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SOUTHTRUST ANNOUNCES RECORD SECOND QUARTER FINANCIAL RESULTS

 BIRMINGHAM, Ala., July 12 /PRNewswire/ -- SouthTrust Corporation (NASDAQ: SOTR) announced record second quarter financial results today, according to Wallace D. Malone Jr., chairman and chief executive officer of the corporation.
 SouthTrust experienced significant increases in second quarter net income and total assets, among other financial indicators. For the quarter ended June 30, SouthTrust reported net income of $37.2 million, which represented an increase of 36 percent over the $27.5 million earned in the second quarter of 1992. The per share comparison was $.48 for the second quarter of 1993 compared to $.41 for the second quarter of 1992.
 For the six months ended June 30, net income was $72.1 million, a 35 percent increase over the $53.2 million reported a year ago. Per share, the six-month comparison was $.94 in 1993 vs. $.80 in 1992.
 SouthTrust's asset growth continued through the second quarter as assets reached $13.7 billion at June 30. The corporation is ranked among the 50 largest bank holding companies in the nation, according to the investment firm of Keefe, Bruyette & Woods and Fortune magazine, among other sources.
 The $13.7 billion in consolidated assets through June 30 is a 21 percent increase over the $11.3 billion in assets reported June 30, 1992. Other important financial indicators showed strong growth as well. Loans increased 29 percent to $8.4 billion from $6.5 billion a year ago. Deposits grew by 17 percent, reaching $10.8 billion at the close of the second quarter of 1993, compared to $9.2 billion at second quarter-end 1992.
 "We continue to be very pleased by our significant growth and positive performance in the very important indicators of a company's measurable success, net income and return to investors," Malone said. "SouthTrust is ranked among the top 50 publicly owned companies in the nation in highest total return to investors over the last 10 years, and is in the top 50 in greatest growth in earnings per share over the past 10 years. Our strategy of positioning SouthTrust banks in high-growth southeastern markets has been the key factor in the success of the corporation as a whole."
 SouthTrust's performance produced an annualized return on average stockholders' equity of 15.96 percent for the second quarter of 1993. Stockholders' equity as of June 30 was $955 million, an increase of 36 percent over the $700 million in stockholders' equity as of June 30, 1992.
 SouthTrust Corporation common stock is traded on the national over- the-counter market under the NASDAQ symbol SOTR.
 SouthTrust Corporation operates more than 375 offices in Alabama, Florida, Georgia, North Carolina, South Carolina and Tennessee. The company offers a complete line of banking and related financial services to commercial and retail customers.
 SOUTHTRUST CORPORATION
 Financial Highlights
 (Dollars in thousands, except for per share amounts)
 3 mos. ended June 30 1993 1992 Pct. chg.
 Net income $37,240 $27,472 36
 Net income per share $ 0.48 $ 0.41 17
 Cash dividends $ 0.15 $ 0.13 15
 Avg. shares outstanding (000) 77,753 66,849 16
 6 mos. ended June 30 1993 1992 Pct. chg.
 Net income $72,084 $53,247 35
 Net income per share $ 0.94 $ 0.80 18
 Cash dividends $ 0.30 $ 0.26 15
 Avg. shares outstanding 77,003 66,798 15
 Ending Balances
 At June 30 1993 1992 Pct. chg.
 Total assets $13,672,905 $11,281,729 21
 Earning assets 12,653,727 10,162,519 25
 Deposits 10,798,001 9,229,322 17
 Loans 8,411,325 6,506,453 29
 Stockholders' equity 954,739 700,016 36
 Book value per share $12.35 $10.59 17
 Average Balances
 3 mos. ended June 30 1993 1992 Pct. chg.
 Total assets $13,535,229 $10,817,936 25
 Earning assets 12,466,814 9,866,254 26
 Deposits 10,771,979 8,961,961 20
 Loans 8,238,328 6,301,672 31
 Stockholders' equity 935,811 687,318 36
 6 mos. ended June 30 1993 1992 Pct. chg.
 Total assets $13,218,155 $10,480,354 26
 Earning assets 12,165,166 9,576,185 27
 Deposits 10,507,858 8,620,617 22
 Loans 8,013,464 6,134,997 31
 Stockholders' equity 911,995 677,844 35
 -0- 7/12/92
 /CONTACT: Aubrey D. Barnard of SouthTrust, 205-254-5509/
 (SOTR)


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

BN-CF -- AT004 -- 0283 07/12/93 09:28 EDT
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Date:Jul 12, 1993
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