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SOUTHERN NATIONAL CHAIRMAN ADDRESSES SECURITY ANALYSTS

 LUMBERTON, N.C., May 19 /PRNewswire/ -- Southern National Corporation (NYSE: SNB) Chairman Glenn Orr, in New York on Wednesday to address members of the New York Society of Security Analysts, told approximately 100 Wall Street analysts that Southern National continues to be optimistic about 1993 results largely because of improving loan growth and a stable net interest margin.
 Orr reported that loan growth was stronger in April than in any month in the first quarter. Joining Orr in the presentation to NYSSA were Chief Financial Officer John R. Spruill and Chief Credit Officer Michael W. Sperry.
 "For the past three years, Southern National has improved all of its key performance ratios," Orr said. "Our return on assets and return on equity are at historical highs. We operate our corporation more efficiently than we have at any time in our past. Through productivity initiatives and in-market mergers, we now support more deposits per branch and more earning assets per employee than ever. We close branches that are not efficient."
 Southern National reported in the first quarter return on assets of 1.40 percent and return on equity of 18.02 percent as well as an earnings per share increase of 39 percent over the first quarter of 1992. Following the completion of two pending mergers, Southern National will rank first or second in deposit market share in more than half of the 90 markets in which it operates in North and South Carolina, representing about 60 percent of the corporation's total deposits.
 Southern National is a $5.1 billion corporation with 158 offices in North and South Carolina.
 -0- 5/19/93
 /CONTACT: Bob Denham, Public Relations, Southern National Corporation, 919-671-2427/
 (SNB)


CO: Southern National Corporation ST: North Carolina IN: FIN SU:

CM -- CH004 -- 0352 05/19/93 14:04 EDT
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Publication:PR Newswire
Date:May 19, 1993
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