FIRST UNION CORP <FUNC.O> SEES LOWER 2ND QTR
First Union Corp said its second
quarter (ending June 30) earnings will be down around 13 cts a
share from 65 cts a share in the second quarter last year to an
estimated 59 mln dlrs or 53 cts a share.
    The company said this will be the result of adding 25 mln
dlrs to its reserve for Latin American loan exposures, bringing
its reserve to 57 mln dlrs.
    It said it expects its return on equity and return on
assets to be among the highest for major United States banks
this year.
 Reuter
