SOUTHEAST BANCORP &lt;STB> ACTS ON BRAZILIAN DEBT
  Following the lead of other major
  banks, Southeast Banking Corp told the Securities and Exchange
  Commission it would place 54.2 mln dlrs of medium- and
  long-term Brazilian debt on non-accrual or cash status.
      Based on current interest rates, it estimated in a filing
  that the move will reduce net income by about 800,000 dlrs in
  the first quarter and 3.2 mln dlrs for all of 1987. The company
  also said it did not believe the Brazilian debt situation would
  have a "material adverse" effect on it.
      It also said it would issue 1,080,000 common shares in
  connection with its acquisition of Popular Bancshares Corp.
  

