UNION PLANTERS MAKING CUTBACKS

Union Planters Bank will close three branch operations in Southeast Missouri and one in Southern Illinois.

Scheduled for closure are properties at Perryville, Benton and Marble Hill in Missouri, and Carbondale in Illinois.

The closings follow a year-long look at growth potential and are part of a consolidation effort by the Memphis-based banking corporation.

"Many of the smaller branches throughout Union Planters system will close over the next three to six months," said Charles Daniel, president of the Cape Girardeau Union Planters Bank.

Union Planters, which purchased the former Capital Bank here in 1996, has targeted at least 20 properties in seven states.

Other bank properties in Missouri slated to be sold or leased are located in Branson, Maryland Heights, O'Fallon, Springfield and St. Peters.

Employees at the various branches will be offered positions in other Union Planters office as they become available.

Union Planters Corporation reported an increase of 14 percent in cash operating earnings for the fourth quarter of 2000. Earnings were reported at $116.2 million, or 86-cents per diluted share. Net earnings for the quarter were $103 million, or 76 cents per share.

For 2000, cash operating earnings were a record $461.6 million, or $3.38 per diluted share, an increase of 9.7 percent from 1999.