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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
November 28, 1998
UNITED TENNESSEE BANKSHARES, INC.
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(Exact name of registrant as specified in charter)
Tennessee 0-23551 62-1710108
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(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
344 Broadway, Newport, Tennessee 37821
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:(423)623-6088
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
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On November 28, 1998, Newport Federal Bank (the "Bank"),
the wholly owned subsidiary of United Tennessee Bankshares, Inc.
(the "Registrant") completed its acquisition of the Newport,
Tennessee branch of Union Planters Bank of the Lakeway Area
("Union Planters"). Pursuant to the acquisition, the Bank
assumed approximately $15 million in deposit liabilities and
received cash and other assets from Union Planters totaling
approximately $14 million.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS.
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None.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly author-
ized.
UNITED TENNESSEE BANKSHARES, INC.
By: /s/ Richard G. Harwood
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Richard G. Harwood
President and Chief Executive
Officer
Date: December 11, 1998
