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Business Description
Union Planters Corporation is a multi-state bank holding company whose primary business is banking. Union Planters Bank, National Association (UPB), headquartered in Memphis, Tennessee, is Union Planters' largest subsidiary. The principal banking markets of Union Planters are in Alabama, Arkansas, Florida, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, Missouri, Tennessee and Texas. Union Planters' existing market areas are served by its 764 banking offices and 964 automated teller machines (ATMs). Capital Factors, Inc., a wholly owned subsidiary of UPB, provides receivable-based commercial financing and related fee-based credit, collection and management information services through regional offices. The mortgage operations of UPB operate 27 mortgage production offices in Alabama, Arizona, California, Colorado, Florida, Georgia, Illinois, Louisiana, Nevada, North Carolina, Ohio, Tennessee, Texas and Washington, in addition to mortgage production offices in its branches.

Financial Information
UPC is a bank holding company whose subsidiaries operate through 764 banking offices in 12 states. For the six months ended 6/30/02, total interest income fell 24% to $965.7 million. Net interest income after LLP fell 4% to $549.5 million. Net income applicable to Common rose 18% to $253 million. Net interest income reflects a decrease in average earning assets, partially offset by lower borrowings. Earnings were offset by increased mortgage banking revenue.