Printer Friendly

FIRST UNION REPORTS RECORD EARNINGS; 3RD QUARTER UP 10 PERCENT

 FIRST UNION REPORTS RECORD EARNINGS; 3RD QUARTER UP 10 PERCENT
 CHARLOTTE, N.C., Oct. 8 /PRNewswire/ -- First Union Corporation (NYSE: FTU FTUpr) today reported record earnings of $140 million for the third quarter of 1992, a 107 percent increase from $68 million in the same period a year ago. Earnings in the second quarter of 1992 were $118 million.
 On a per common share basis, third quarter earnings increased to $1.06 from 61 cents a year ago and 90 cents in the second quarter of 1992.
 "These results reflect continuing strength in the net interest margin and also show the commitment of First Union employees to managing credit quality," said Edward E. Crutchfield Jr., First Union Corporation chairman and chief executive officer. "We are very optimistic about our fundamental trends and enthusiastic about the opportunities to enhance these trends resulting from our planned merger with Dominion Bankshares."
 For the first nine months of 1992, net income applicable to common stockholders was $356 million, or $2.77 per common share, compared with $207 million, or $1.89 per common share, for the first nine months of 1991.
 The first nine months of 1992 included a $3 million net gain from the sale of securities available for sale and investment securities. This compares with $85 million in gains from the sale of investment securities and $30 million in gains from the sale of mortgage servicing rights in the first nine months of 1991.
 Net loans at September 30, 1992, were $32.4 billion, compared with $32.1 billion at year-end 1991 and $32.6 billion at September 30, 1991. Deposits were $37.3 billion, compared with $36.6 billion at year-end 1991 and $37.5 billion at September 30, 1991.
 Total stockholders' equity was $3.68 billion at September 30, 1992, compared with $3.11 billion at year-end 1991 and $2.87 billion at September 30, 1991. The equity increase resulted from retained earnings and the sale of common stock.
 Nonperforming assets declined for the fourth straight quarter, to $995 million, compared with $1.204 billion at year-end 1991 and $1.266 billion at September 30, 1991. The loan loss provision was $52 million in the third quarter of 1992, compared with $146 million in the third quarter a year ago. First Union's loan loss allowance was $672 million at September 30, 1992, compared with $632 million at year-end 1991 and $629 million at September 30, 1991.
 First Union Corporation had $48.3 billion in assets at September 30, 1992, which does not include pending acquisitions. The corporation has 898 banking offices in Florida, North Carolina, South Carolina, Georgia and one banking office in Tennessee, and 200 nonbanking offices in 36 states.
 First Union Earnings
 FIRST UNION CORPORATION
 (Unaudited)
 FINANCIAL HIGHLIGHTS
 Three Months Ended
 September 30,
 (In thousands except per share data) 1992
 Net income $ 147,126
 Dividends on preferred stock 6,990
 Net income applicable to
 common stockholders $ 140,136
 Net income per common share $ 1.06
 Average common shares 133,703
 Common stockholders' equity $ 3,396,624
 Total stockholders' equity 3,680,664
 Book value per common share $ 25.34
 Actual common shares 134,024
 Common stock period-end
 price $ 36.250
 Preferred stock period -
 end price $ 54.375
 EARNINGS SUMMARY
 1992
 (In thousands except per share data) 3Q
 Net interest income (a) $ 546,516
 Provision for loan losses 52,034
 Net interest income after
