BUSINESS MEMO: UNION PLANTERS EARNINGS

Union Planters Corp. reported earnings of $208.8 million, or $2.45 per diluted share for 1997, up from the $171.5 million or $2.05 per diluted share of 1996.

The 1997 results reflect the acquisitions of five financial institutions during the year, including Hattiesburg, Mississippi-based Magna BanCorp. Inc. and Miami, Fla.-based Capital Bancorp., which increased total assets about $3.6 billion.

Union Planters, largest bank holding company in Tennessee, ended the year with assets of $18.1 billion, an increase of 18.9 percent from 1996 totals. Total loans were $12.7 billion; total deposits were $13.4 billion and total shareholders' equity was $1.7 billion.

Total results for 1997 were reduced by some merger-related charges and increases in the provision for losses on loans related primarily to acquisitions and credit card portfolio.

Fourth-quarter earnings were $5.3 million, or 5 cents per diluted share, compared to $22.3 million, or 27 cents per diluted share during the same period of 1996

Union Planters, headquartered at Memphis, is a multi-state bank holding company with 516 banking offices in eight states, including Cape Girardeau. Union Planters is one of the 50 largest bank holding companies in the United States.