BusinessFebruary 1, 1999
BUSINESS MEMO: UNION PLANTERS EARNINGS
Union Planters Corp. reported earnings of $225.6 million, or $1.58 per diluted share for 1998, compared to $339.8 million or $2.47 per diluted share of 1997. The 1998 results reflect acquisitions during the year of Magna Group Inc., a $7.7 billion operation at St. Louis; Ready State Bank in Hialeah, Fla.; Southeast Bancorp., in Corbin, Ky.; and LaPlace Bancshares Inc., at LaPlace, La...
Union Planters Corp. reported earnings of $225.6 million, or $1.58 per diluted share for 1998, compared to $339.8 million or $2.47 per diluted share of 1997.
The 1998 results reflect acquisitions during the year of Magna Group Inc., a $7.7 billion operation at St. Louis; Ready State Bank in Hialeah, Fla.; Southeast Bancorp., in Corbin, Ky.; and LaPlace Bancshares Inc., at LaPlace, La.
The acquisitions increased total assets from $18.1 billion to $31.7 billion, making Planters Union one of the 30 largest bank holding companies in the United States.
Receive Daily Headlines FREESign up today!
Fourth-quarter earnings were $27.6 million, or 19 cents per diluted share.
Results for the year and quarter were impacted by merger-related charges.
Union Planters, headquartered at Memphis, is a multi-state bank holding company with 810 banking offices in 12 states, including Cape Girardeau.
Story Tags
Connect with the Southeast Missourian Newsroom:
For corrections to this story or other insights for the editor, click here. To submit a letter to the editor, click here. To learn about the Southeast Missourian’s AI Policy, click here.
Advertisement
Receive Daily Headlines FREESign up today!
