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SOUTHTRUST ANNOUNCES SECOND QUARTER FINANCIAL RESULTS

 SOUTHTRUST ANNOUNCES SECOND QUARTER FINANCIAL RESULTS
 BIRMINGHAM, Ala., July 9 /PRNewswire/ -- SouthTrust Corporation (NASDAQ: SOTR) announced its second quarter 1992 financial results, according to Wallace D. Malone Jr., chairman and chief executive officer of the corporation.
 For the quarter ended June 30, SouthTrust reported net income of $27.5 million, compared to $22.5 million reported in second quarter 1991. The per share comparison was $0.62 for second quarter 1992 vs. $0.55 for second quarter 1991.
 For the six month period ended June 30, net income was $53.2 million, up from $42.7 million a year ago. Per share, the six month comparison was $1.20 in 1992 vs. $1.04 in 1991, an increase of 15 percent.
 Total assets increased to $11.3 billion from $9.2 billion at June 30, 1991, an increase of 22 percent. Loan volume increased to $6.5 billion from $5.7 billion of a year ago. Deposits grew to $9.2 billion, a 26 percent increase over the June 30, 1991 figure of $7.3 billion.
 Stockholders' equity grew to $700 million as of June 30, compared to $578.8 million at June 30, 1991.
 "We are very excited with our performance this quarter," Malone said. "SouthTrust has recently enjoyed several record-breaking quarters, and we anticipate continued growth and strong earnings throughout the rest of the year."
 SouthTrust Corporation currently operates 40 banks with more than 340 offices in Alabama, Florida, Georgia, North Carolina, South Carolina and Tennessee.
 SouthTrust Corporation common stock is traded on the national over- the-counter market under the NASDAQ symbol SOTR.
 SOUTHTRUST CORPORATION
 Financial Highlights
 Income Summary
 (in thousands, except per share data)
 Pct.
 3 mos. ended June 30 1992 1991 Chg.
 Net income $27,472 $22,484 22
 Avg. shares outstanding 44,566 41,185 ---
 Per share:
 Net income $ 0.62 $ 0.55 13
 Cash dividends declared 0.195 0.18 8
 Return on average assets 1.02 pct. 0.99 pct. ---
 Return on avg. equity 16.08 15.87 ---
 Net interest margin (FTE) 4.68 4.35 ---
 Non-interest expense as a percent
 of average total assets 3.41 3.07 ---
 Pct.
 6 mos. ended June 30 1992 1991 Chg.
 Net income $53,247 $42,719 25
 Avg. shares outstanding 44,532 41,069 ---
 Per share:
 Net income $ 1.20 $ 1.04 15
 Cash dividends declared 0.39 0.36 8
 Return on average assets 1.02 pct. 0.95 pct. ---
 Return on avg. equity 15.80 15.35 ---
 Net interest margin (FTE) 4.63 4.30 ---
 Non-interest expense as a percent
 of average total assets 3.33 3.08 ---
 Period End Selected Balances
 (in millions, except per share data)
 Amount Pct.
 At June 30 1992 1991 Chg. Chg.
 Total assets $11,281.7 $ 9,241.6 $2,040.1 22
 Deposits 9,229.3 7,348.6 1,880.7 26
 Loans, net of
 unearned inc. 6,506.4 5,729.6 776.9 14
 Stockholders' equity 700.0 578.8 121.2 21
 Shares outst. period end 44.1 40.9 3.2 8
 Book value per share $ 15.89 $ 14.16 $1.73 12
 LONG-TERM PERFORMANCE (1986-1991)
 Period ending Dec. 31, 1991:
 Five year compound growth
 Net income 10.76 pct.
 Net income per share 8.58
 Dividends declared per share 10.69
 Period ended Dec. 31, 1991:
 Five year compound growth
 Total assets 14.03 pct.
 Loans, net of unearned inc. 14.26
 Deposits 14.93
 Stockholders' equity 13.06
 Stockholders' equity/share 10.69
 -0- 7/9/92
 /CONTACT: Aubrey Barnard of SouthTrust, 205-254-5509/
 (SOTR) CO: SouthTrust Corporation ST: Alabama IN: FIN SU: ERN


EA-BR -- AT008 -- 7873 07/09/92 13:20 EDT
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Date:Jul 9, 1992
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