First Union Bank Message Board

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Non-Tech : First Union Bank

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To: MARK BARGER who wrote (295)	7/20/2000 9:02:27 AM
From: Lynn	Read Replies (1) of 323

Dear Mark: I have seen you post to threads of some other stocks I hold and to be completely honest, am surprised to see _anyone_ from those threads post here as a _new_ shareholder. The earnings are now out and despite being a loss of $2.2 billion, FTU did manage to beat street estimates by one penny: Thursday July 20, 8:05 am Eastern Time First Union posts loss of $2.2 billion after charge biz.yahoo.com A later earnings news item notes at the end that: "... the bank's provisions for loan losses jumped to $493 million in the quarter from $180 million a year ago. Net chargeoffs rose to $228 million from $180 million. First Union said if current conditions persisted, it expects it would see further modest increases in its loan loss provisions." dailynews.yahoo.com I sure hope your friend is right that the worst is behind FTU. Regards, Lynn, ex-CFL (CoreStates) shareholder

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