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REGULATORY AGENCY APPROVES ACQUISITION OF FIRST FEDERAL SAVINGS & LOAN OF FORT MYERS BY SOCIETY CORPORATION

 CLEVELAND, Jan. 4 /PRNewswire/ -- Society Corporation (NYSE: SCY) received approval on Dec. 23, 1992, from the Office of Thrift Supervision for the acquisition of First Federal Savings & Loan Association of Fort Myers, Fla. Society expects to complete the merger on Jan. 22, 1993. Upon completion of the merger, First Federal will operate with a federal stock savings bank charter under the name Society First Federal Savings Bank.
 First Federal serves central and southwest Florida through its 24 offices. At Sept. 30, 1992, First Federal had total assets of $1.1 billion.
 As of Sept. 30, 1992, Society Corporation had $24.4 billion in assets, $1.8 billion in equity capital, over $3.3 billion of market capitalization and more than 465 banking and trust offices in Ohio, Michigan, Indiana, Texas, Florida, New York, Colorado and Missouri. The trust business of Society ranks in the top 15 nationally in terms of revenues. Through its affiliates, Society engages in commercial banking, consumer banking, mortgage banking and leasing, and investment management and trust services.
 -0- 1/4/93
 /CONTACT: John Fuller (media), 216-689-8140, or Jay Gould (analysts), 216-689-4721, both of Society Corporation/
 (SCY)


CO: Society Corporation; 1st Federal Savings & Loan Assn. of Fort Myers ST: Ohio, Florida IN: FIN SU: TNM

BM -- CL008 -- 1260 01/04/93 11:02 EST
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Publication:PR Newswire
Date:Jan 4, 1993
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