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FIRST AMERICAN REINSTATES A DIVIDEND

 FIRST AMERICAN REINSTATES A DIVIDEND
 NASHVILLE, Tenn., Aug. 20 /PRNewswire/ -- The Board of Directors of


First American Corporation (NASDAQ-NMS: FATN) today declared a quarterly cash dividend of $.10 per share on its common stock, which is payable on Sept. 30, 1992, to shareholders of record on Sept. 15, 1992.
 The dividend is the first quarterly dividend declared on First American's common stock since the dividend was suspended in the second quarter of 1990. The $.3125 per share dividend was paid on April 2, 1990.
 "Reinstating the dividend at a prudent level has been a priority," said Dennis C. Bottorff, president and CEO. "We will continue to focus on improving policies, procedures and systems to strengthen asset quality and profitability and to provide us with the capacity for future growth and market share opportunities."
 On July 17, 1992, First American announced its second quarter financial results. Second quarter results represented the sixth consecutive quarter of improved earnings and asset quality. Net income for the quarter equaled $9.8 million or $.42 per share. For the first six months, net income equaled $18.3 million or $.78 per share. Asset quality ratios also continued to improve. Nonperforming assets amounted to $116.1 million at June 30, 1992, down 33 percent from $172.7 million a year earlier. The coverage of nonperforming loans by the allowance for loan losses equaled 255 percent at June 30, 1992, compared with 168 percent coverage at June 30, 1991.
 First American's stock is traded in the over-the-counter securities market and is quoted on the NASDAQ National Market List under the symbol FATN.
 In addition to First American National Bank, First American Corporation owns First American Trust Company and First American Community Development Corporation. Some 3,000 persons work for First American in 134 banking offices across the state.
 -0- 8/20/92
 /CONTACT: Financial -- Carroll Kimball, 615-748-2455, or Media -- Janeen Gregory, 615-748-2912, both of First American Corporation/
 (FATN) CO: First American Corporation ST: Tenneessee IN: FIN SU: DIV


DF -- CH004 -- 1902 08/20/92 16:57 EDT
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Publication:PR Newswire
Date:Aug 20, 1992
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