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SOUTHTRUST ANNOUNCES FOURTH QUARTER FINANCIAL RESULTS

 BIRMINGHAM, Ala., Jan. 11 /PRNewswire/ -- SouthTrust Corporation (NASDAQ-NMS: SOTR) reported record earnings at fourth quarter and year- end, according to Wallace D. Malone Jr., chairman and chief executive officer of the corporation.
 For the quarter ended Dec. 31, 1992, SouthTrust reported net income of $31.9 million, compared to $23.7 million reported in fourth quarter 1991. The per share comparison was $0.66 for fourth quarter 1992 vs. $0.54 for fourth quarter 1991.
 In the 12-month period ending Dec. 31, 1992, net income was $114.2 million, marking the first time SouthTrust's annual earnings have exceeded $100 million. This figure is up 27 percent from the $90.0 million earned in 1991. Per share, the 12-month comparison was $2.49 in 1992 vs. $2.13 in 1991, an increase of 17 percent. Returns on average total assets and average stockholders' equity were 1.04 percent and 15.66 percent, respectively.
 Total assets at Dec. 31, 1992, were $12.7 billion, up 25 percent over the $10.2 billion in assets at Dec. 31, 1991. At year-end loans had grown to $7.5 billion from $6.0 billion of a year ago. Deposits increased to $10.1 billion from $8.3 billion reported Dec. 31, 1991.
 Stockholders' equity grew to $860 million as of Dec. 31, 1992, compared to $662 million one year ago, an increase of 30 percent.
 "Clearly, we are very pleased with both fourth quarter and year-end results," Malone said. "SouthTrust turned in a strong performance in all key areas. All of our employees have worked hard to attain these record results, and we thank our customers and stockholders for their support as well."
 SouthTrust Corporation currently operates 40 banks with 359 offices in Alabama, Florida, Georgia, North Carolina, South Carolina and Tennessee.
 SOUTHTRUST CORPORATION
 Financial Highlights
 (Dollars in thousands, except for per share amounts)
 3 mos. ended Dec. 31 1992 1991 Pct. chg.
 Net income $31,887 $23,696 35
 Net income per share 0.66 0.54 22
 Cash dividends per share 0.195 0.18 8
 Avg. shares outstanding (000) 48,555 43,670 11
 Return on average assets 1.06 pct. 0.95 pct.
 Return on average equity 15.52 14.78
 Net-interest margin (FTE) 4.65 4.47
 12 mos. ended Dec. 31 1992 1991 Pct. chg.
 Net income $114,246 $90,006 27
 Net income per share 2.49 2.13 17
 Cash dividends per share 0.78 0.72 8
 Avg. shares outstanding (000) 45,965 42,170 9
 Return on average assets 1.04 pct. 0.96 pct.
 Return on average equity 15.66 15.21
 Net-interest margin (FTE) 4.65 4.36
 Ending Balances: Dec. 31
 Ending balances 1992 1991 Pct. chg.
 Total assets $12,714,397 $10,158,141 25
 Earning assets 11,601,101 9,233,296 26
 Deposits 10,082,240 8,277,200 22
 Loans 7,546,619 5,965,032 27
 Stockholders' equity 860,352 662,000 30
 Book value per share 17.33 15.08 15
 Average Balances
 12 mos. ended Dec. 31 1992 1991 Pct. chg.
 Total assets $11,028,174 $ 9,411,730 17
 Earning assets 10,090,074 8,600,011 17
 Deposits 8,996,060 7,646,393 18
 Loans 6,466,689 5,717,999 13
 Stockholders' equity 729,649 591,841 23
 -0- 1/11/93
 /CONTACT: Aubrey Barnard of SouthTrust Corporation, 205-254-5509/
 (SOTR)


CO: SouthTrust Corporation ST: Alabama IN: FIN SU: ERN

RA-BR -- AT009 -- 3508 01/11/93 11:44 EST
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Date:Jan 11, 1993
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