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FORTUNE NAMES HEAD OF RETAIL BANKING DIVISION

 FORTUNE NAMES HEAD OF RETAIL BANKING DIVISION
 CLEARWATER, Fla., Feb. 20 /PRNewswire/ -- Fortune Bank President


Roy J. McCraw Jr. today announced that Roy M. Whitehead has joined Fortune Bank as executive vice president.
 In this capacity, Whitehead heads Fortune's Retail Banking Division, overseeing the bank's network of 46 bank branches and consumer lending. Whitehead reports to President McCraw.
 "Having worked closely with Roy Whitehead in the past, I know first hand his strong management skills and banking capabilities," McCraw noted. "His wealth of experience and excellent reputation will be valuable assets as Fortune moves forward."
 Whitehead, who has 17 years banking experience, most recently served as area president of First Union National Bank's Tampa office where he was responsible for consumer banking, private banking, small business banking and corporate banking. Prior to joining First Union in 1988, Whitehead was executive vice president and chief credit officer for 10 years at Texas American Bank, Dallas. He began his banking career as an examiner with the Federal Reserve Bank in Dallas. A graduate of the University of South Carolina with a bachelors of business administration degree in finance, Whitehead is also a graduate of the Southwestern Graduate School of Banking at Southern Methodist University.
 "Roy Whitehead's strong banking credentials and his knowledge of our market areas match our needs perfectly," said chairman and chief executive officer John R. Torell III. "He is an excellent addition to Fortune's management team."
 Whitehead succeeds Rausey W. Mason, vice chairman of the bank. Mason will assist with the management transition and resign his day-to-day administrative responsibilities later this year.
 "Rausey has announced his intent to take early retirement in the spring of this year," Torell said. "He has served Fortune with distinction and all of us here wish him well in his future endeavors."
 Fortune Bank, which has $2.7 billion in assets, is the primary subsidiary of Fortune Bancorp (NASDAQ: FORF).
 -0- 2/20/92
 /CONTACT: Nancy Kaylor of Fortune Bancorp, 813-538-1114/
 (FORF) CO: Fortune Bancorp ST: Florida IN: FIN SU: PER


AW-SS -- FL008 -- 1090 02/20/92 16:11 EST
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Publication:PR Newswire
Date:Feb 20, 1992
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