 provision for loan losses (a) 494,482
 Securities available for sale
 transactions 8,898
 Investment security
 transactions (646)
 Noninterest income 205,729
 Noninterest expense 478,941
 Income before income taxes (a) 229,522
 Income taxes 59,455
 Tax-equivalent adjustment 22,941
 Net income 147,126
 Dividends on preferred
 stock 6,990
 Net income applicable to
 common stockholders $ 140,136
 Net income per common share $ 1.06
 (a) Tax-equivalent
 FINANCIAL HIGHLIGHTS
 Three Months Ended
 September 30,
 (In thousands except per share data) 1991
 Net income 75,348
 Dividends on preferred stock 7,693
 Net income applicable to
 common stockholders 67,655
 Net income per common share .61
 Average common shares 111,009
 Common stockholders' equity 2,439,553
 Total stockholders' equity 2,873,593
 Book value per common share 21.78
 Actual common shares 112,019
 Common stock period-end
 price 26.375
 Preferred stock period -
 end price 49.000
 EARNINGS SUMMARY
 1992
 (In thousands except per share data) 2Q
 Net interest income (a) 517,671
 Provision for loan losses 62,044
 Net interest income after
 provision for loan losses (a) 455,627
 Securities available for sale
 transactions -
 Investment security
 transactions (551)
 Noninterest income 200,580
 Noninterest expense 456,729
 Income before income taxes (a) 198,927
 Income taxes 49,753
 Tax-equivalent adjustment 23,738
 Net income 125,436
 Dividends on preferred
 stock 7,444
 Net income applicable to
 common stockholders 117,992
 Net income per common share .90
 (a) Tax-equivalent
 FINANCIAL HIGHLIGHTS
 Percent
 Increase
 (In thousands except per share data) (Decrease)
 Net income 95.3 pct
 Dividends on preferred stock (9.1)
 Net income applicable to
 common stockholders 107.1 pct
 Net income per common share 73.8 pct
 Average common shares 20.4
 Common stockholders' equity 39.2
 Total stockholders' equity 28.1
 Book value per common share 16.3
 Actual common shares 19.6
 Common stock period-end
 price 37.4
 Preferred stock period -
 end price 11.0 pct
 EARNINGS SUMMARY
 1992
 (In thousands except per share data) 1Q
 Net interest income (a) 471,951
 Provision for loan losses 83,021
 Net interest income after
 provision for loan losses (a) 388,930
 Securities available for sale
 transactions -
 Investment security
 transactions (5,177)
 Noninterest income 220,620
 Noninterest expense 435,818
 Income before income taxes (a) 168,555
 Income taxes 37,612
 Tax-equivalent adjustment 23,084
 Net income 107,859
 Dividends on preferred
 stock 9,661
 Net income applicable to
 common stockholders 98,198
 Net income per common share .81
 (a) Tax-equivalent
 FINANCIAL HIGHLIGHTS
 Nine Months Ended
 September 30,
 (In thousands except per share data) 1992
 Net income 380,421
 Dividends on preferred stock $ 24,095
 Net income applicable to
 common stockholders 356,326
 $
 Net income per common share 2.77
 Average common shares $ 128,769
 Common stockholders' equity 3,396,624
 Total stockholders' equity $ 3,680,664
 Book value per common share 25.34
 Actual common shares $ 134,024
 Common stock period-end
 price 36.250
 Preferred stock period - $
 end price 54.375
 $
 EARNINGS SUMMARY
 1991
 (In thousands except per share data) 4Q
 Net interest income (a) 460,014
 Provision for loan losses 125,271
 Net interest income after
 provision for loan losses (a) 334,743
 Securities available for sale
 transactions -
 Investment security
 transactions 27,450
 Noninterest income 238,340
 Noninterest expense 458,551
 Income before income taxes (a) 141,982
