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SOCIETY NATIONAL BANK COMPLETES MERGER WITH AMERITRUST COMPANY N.A.

SOCIETY NATIONAL BANK COMPLETES MERGER WITH AMERITRUST COMPANY N.A.
 CLEVELAND, July 13 /PRNewswire/ -- Society National Bank and Ameritrust Company National Association have completed their merger, forming the largest bank in Ohio, with $17.5 billion in assets and 238 offices in northeastern, central and southern Ohio.
 Ameritrust Company N.A. became a subsidiary of Society Corporation (NASDAQ: SOCI) on March 16 when its parent company, Ameritrust Corporation, merged with Society. Society Corporation and Ameritrust Corporation announced its agreement to merge on September 13, 1991.
 With more than $12.9 billion in total deposits, Society National Bank operates its retail organization through 14 district banks, placing decision-making authority in its local markets. The newly- combined bank will continue to be a full-service provicer of retail, commercial and trust products and services.
 Robert W. Gillespie, chairman and chief executive officer of Society National Bank, said, "The combination of Society and Ameritrust provides us with the leading market position in Ohio. We believe our new size will make it possible to provide our customers -- both individuals and businesses -- the highest quality financial products and services in the markets we serve. The new Society National Bank is a forerunner of the kind of financial institution required to support America's increasingly complex and global economy."
 The merger between the two banks marks the completion of the systems conversion, in which former Ameritrust branches were brought on-line with Society's systems over the July 11 weekend. The systems conversion is among the largest and fastest ever completed in the banking industry.
 Ameritrust signs were changed to Sociey signs at remaining branch offices this weekend as those branches became part of the Society branch network. In all, Society consolidated 58 Society and Ameritrust branches throughout Ohio. In addition, 32 Ameritrust offices in Ashtabula, Cuyahoga and Lake counties were divested as part of the merger of Sociey Corporation and Ameritrust Corporation.
 Through its new branch network, Society offices are conveniently located throughout its markets. In addition, Society customers are part of a larger ATM network, having access to more than 1,800 Green Machine ATMs in Ohio, Indiana and Michigan.
 Society is celebrating the merger of its two Cleveland-based lead banks with a marketing campaign designed to welcome customers to the new Society National Bank. The "Celebrate!" promotion, emphasizing various services, including VISA, MasterCard and consumer loans; promotes the Prime Advantage package program and the Purchase Planner Equity Line of Credit; and give away vacation cruises. The promotion runs from July 15 to through mid-August.
 Customers of Ameritrust Company N.A. received Product Guides in June with information about changes to products and services. Customers with questions about the merger or any Society product or service should contact their branch office or call Society's customer assistance telephone line 1-800-SOCIETY.
 The merger of Society Bank, Indiana and three Ameritrust affiliates in Indiana is scheduled for the fall. The new entity, Society National Bank, Indiana, will have 97 branch offices and nearly $3.4 billion in assets.
 Society National Bank is the lead bank of Society Corporation, one of the largest bank holding companies in the Midwest. Society Corporation has $24 billion in assets, $1.7 billion in equity capital, over $3.4 billion of market capitalization and more than 450 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 and managed assets. Through its affiliates, Society engages in commercial banking, consumer banking, mortgage banking and leasing, and investment management and trust services.
 -0- 7/13/92
 /CONTACT: John Fuller, 216-689-8140, or Mindy Samay, 216-689-7195 (media); or Jay Gould, 216-689-4721 (analysts), both of Society Corporation/
 (SOCI) CO: Society Corporation ST: Ohio IN: FIN SU: TNM


DA -- CL005 -- 8564 07/13/92 10:45 EDT
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Publication:PR Newswire
Date:Jul 13, 1992
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