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FIRST AMERICAN RELEASED FROM AGREEMENT WITH OCC

 NASHVILLE, Tenn., April 6 /PRNewswire/ -- First American Corporation (NASDAQ-NMS: FATN) announced today that the Office of the Comptroller of the Currency (OCC) has terminated its formal agreement with the company's principal subsidiary, First American National Bank.
 "We are extremely pleased that the formal agreement with the OCC has been terminated," said Dennis C. Bottorff, president and CEO of First American. "First American's employees and board of directors have done an outstanding job of putting the plans and processes in place to manage First American soundly and profitably. As a result, 1992 was a very successful year for us. Nonperforming assets declined 37 percent, earnings increased 150 percent, we added $41 million to our capital base with a very successful stock offering and we reinstated our quarterly dividend.
 "With the lifting of this OCC agreement, we have everything in place to focus on our goal of being the bank of choice for consumers and small- to mid-sized businesses," he said.
 The formal agreement between the OCC and First American National Bank was signed in September 1990. Under the agreement, the bank was required, among other things, to maintain minimum capital ratios, to review and to strengthen the bank's lending, credit review and credit administration procedures and to not pay dividends if the OCC objected.
 At Dec. 31, 1992, First American Corporation's total assets were $6.7 billion; loans net of unearned discount, $3.7 billion; deposits, $5.5 billion; and shareholders' equity, $468.3 million. The total risk-based capital and Tier I leverage ratios for the corporation were 11.76 percent and 6.87 percent, respectively, at Dec. 31, 1992.
 First American Corporation, the Nashville-based parent company of First American National Bank, First American Trust Company and First American Community Development Corporation, employs approximately 3,100 people in 134 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- 4/6/93
 /CONTACT: (Financial) Carroll Kimball, 615-748-2455 or fax 615-748-2755, or (Media) Vicki Kessler, 615-748-2912 or fax 615-748-2535, both of First American Corporation/
 (FATN)


CO: First American Corporation; First American National Bank;
 Office of the Comptroller of the Currency ST: Tennessee IN: FIN SU:


CM -- CH001 -- 3328 04/06/93 08:38 EDT
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Publication:PR Newswire
Date:Apr 6, 1993
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