 Income taxes 28,496
 Tax-equivalent adjustment 24,561
 Net income 88,925
 Dividends on preferred
 stock 10,677
 Net income applicable to
 common stockholders 78,248
 Net income per common share .66
 (a) Tax-equivalent
 FINANCIAL HIGHLIGHTS
 Nine Months Ended
 September 30,
 (In thousands except per share data) 1991
 Net income 229,812
 Dividends on preferred stock 22,548
 Net income applicable to
 common stockholders 207,264
 Net income per common share 1.89
 Average common shares 109,940
 Common stockholders' equity 2,439,553
 Total stockholders' equity 2,873,593
 Book value per common share 21.78
 Actual common shares 112,019
 Common stock period-end
 price 26.375
 Preferred stock period -
 end price 49.000
 EARNINGS SUMMARY
 1991
 (In thousands except per share data) 3Q
 Net interest income (a) 387,302
 Provision for loan losses 145,681
 Net interest income after
 provision for loan losses (a) 241,621
 Securities available for sale
 transactions -
 Investment security
 transactions 50,313
 Noninterest income 184,319
 Noninterest expense 352,597
 Income before income taxes (a) 123,656
 Income taxes 20,547
 Tax-equivalent adjustment 27,761
 Net income 75,348
 Dividends on preferred
 stock 7,693
 Net income applicable to
 common stockholders 67,655
 Net income per common share .61
 (a) Tax-equivalent
 FINANCIAL HIGHLIGHTS
 Percent
 (In thousands except per share data) Increase
 Net income 65.5 pct
 Dividends on preferred stock 6.9
 Net income applicable to
 common stockholders 71.9 pct
 Net income per common share 46.6 pct
 Average common shares 17.1
 Common stockholders' equity 39.2
 Total stockholders' equity 28.1
 Book value per common share 16.3
 Actual common shares 19.6
 Common stock period-end
 price 37.4
 Preferred stock period -
 end price 11.0 pct
 EARNINGS SUMMARY
 3Q '92
 vs
 (In thousands except per share data) 3Q '91
 Net interest income (a) 41.1 pct
 Provision for loan losses (64.3)
 Net interest income after
 provision for loan losses (a) 104.7
 Securities available for sale
 transactions 100.0
 Investment security
 transactions (101.3)
 Noninterest income 11.6
 Noninterest expense 35.8
 Income before income taxes (a) 85.6
 Income taxes 189.4
 Tax-equivalent adjustment (17.4)
 Net income 95.3
 Dividends on preferred
 stock (9.1)
 Net income applicable to
 common stockholders 107.1 pct
 Net income per common share 73.8 pct
 (a) Tax-equivalent.
 OTHER FINANCIAL DATA
 1992
 (Dollars in thousands) 3Q
 Return on average assets (a) 1.22
 Return on average common
 equity (a) 16.73
 Net interest margin 5.18
 Net charge-offs as pct of
 average loans, net (a) .61
 Allowance as pct of loans,
 net 2.07
 Allowance as pct of nonaccrual
 and restructured loans 98
 Allowance as pct of
 nonperforming assets 68
 Net charge-offs $ 49,442
 Nonperforming assets (b)
 Commercial nonaccrual $ 316,233
 Real estate nonaccrual 353,096
 Total nonaccrual 669,329
 Restructured loans 14,125
 Foreclosed properties 311,604
 Total nonperforming assets $ 995,058
 As pct of loans, net and
 foreclosed properties 3.04
 Segregated loss-sharing
 nonperforming assets
 Nonaccrual loans $ 523,805
 Foreclosed properties 110,758
 Total 634,563
 Less FDIC loss-sharing (c) (539,378)
 Total $ 95,185
 (a) Annualized.
 (b) Excludes nonperforming assets related to the Southeast Banks
 acquisition.
 (c) Represents 85 percent of total segregated assets.
 (d) Allowance for segregated assets losses amounted to
 $48,931,000 at September 30, 1992.
 This amount is not included in the allowance for loan losses.
