
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: WEDNESDAY, July 18, 1990                   TAG: 9007180135
SECTION: BUSINESS                    PAGE: A-3   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

SOVRAN NET DOWN FROM '89 FIGURES

Sovran Financial Corp. on Tuesday reported second-quarter net income of $22.1 million, compared with $65.5 million earned during the same period a year ago. Earnings per common share were 37 cents for the quarter, compared with $1.10 for the corresponding period a year ago. Net income for the first six months of 1990 was $88.7 million or $1.48 per common share, compared with $127.4 million or $2.13 per share for the same period last year.

The Norfolk-based banking company said the results were primarily affected by a second-quarter increase of $69.8 million, in the provision for credit losses, over the same quarter of 1989.

- Associated Press

by CNB