SPECIAL REPORT: THE CONSENSUS of the four participants in the American Banker quarterly roundtable - including Morgan Stanley's Dennis Shea - is that general trading values for bank stocks appear headed for a holding pattern, but select investment opportunities will remain. Page 14 WASHINGTON: BANKERS and legislators alike extolled the benefits of Rep. Doug Bereuter's proposed Financial Institutions Regulatory Relief Act. Page 2 THE CHAIRMAN of the Senate Small Business Committee hears a time bomb ticking in a popular SBA loan program. Page 4 REGIONAL BANKING: IN A LETTER to Fleet Financial Group chairman Terrence Murray, Massachusetts' congressional delegation expressed concern about "the disproportionate" share of jobs the state stands to lose in the Shawmut merger. Page 5 L.M. BAKER JR., after 17 months at the helm, is trying to prepare Wachovia Corp. for dealing with customers in the 21st century as well as the possibility of further industry consolidation. Page 6 COMMUNITY BANKING: DISSATISFIED with their performance, two Northeastern community banks are seeking to boost earnings with top-to-bottom reorganizations. Page 8 A NEW JERSEY community banking company is seeking to hop the Canadian border as it expands its indirect auto financing ties with a national insurer. Page 8 MORTGAGES: FANNIE MAE's proposal to hook up its originations system with Freddie Mac's underwriting system drew praise from the chairman of GE Capital Mortgage. Page 10 INVESTMENT PRODUCTS: AFTER MONTHS of turmoil, there are signs that Banc One Corp. is positioning itself to be a major deliverer of investor services. Page 13 TECHNOLOGY: WACHOVIA CORP. and Huntington Bancshares are expected to announce today that they will invest in the new bank that a Kentucky community bank is setting up on the Internet. Page 19

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