EXHIBIT (99)
FIRST UNION CORPORATION OF VIRGINIA AND SUBSIDIARIES
SUMMARIZED FINANCIAL DATA
DECEMBER 31, 1996 AND 1995
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In connection with the merger of Dominion Bankshares Corporation into
First Union Corporation of Virginia ("FUNC-VA"), a wholly owned subsidiary of
First Union Corporation ( the "Corporation"), on March 31, 1993, FUNC-VA
assumed, and subsequently the Corporation guaranteed, FUNC-VA's publicly held
9-5/8 % Subordinated Capital Notes due in 1999. Set forth below is summarized
consolidated financial information for FUNC-VA and subsidiaries for the periods
indicated.
CONSOLIDATED CONDENSED STATEMENTS OF INCOME
YEARS ENDED
DECEMBER 31,
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(IN MILLIONS) 1996 1995
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Net interest income $ 648 537
Income before income taxes 439 280
Net income $ 281 183
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CONSOLIDATED CONDENSED BALANCE SHEETS
DECEMBER 31,
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(IN MILLIONS) 1996 1995
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Assets $ 20,131 17,077
Securities available for sale 4,340 3,424
Investment securities 403 528
Loans, net of unearned income 10,956 10,149
Stockholder's equity $ 1,811 1,378
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