BUSINESS MEMO: CAPITAL BANCORPORATION NET EARNINGS UP MARKEDLY

Capital Bancorporation's net income for the three months ended Sept. 30, was $2.65 million, up 82 percent from the same quarter in 1994. Earnings per common and common equivalent shares for the three months were 71 cents, compared to 36 cents over third-quarter results of 1994. Assets exceeded $1.1 billion.

Capital Bancorporation's net income for the nine months ended Sept. 30 was $7.587 million, up 50 percent from the first nine months of 1994. Earnings per share for the nine months was $2.04, compared to $1.30 cents a year ago.

Non-performing loans June 30 were $9.35 million. The allowance for possible loan losses was $13,907,000, representing 149 percent of nonperforming loans and 1.64 percent of total loans.

As previously announced, Union Planters Corp. of Memphis, Tenn., and Capital have entered into a definitive agreement to which UPC would acquire all of the outstanding stock of Capital.

On Oct. 16, the board of directors of Capital declared a regular quarterly cash dividend of 19 cents per share on common stock, payable Nov. 2 to shareholders of record Oct. 26. The board also declared the quarterly cash dividend with respect to the preferred stock (depositary shares) payable Dec. 1 to holders of record Nov. 24.

Capital Bancorporation is a multibank holding company headquartered in Cape Girardeau. The company operates 35 facilities through seven affiliate banks in Missouri and northeastern Arkansas.