuring costs. CBK, which pays $0.60 on its 54 million common shares, had net earnings for the quarter ending Mar 1992 increase by 100% due to lower operating costs and provision for credit loss. The bank's employees own approximately 4% of shares and stock while institutions own around 45%.

Securities, Continental Bank Corp.

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First American Corp. Tenn

Article Abstract:

First American Corp. (FATN) posted another quarter of handsome profits. Its June 1992 quarter net income was up 300% to $9.75 million and the loan loss provision dropped to $8.5 million. FATN attributed the profits as a reflection of vastly improved asset quality. The improvement is manifested in the decline of the company's non-performing assets and a big drop in net chargeoffs.

Finance, First American Corp. (Nashville, Tennessee)

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