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         UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 14932 / June 6, 1996

SECURITIES AND EXCHANGE COMMISSION V. JAMES M. LEAGUE, JR.,
U.S.D.C. South Carolina, Civil Action No. 6:96-1621-20

The Securities and Exchange Commission today announced that it
has sued James M. League, Jr. of Greer, South Carolina.

The SEC charged that in April 1993, League, while he was employed
as the chief operating officer of the former First Savings Bank
of Greenville, South Carolina, he tipped his mother about ongoing
acquisition discussions with the First Union Bank of South
Carolina.

According to the SEC complaint, the night before an April 28,
1993 meeting of senior executives of both banks, League
instructed his mother to buy shares of the First Savings Bank. 
The following morning, Mrs. League purchased 1500 shares through
her brokerage account for approximately $9.60 per share.

Although the discussions with First Union fell through, the First
Savings Bank was acquired by The Southern National Corporation in
August, 1993.  Mrs. League, now deceased, realized profits of
$6,187.

League, without admitting or denying the allegations, consented
to the entry of a permanent injunction restraining him from
violating section 10(b) of the Securities Exchange Act of 1934
and Rule 10b-5 thereunder.  Under the consent agreement with the
Commission, League has agreed to repay the profits imputed to his
mother, pre-judgment interest, as well as a treble civil penalty
of over $18,500, totalling $26,229, all payable to the U.S.
Treasury.