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BANK SOUTH ANNOUNCES NEW IN-STORE OFFICE IN LAWRENCEVILLE, SALE OF OFFICES IN FOLKSTON AND ST. MARYS

 BANK SOUTH ANNOUNCES NEW IN-STORE OFFICE IN LAWRENCEVILLE,
 SALE OF OFFICES IN FOLKSTON AND ST. MARYS
 ATLANTA, Sept. 3 /PRNewswire/ -- Bank South (NASDAQ: BKSO) announced today the grand opening of its 47th In-store office, and the proposed sale of two offices in southeast Georgia.
 The In-store office, located inside the new Five Forks Kroger store at 3050 Five Forks Trickum Road in Lawrenceville, is the first In-store office in the Bank South system to offer safe deposit boxes. Like the bank's other metro Atlanta In-store offices, Five Forks will provide full-service banking until 8 p.m., seven days a week.
 Bank South is moving all accounts and services from its traditional office, located across the street at 875 Oak Road, to the new In-store location in the Five Forks Kroger.
 In southeast Georgia, Bank South will sell its offices in Folkston, Charlton County, and St. Marys, Camden County, to Southeastern Bank in Darien, Ga. The transaction is subject to the approval of regulatory authorities, and is expected to be completed by year-end. Terms were not disclosed.
 In Folkston, Bank South has one office and $24 million in deposits. In St. Marys, Bank South has one office and $9.7 million in deposits.
 The announcements are consistent with Bank South's strategies of:
 -- emphasizing business markets that have strong household growth and where the company will be a leader;
 -- providing the best and most convenient financial services;
 -- improving corporate performance through re-allocating resources.
 In July, Bank South announced the sale of its offices in Columbus, Ga., to SouthTrust Corporation of Alabama, subject to regulatory approval.
 "We are focusing on communities where we have a meaningful consumer household market share and where we see the highest potential for growth," said Lee M. Sessions Jr., Bank South's head of Retail and Trust banking. "Our goal is to have a delivery system that is as efficient as possible, that is positioned for growth, and that is extremely convenient for our customers through a mix of traditional and full- service In-store branches and electronic banking."
 Sessions continued: "In Lawrenceville, we're pushing the concept of In-store banking one step further by offering a larger, more comfortable office that includes safe deposit boxes. The message we're sending to our consumers is clear: we want all of your banking business and we want to make it as convenient and comfortable for you as possible. If you're not our customer yet, why don't you trade your bank in for Bank South? We're ready to do business any time of any day that you are!"
 Southeastern Bank, a subsidiary of Southeastern Banking Corporation, has been in existence for 103 years and has banking offices in 11 cities in southeast Georgia. Southeastern Bank has $176 million in deposits and $200 million in assets.
 Bank South Corporation is a $4.6 billion, two-bank holding company with 138 offices throughout Georgia and northwest Florida. Its stock is traded on the NASDAQ Exchange under the symbol BKSO.
 -0- 9/3/92
 /CONTACT: Bo Spalding of Bank South, 404-529-4238/
 (BKSO) CO: Bank South Corporation; Southeastern Bank; Southeastern Banking
 Corporation ST: Georgia IN: FIN SU: TNM


BN-BR -- AT008 -- 6469 09/03/92 13:40 EDT
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Publication:PR Newswire
Date:Sep 3, 1992
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