 OTHER FINANCIAL DATA
 1992
 (Dollars in thousands) 2Q
 Return on average assets (a) pct 1.05
 Return on average common
 equity (a) 15.18
 Net interest margin 4.88
 Net charge-offs as pct of
 average loans, net (a) .42
 Allowance as pct of loans,
 net 2.05
 Allowance as pct of nonaccrual
 and restructured loans 88
 Allowance as pct of
 nonperforming assets pct 61
 Net charge-offs 34,233
 Nonperforming assets (b)
 Commercial nonaccrual 351,197
 Real estate nonaccrual 399,097
 Total nonaccrual 750,294
 Restructured loans 7,167
 Foreclosed properties 340,076
 Total nonperforming assets 1,097,537
 As pct of loans, net and
 foreclosed properties pct 3.36
 Segregated loss-sharing
 nonperforming assets
 Nonaccrual loans 599,263
 Foreclosed properties 72,678
 Total 671,941
 Less FDIC loss-sharing (c) (571,150)
 Total (d) 100,791
 (a) Annualized.
 (b) Excludes nonperforming assets related to the Southeast Banks
 acquisition.
 (c) Represents 85 percent of total segregated assets.
 (d) Allowance for segregated assets losses amounted to
 $48,931,000 at September 30, 1992.
 This amount is not included in the allowance for loan losses.
 OTHER FINANCIAL DATA
 1992 1991
 (Dollars in thousands) 1Q 4Q
 Return on average assets (a) .94 .75
 Return on average common
 equity (a) 14.26 11.80
 Net interest margin 4.66 4.46
 Net charge-offs as pct of
 average loans, net (a) .87 1.34
 Allowance as pct of loans,
 net 2.01 1.97
 Allowance as pct of nonaccrual
 and restructured loans 80 75
 Allowance as pct of
 nonperforming assets 55 53
 Net charge-offs 68,830 107,860
 Nonperforming assets (b)
 Commercial nonaccrual 389,650 394,590
 Real estate nonaccrual 410,850 387,445
 Total nonaccrual 800,500 782,035
 Restructured loans 8,009 57,386
 Foreclosed properties 371,732 364,931
 Total nonperforming assets 1,180,241 1,204,352
 As pct of loans, net and
 foreclosed properties 3.62 3.71
 Segregated loss-sharing
 nonperforming assets
 Nonaccrual loans 654,513 665,975
 Foreclosed properties 30,785 28,857
 Total 685,298 694,832
 Less FDIC loss-sharing (c) (582,503) (590,607)
 Total 102,795 104,225
 (a) Annualized.
 (b) Excludes nonperforming assets related to the Southeast Banks
 acquisition.
 (c) Represents 85 percent of total segregated assets.
 (d) Allowance for segregated assets losses amounted to
 $48,931,000 at September 30, 1992.
 This amount is not included in the allowance for loan losses.
 OTHER FINANCIAL DATA
 1991 Nine Months
 (Dollars in thousands) 3Q 1992
 Return on average assets (a) .74 1.07
 Return on average common
 equity (a) 11.19 15.47
 Net interest margin 4.29 4.91
 Net charge-offs as pct of
 average loans, net (a) 1.84 .63
 Allowance as pct of loans,
 net 1.93 2.07
 Allowance as pct of nonaccrual
 and restructured loans 71 98
 Allowance as pct of
 nonperforming assets 50 68
 Net charge-offs 122,761 152,505
 Nonperforming assets (b)
 Commercial nonaccrual 398,156 316,233
 Real estate nonaccrual 453,032 353,096
 Total nonaccrual 851,188 669,329
 Restructured loans 38,003 14,125
 Foreclosed properties 376,874 311,604
 Total nonperforming assets 1,266,065 995,058
 As pct of loans, net and
 foreclosed properties 3.84 3.04
 Segregated loss-sharing
 nonperforming assets
 Nonaccrual loans 629,889 523,805
 Foreclosed properties 3,559 110,758
 Total 633,448 634,563
 Less FDIC loss-sharing (c) (538,431) (539,378)
 Total 95,017 95,185(d)
 (a) Annualized.
 (b) Excludes nonperforming assets related to the Southeast Banks
 acquisition.
 (c) Represents 85 percent of total segregated assets.
 (d) Allowance for segregated assets losses amounted to
 $48,931,000 at September 30, 1992.
