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FIRST FIDELITY PLACES $221 MILLION IN EQUITY WITH BANCO SANTANDER

 FIRST FIDELITY PLACES $221 MILLION IN EQUITY WITH BANCO SANTANDER
 LAWRENCEVILLE, N.J., Dec. 27 /PRNewswire/ -- First Fidelity Bancorporation (NYSE: FFB) today completed the private placement of $221 million in equity with Banco Santander (NYSE: STD) of Spain.
 The previously announced transaction involved the sale of 9,505,000 shares of new common stock and the issuance of four-year warrants for an additional 9,505,000 shares.
 With this $221 million capital infusion, First Fidelity's Tier I leverage ratio rises to 5.85 percent; its risk-adjusted Tier I capital ratio to 8.38 percent, and its total risk-adjusted capital ratio to 12.19 percent, based on the Sept. 30, 1991, statement of condition.
 /delval/
 -0- 12/27/91
 /CONTACT: Paul J. Levine, 201-565-2949, Susan J. Campbell


(analysts), 609-895-6896, or Laura A. Schaible (analysts), 609-895-6895, all of First Fidelity Bancorporation/
 (FFB STD) CO: First Fidelity Bancorporation; Banco Santander ST: New Jersey IN: FIN SU:


MP -- PH002 -- 5476 12/27/91 12:22 EST
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Publication:PR Newswire
Date:Dec 27, 1991
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