ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Tuesday, October 15, 1996 TAG: 9610150118
SECTION: BUSINESS PAGE: B-5 EDITION: METRO
First Union Corp.
3rd qtr. ended 9-30 1996 1995
Net Interest Income $1.18 billion $1.15 billion
Net Income $356 million $376 million
Share earnings $1.29 $1.36
9 mos. ended 9-30
Net Interest Income $3.55 billion $3.39 billion
Net Income $1.03 billion $1.07 billion
Share earnings $3.69 $3.85
First Union Corp. of Charlotte, N.C., is the parent of First Union National Bank of Virginia based in Roanoke. The company was impacted in the third quarter by a one-time assessment of $86 million on deposits acquired from thrift institutions. In the nine months, the company felt the effects of expenses related to merger with First Fidelity. Without the assessment, income would have risen 18 percent. First Union said net interest income rose 6 percent, while fee income increased 28 percent. Fee income was led by the capital management and capital markets businesses.
LENGTH: Short : 29 linesby CNB