ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Friday, July 12, 1996 TAG: 9607120048
SECTION: BUSINESS. PAGE: A-7 EDITION: METRO
Crestar Financial Corp.
2nd qtr. ended 6-30 1996 1995Net Interest Income $184.5 million $171.0 millionNet Income $56.7 million $51.8 millionShare earnings $1.31 $1.186 mos. ended 6-30Net Interest Income $363.5 million $340.7 millionNet Income $112.2 million $101.4 millionShare earnings $2.58 $2.32 Crestar Financial Corp., based in Richmond, said it will buy up to 3.4 million shares of its own stock on the open market in the next 18 months. That's in addition to purchase of 1 million shares authorized in April. Discussing delinquencies, the bank said it believes credit card chargeoffs are already at or near a peak.
First Union Corp.
2nd qtr. ended 6-30 1996 1995Net Interest Income $1.3 billion $1.2 billionNet Income $436 million $359 millionShare earnings $1.55 $1.306 mos. ended 6-30Net Interest Income $2.5 billion $2.4 billionNet Income $856 million $697 millionShare earnings $3.04 $2.49 First Union Corp., based in Charlotte, N.C., said its net income rose 21 percent. That included 9 percent growth in net interest income and 25 percent growth in fee income. The latter figure was primarily attributed to its Capital Management and Capital Markets groups' growth.
Georgia-Pacific Corp.
2nd. qtr. ended 6-30 1996 1995Revenues $3.32 billion $3.7 billionNet Income $5 million $265 millionShare earnings 11 cents $2.956 months ended 6-30Revenues $6.37 billion $7.18 billionNet Income $55 million $497 millionShare earnings 66 cents $5.54 Georgia-Pacific Corp. is an Atlanta-based forest-products company with a paper mill and other operations in Bedford County and a distribution center in Roanoke. Second quarter net income would have been $55 million but for a $74 million pre-tax charge for an early-retirement plan and a $5 million after-tax loss for the early retirement of debt.
National Commerce Bancorp.
2nd qtr. ended 6-30 1996 1995Net Interest Income $35.1 million $29.8 millionNet Income $13.7 million $11.8 millionShare earnings 55 cents 47 cents6 mos. ended 6-30Net Interest Income $50 million $59.1 millionNet Income $27.0 million $23.1 millionShare earnings $1.08 92 cents National Commerce Bancorp., based in Memphis, Tenn., is the parent company of NBC Banks inside Kroger stores in Western Virginia. The company increased its provision for loan losses in the second quarter to $4.4 million compared to $1.7 million a year earlier. Nonperforming loans increased only slightly from $58,000 to $97,000 in the same period.
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