 This amount is not included in the allowance for loan losses.
 OTHER FINANCIAL DATA
 Nine Months
 (Dollars in thousands) 1991
 Return on average assets (a) .77
 Return on average common
 equity (a) 11.87
 Net interest margin 4.19
 Net charge-offs as pct of
 average loans, net (a) 1.26
 Allowance as pct of loans,
 net 1.93
 Allowance as pct of nonaccrual
 and restructured loans 71
 Allowance as pct of
 nonperforming assets 50
 Net charge-offs 248,655
 Nonperforming assets (b)
 Commercial nonaccrual 398,156
 Real estate nonaccrual 453,032
 Total nonaccrual 851,188
 Restructured loans 38,003
 Foreclosed properties 376,874
 Total nonperforming assets 1,266,065
 As pct of loans, net and
 foreclosed properties 3.84
 Segregated loss-sharing
 nonperforming assets
 Nonaccrual loans 629,889
 Foreclosed properties 3,559
 Total 633,448
 Less FDIC loss-sharing (c) (538,431)
 Total 95,017
 (a) Annualized.
 (b) Excludes nonperforming assets related to the Southeast Banks
 acquisition.
 (c) Represents 85 percent of total segregated assets.
 (d) Allowance for segregated assets losses amounted to
 $48,931,000 atSeptember 30, 1992.
 This amount is not included in the allowance for loan losses.
 AVERAGE BALANCE SHEET SUMMARY
 1992
 (In thousands) 3Q
 Loans, net $ 32,243,257
 Earning assets 42,158,382
 Total assets 48,053,892
 Noninterest-bearing
 deposits 6,803,663
 Consumer time deposits 27,526,254
 Other time deposits 2,434,452
 Common stockholders' equity 3,333,247
 Total stockholders' equity $ 3,617,287
 INTANGIBLE ASSETS
 (In thousands)
 Intangible assets
 Goodwill $ 629,664
 Deposit base premium 169,034
 Other 16,038
 Total $ 814,736
 Mortgage servicing rights $ 136,580
 Credit card premium $ 66,041
 AVERAGE BALANCE SHEET SUMMARY
 1992
 (In thousands) 2Q
 Loans, net 32,522,407
 Earning assets 42,448,149
 Total assets 48,180,783
 Noninterest-bearing
 deposits 6,591,620
 Consumer time deposits 26,981,335
 Other time deposits 3,956,587
 Common stockholders' equity 3,126,552
 Total stockholders' equity 3,420,482
 INTANGIBLE ASSETS
 (In thousands)
 Intangible assets
 Goodwill 638,758
 Deposit base premium 157,570
 Other 10,566
 Total 806,894
 Mortgage servicing rights 141,008
 Credit card premium 52,090
 AVERAGE BALANCE SHEET SUMMARY
 1992 1991
 (In thousands) 1Q 4Q
 Loans, net 31,814,185 32,265,153
 Earning assets 40,492,326 41,329,158
 Total assets 46,059,978 46,792,371
 Noninterest-bearing
 deposits 6,308,429 6,126,922
 Consumer time deposits 26,728,915 27,356,901
 Other time deposits 2,867,338 3,113,255
 Common stockholders' equity 2,769,055 2,630,932
 Total stockholders' equity 3,153,096 3,042,690
 INTANGIBLE ASSETS
 (In thousands)
 Intangible assets
 Goodwill 644,508 653,085
 Deposit base premium 154,850 160,712
 Other 11,131 11,185
 Total 810,489 824,982
 Mortgage servicing rights 146,203 146,295
 Credit card premium 54,701 62,670
 AVERAGE BALANCE SHEET SUMMARY
 3Q '92
 1991 vs
 (In thousands) 3Q 3Q '91
 Loans, net 26,651,382 21.0 pct
 Earning assets 36,218,151 16.4
 Total assets 40,565,612 18.5
 Noninterest-bearing
 deposits 4,695,296 44.9
 Consumer time deposits 21,181,850 30.0
 Other time deposits 3,389,092 (28.2)
 Common stockholders' equity 2,398,508 39.0
