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FIRST AMERICAN CORPORATION COMPLETES BOWLING GREEN MERGER

 NASHVILLE, Tenn., Oct. 1 /PRNewswire/ -- First American Corporation (NASDAQ-NMS: FATN) reported today that its previously announced merger with First Federal Savings and Loan of Bowling Green, Ky., has been completed.
 Under the terms of the agreement, First American purchased First Federal from Area Bancshares of Owensboro, Ky., for $27.5 million.
 In conjunction with the merger, First Federal was converted to a national bank and was renamed First American National Bank of Kentucky.
 First Federal, a $239 million savings and loan institution (year-end 1992), has three branches in Warren and Simpson counties in south central Kentucky.
 At June 30, 1993, First American's total assets were $6.7 billion; loans net of unearned discount, $3.8 billion; deposits, $5.4 billion; and shareholders' equity, $508.9 million. The total risk-based capital and Tier I leverage ratios for First American were 13.49 percent and 7.40 percent, respectively, at June 30, 1993.
 In addition to First American National Bank of Kentucky, First American Corporation owns First American National Bank and First American Trust Company. First American has about 3,100 employees in 136 banking offices.
 First American's stock is traded in the over-the-counter securities market and is quoted on the NASDAQ National Market System under the symbol FATN.
 -0- 10/1/93
 /CONTACT: (Financial) Carroll Kimball, 615-748-2455 or Fax 615-748-2755, or (Media) Vicki Kessler or Janeen Gregory, 615-748-2912, or Fax 615-748-2535, all of First American Corporation/
 (FATN)


CO: First American Corporation; First Federal Savings and Loan of
 Bowling Green; Area Bancshares ST: Kentucky IN: FIN SU: TNM


MM -- CH002 -- 7641 10/01/93 08:32 EDT
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Publication:PR Newswire
Date:Oct 1, 1993
Words:265
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