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BANK SOUTH DECLARES DIVIDEND

 ATLANTA, May 21 /PRNewswire/ -- The board of directors of Bank South Corporation (NASDAQ: BKSO) has declared a dividend on the company's common stock of four cents per share, payable July 1 to shareholders of record at the close of business on June 15.
 "We have reported five consecutive profitable quarters, our capital is at an all-time high, and loan quality continues to improve," said Patrick L. Flinn, chairman and chief executive officer. "We're providing our customers with innovative new products and services; we're open seven days a week until 8 p.m., and we're expanding our system to be even more convenient and successful. We're bringing in new business every day as the marketplace responds to these innovations -- and our message that we're the hometown bank that is focused totally on the consumer."
 In another recent development, the Federal Reserve Board has approved Bank South's application to form a separate securities subsidiary to engage in the underwriting and dealing of municipal revenue bonds and other securities-related activities.
 Among products recently introduced by Bank South are Select Equityline, which provides three different ways to borrow on a home equity-based line of credit, and "Savosaurus," a popular new children's savings account. A new Tele-Services system has begun allowing Bank South customers to open accounts and apply for loans over the telephone. On May 20, Bank South opened its first two-story InStore banking facility in a new Kroger store in Alpharetta (metro Atlanta). The new InStore office is the largest in the Bank South system and, like all 47 InStores, provides a full range of Bank South consumer and business banking services.
 Bank South's financial performance has continued to improve. During 1992, the bank reduced non-performing assets by 50 percent and earned net income of $28.3 million, or 74 cents per share. During the first quarter of 1993, the bank reported net income of $13.2 million, or 31 cents per share. Shareholder's equity as a percentage of total assets increased to 8.16 percent at the end of the first quarter, compared to 5.33 percent at the end of the first quarter of 1992.
 Bank South Corporation is a $4.3 billion, multi-bank holding company with 134 offices throughout Georgia and northwest Florida.
 -0- 5/21/93
 /CONTACT: Media: Bo Spalding, 404-529-4238, or Investors: Brent Lee, 404-529-4529, both of Bank South Corporation/
 (BKSO)


CO: Bank South Corporation ST: Georgia IN: FIN SU: DIV

BR-BN -- AT009 -- 1297 05/21/93 15:56 EDT
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Publication:PR Newswire
Date:May 21, 1993
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