 Total stockholders' equity 2,690,700 34.4 pct
 INTANGIBLE ASSETS
 (In thousands)
 Intangible assets
 Goodwill 660,505
 Deposit base premium 167,621
 Other 40,214
 Total 868,340
 Mortgage servicing rights 144,122
 Credit card premium 61,998
 CONDENSED CONSOLIDATED STATEMENTS OF INCOME
 Three Months Ended
 September 30,
 (In thousands) 1992
 Interest income:
 Interest and fees on loans $ 719,130
 Interest and dividends on securities
 available for sale 66,655
 Interest and dividends on
 investment securities 76,188
 Other interest income 15,954
 Total interest income 877,927
 Interest expense:
 Interest on deposits 275,342
 Interest on borrowings 79,010
 Total interest expense 354,352
 Net interest income 523,575
 Provision for loan losses 52,034
 Net interest income after
 provision for loan losses 471,541
 Noninterest income:
 Service charges on deposit
 accounts 82,092
 Mortgage banking income 24,036
 Capital management income 40,616
 Securities available
 for sale transactions 8,898
 Investment security
 transactions (646)
 Sundry income 58,985
 Total noninterest income 213,981
 Noninterest expense:
 Personnel expense 209,141
 Occupancy and equipment 82,739
 Sundry expense 187,061
 Total noninterest
 expense 478,941
 Income before income taxes 206,581
 Income taxes 59,455
 Net income 147,126
 Dividends on preferred stock 6,990
 Net income applicable to
 common stockholders $ 140,136
 CONDENSED CONSOLIDATED STATEMENTS OF INCOME
 Three Months Ended
 September 30,
 (In thousands) 1991
 Interest income:
 Interest and fees on loans 648,348
 Interest and dividends on securities
 available for sale -
 Interest and dividends on
 investment securities 173,149
 Other interest income 18,819
 Total interest income 840,316
 Interest expense:
 Interest on deposits 358,419
 Interest on borrowings 122,356
 Total interest expense 480,775
 Net interest income 359,541
 Provision for loan losses 145,681
 Net interest income after
 provision for loan losses 213,860
 Noninterest income:
 Service charges on deposit
 accounts 58,128
 Mortgage banking income 24,208
 Capital management income 28,898
 Securities available
 for sale transactions -
 Investment security
 transactions 50,313
 Sundry income 73,085
 Total noninterest income 234,632
 Noninterest expense:
 Personnel expense 160,254
 Occupancy and equipment 67,870
 Sundry expense 124,473
 Total noninterest
 expense 352,597
 Income before income taxes 95,895
 Income taxes 20,547
 Net income 75,348
 Dividends on preferred stock 7,693
 Net income applicable to
 common stockholders 67,655
 CONDENSED CONSOLIDATED STATEMENTS OF INCOME
 Nine Months Ended
 September 30,
 (In thousands) 1992 1991
 Interest income:
 Interest and fees on loans 2,158,199 1,941,086
 Interest and dividends on securities
 available for sale 66,655 -
 Interest and dividends on
 investment securities 349,706 519,446
 Other interest income 60,174 59,433
 Total interest income 2,634,734 2,519,965
 Interest expense:
 Interest on deposits 919,495 1,058,921
 Interest on borrowings 248,864 420,996
 Total interest expense 1,168,359 1,479,917
 Net interest income 1,466,375 1,040,048
 Provision for loan losses 197,099 356,312
 Net interest income after
 provision for loan losses 1,269,276 683,736
 Noninterest income:
 Service charges on deposit
 accounts 246,148 166,357
 Mortgage banking income 80,810 66,606
 Capital management income 119,054 81,412
 Securities available
 for sale transactions 8,898 -
 Investment security
 transactions (6,374) 85,312
 Sundry income 180,917 193,752
 Total noninterest income 629,453 593,439
 Noninterest expense:
 Personnel expense 622,615 474,291
 Occupancy and equipment 245,894 188,874
 Sundry expense 502,979 335,178
 Total noninterest
 expense 1,371,488 998,343
 Income before income taxes 527,241 278,832
 Income taxes 146,820 49,020
 Net income 380,421 229,812
 Dividends on preferred stock 24,095 22,548
 Net income applicable to
 common stockholders 356,326 207,264
 CONDENSED CONSOLIDATED BALANCE SHEETS
 September 30,
 (In thousands) 1992 1991
 Assets
 Cash and due from banks $ 2,471,529 2,806,251
 Interest-bearing balances in
 other banks 507,840 408,442
 Federal funds sold and securities
 purchased under resale
 agreements 1,073,193 656,754
 Trading account assets 367,476 765,379
 Securities available for sale 3,322,401 -
 Investment securities 4,069,803 8,257,784
 Loans, net of unearned income
 ($285,564 in 1992 and
 $353,400 in 1991) 32,449,810 32,611,051
 Less: Allowance for loan
 losses (672,309) (628,861)
 Loans, net 31,777,501 31,982,190
 Mortgage servicing rights 136,580 144,122
 Credit card premium 66,041 61,998
 Other intangible assets 814,736 868,340
 Segregated assets (net of
 allowance of $48,931 in
 1992 and $48,574 in 1991) 585,632 584,874
 Other assets 3,070,186 2,487,825
 Total assets $ 48,262,918 49,023,959
 Liabilities and Stockholders' Equity
 Deposits 37,286,274 37,488,731
 Short-term borrowings 4,131,981 5,696,789
 Other liabilities 808,089 979,298
 Long-term debt 2,355,910 1,985,548
 Total liabilities 44,582,254 46,150,366
 Stockholders' equity 3,680,664 2,873,593
 Total liabilities and
 stockholders' equity $ 48,262,918 49,023,959
 -0- 10/8/92
 /CONTACT: (Media) Sandra Deem, 704-374-2710 or (home) 704-567-1176, or (Investor) Maggie Norris or Sean Fox, 704-374-4353, all of First Union Corporation/
 (FTU) CO: First Union Corporation ST: North Carolina IN: FIN SU: ERN


CM -- CH011 -- 7974 10/08/92 15:10 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 8, 1992
Words:3705
Previous Article:U.S. EPA CITES EIGHT OIL REFINERIES FOR CLEAN AIR ACT VIOLATIONS
Next Article:FIRST COLONIAL ANNOUNCES 13 PERCENT INCREASE IN NET INCOME
Topics:


Related Articles
FIRST UNION ANNOUNCES MERGER AGREEMENT AND ISSUES SECOND QUARTER EARNINGS ESTIMATE
FIRST UNION ANNOUNCES MERGER AGREEMENT WITH DOMINION BANKSHARES AND ISSUES 1992 EARNINGS ESTIMATE
FIRST FIDELITY DECLARES REGULAR COMMON DIVIDEND OF $.37 PER SHARE
BANK OF NEW YORK COMPANY, INC. REPORTS $1.47 THIRD QUARTER E.P.S., A 46 PCT INCREASE OVER LAST YEAR; $151 MLN NET INCOME A QUARTERLY RECORD
MID-CITCO INCORPORATED REPORTS RECORD EARNINGS FOR THE SECOND QUARTER
FIRST FIDELITY DECLARES REGULAR COMMON DIVIDEND OF $.42 PER SHARE
CENTRAL VIRGINIA BANKSHARES REPORTS RECORD EARNINGS
First Union's Earnings Increase To A Record $1.67 Per Share, Up 11%
First Union Reports Record Earnings, Up 13% To 87 Cents Per Share

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters