STAR BANC CORPORATION
THRIFT SAVINGS 401(K) PLAN
EIN: 31-0838189
PLAN NUMBER: 003
FINANCIAL STATEMENTS
AS OF
DECEMBER 31, 1993 AND 1992
TOGETHER WITH
AUDITORS' REPORT
<PAGE>
INDEX TO ANNUAL REPORT
ON FORM 11-K
I. Financial Statements Page
(a) Report of Independent Public Accountants F-2
(b) Statements of Assets Available for F-3 - F-4
Benefits as of December 31, 1993 and 1992
(c) Statements of Changes in Assets Available F-5 - F-7
for Benefits for each of the three years
in the period ended December 31, 1993
(d) Notes to Financial Statements F-8 - F-12
(e) Schedule of Assets Held for Investment F-13 - F-17
Purposes as of December 31, 1993
(f) Schedule of Reportable Transactions F-18
for the year ended December 31, 1993
II. Exhibit
Exhibit
Number
-------
(a) Consent of Independent Public Accountants 23
F-1
<PAGE>
Report of Independent Public Accountants
To the Board of Directors of Star Banc Corporation:
We have audited the accompanying statements of assets available
for benefits of STAR BANC CORPORATION THRIFT SAVINGS 401(K) PLAN as of
December 31, 1993 and 1992, and the related statements of changes in
assets available for benefits for each of the three years in the period
ended December 31, 1993. These financial statements and the schedules
referred to below are the responsibility of the Plan's administrator.
Our responsibility is to express an opinion on these financial
statements and schedules based on our audit.
We conducted our audits in accordance with generally accepted
auditing standards. Those standards require that we plan and perform
the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining,
on a test basis, evidence supporting the amounts and disclosures in the
financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe that
our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above
present fairly, in all material respects, the assets available for
benefits of the Plan as of December 31, 1993 and 1992, and the changes
in assets available for benefits for the three years in the period ended
December 31, 1993, in conformity with generally accepted accounting
principles.
Our audit was made for the purpose of forming an opinion on the
basic financial statements taken as a whole. The supplemental Schedule
of Assets Held for Investment Purposes and Schedule of Reportable
Transactions are presented for purposes of additional analysis and
are not a required part of the basic financial statements but are
supplementary information required by the Department of Labor's Rules
and Regulations for Reporting and Disclosure under the Employee
Retirement Income Security Act of 1974. The supplemental schedules have
been subjected to the auditing procedures applied in the audit of the
basic financial statements and, in our opinion, are fairly stated in all
material respects in relation to the basic financial statements taken as
a whole.
Cincinnati, Ohio,
June 27, 1994.
F-2
<PAGE>
<TABLE>
<CAPTION>
STAR BANC CORPORATION
THRIFT SAVINGS 401(K) PLAN
STATEMENT OF ASSETS AVAILABLE FOR BENEFITS
AS OF DECEMBER 31, 1993
Stable Employer Intermediate The
Asset Stock Equity Fixed Income Stellar
Total Fund Fund Fund Fund Fund
<S> <C> <C> <C> <C> <C> <C>
CASH $ 18,478 $ 1 $ - $ 1 $ - $ 18,476
RECEIVABLES:
Contributions 20,274 3,164 12,141 2,218 1,253 1,498
Dividends and Interest 166,159 8,045 158,073 28 13 -
INVESTMENTS, at market (Note 4):
Star Bank, N.A.,
Stable Asset Fund 10,059,305 10,059,305 - - - -
Common Stock of
Star Banc
Corporation -
544,659 Shares 19,063,065 - 19,063,065 - - -
Star Bank, N.A.,
Equity Fund 2,790,175 - - 2,790,175 - -
Star Bank, N.A.,
Intermediate Fixed
Income Fund 1,675,380 - - - 1,675,380 -
The Stellar Fund 1,516,983 - - - - 1,516,983
Star Prime Obligations
Fund 189,044 38,809 105,316 28,819 16,100 -
Trust for Short-Term
U.S. Government
Securities 34,307 34,307 - - - -
Participant Loans 24,928 8,156 11,270 1,195 1,341 2,966
ASSETS AVAILABLE FOR
BENEFITS $35,558,098 $10,151,787 $19,349,865 $2,822,436 $ 1,694,807 $ 1,539,923
</TABLE>
The accompanying notes to financial statements
are an integral part of this statement.
F-3
<PAGE>
<TABLE>
<CAPTION>
STAR BANC CORPORATION
THRIFT SAVINGS 401(K) PLAN
STATEMENT OF ASSETS AVAILABLE FOR BENEFITS
AS OF DECEMBER 31, 1992
Stable Employer Intermediate The
Asset Stock Equity Fixed Income Stellar
Total Fund Fund Fund Fund Fund
<S> <C> <C> <C> <C> <C> <C>
CASH $ 3 $ 1 $ - $ 1 $ - $ 1
RECEIVABLES:
Contributions 26,200 6,414 4,452 2,363 1,781 11,190
Dividends and
Interest 138,710 8,346 130,279 47 25 13
INVESTMENTS, at market (Note 4):
Star Bank, N.A.,
Stable Asset Fund 10,035,997 10,035,997 - - - -
Common Stock of Star Banc
Corporation -
500,478 Shares 18,017,208 - 18,017,208 - - -
Star Bank, N.A.,
Equity Fund 2,354,396 - - 2,354,396 - -
Star Bank, N.A.,
Intermediate Fixed
Income Fund 1,394,404 - - - 1,394,404 -
The Stellar Fund 738,641 - - - - 738,641
Star Prime Obligations
Fund 261,450 37,917 153,566 36,285 19,732 13,950
Trust for Short-Term
U.S. Government
Securities 85,421 85,421 - - - -
Participant Loans 12,039 2,123 4,968 1,336 1,200 2,412
ASSETS AVAILABLE FOR
BENEFITS $33,064,469 $10,176,219 $18,310,473 $2,394,428 $1,417,142 $ 766,207
The accompanying notes to financial statements
are an integral part of this statement.
</TABLE>
F-4
<PAGE>
<TABLE>
<CAPTION>
STAR BANC CORPORATION
THRIFT SAVINGS 401(K) PLAN
STATEMENT OF CHANGES IN
ASSETS AVAILABLE FOR BENEFITS
FOR THE YEAR ENDED DECEMBER 31, 1993
Stable Employer Intermediate The
Asset Stock Equity Fixed Income Stellar
Total Fund Fund Fund Fund Fund
INCOME (LOSS) FROM INVESTMENTS:
<S> <C> <C> <C> <C> <C> <C>
Dividends $ 611,822 $ - $ 611,822 $ - $ - $ -
Interest 9,312 2,884 3,992 1,167 698 571
Net realized and unrealized
gains and losses 528,795 651,539 (566,541) 210,801 89,958 143,038
Other (1,759) (782) (605) (190) (103) (79)
Net investment income 1,148,170 653,641 48,668 211,778 90,553 143,530
CONTRIBUTIONS (Note 3):
Employers 2,049,894 468,314 946,636 293,238 176,184 165,522
Employees 3,527,057 721,867 1,694,631 536,139 284,600 289,820
Fund transfers - (479,585) 511,474 (233,732) (61,530) 263,373
Net contributions 5,576,951 710,596 3,152,741 595,645 399,254 718,715
DISTRIBUTIONS TO
PARTICIPANTS (4,231,492) (1,388,669) (2,162,017) (379,415) (212,862) (88,529)
Net increase (decrease)
in assets available
for benefits 2,493,629 (24,432) 1,039,392 428,008 276,945 773,716
ASSETS AVAILABLE FOR
BENEFITS,
beginning of year 33,064,469 10,176,219 18,310,473 2,394,428 1,417,142 766,207
ASSETS AVAILABLE FOR
BENEFITS,
end of year $35,558,098 $10,151,787 $19,349,865 $ 2,822,436 $ 1,694,087 $ 1,539,923
The accompanying notes to financial statements
are an integral part of this statement.
</TABLE>
F-5
<PAGE>
<TABLE>
<CAPTION>
STAR BANC CORPORATION
THRIFT SAVINGS 401(K) PLAN
STATEMENT OF CHANGES IN
ASSETS AVAILABLE FOR BENEFITS
FOR THE YEAR ENDED DECEMBER 31, 1992
Stable Employer Intermediate The
Asset Stock Equity Fixed Income Stellar
Total Fund Fund Fund Fund Fund
INCOME (LOSS) FROM INVESTMENTS:
<S> <C> <C> <C> <C> <C> <C>
Dividends $ 474,198 $ - $ 474,198 $ - $ - $ -
Interest 7,833 3,307 2,876 811 491 348
Net realized and unrealized
gains and losses 6,022,474 691,385 5,107,453 128,861 74,799 19,976
Other 11,775 (9,933) 21,696 9 - 3
Net investment income 6,516,280 684,759 5,606,223 129,681 75,290 20,327
CONTRIBUTIONS (Note 3):
Employers 2,079,226 616,672 831,750 334,238 193,094 103,472
Employees 3,513,014 937,207 1,486,172 605,110 315,036 169,489
Fund transfers - (1,121,145) 556,242 118,752 (40,819) 486,970
Net contributions 5,592,240 432,734 2,874,164 1,058,100 467,311 759,931
DISTRIBUTIONS TO PARTICIPANTS (2,632,483) (1,108,064) (1,195,288) (227,304) (87,776) (14,051)
Increase in assets
available for benefits 9,476,037 9,429 7,285,099 960,477 454,825 766,207
ASSETS AVAILABLE FOR BENEFITS,
beginning of year 23,588,432 10,166,790 11,025,374 1,433,951 962,317 -
ASSETS AVAILABLE FOR BENEFITS,
end of year $33,064,469 $10,176,219 $18,310,473 $ 2,394,428 $ 1,417,142 $ 766,207
The accompanying notes to financial statements
are an integral part of this statement.
</TABLE>
F-6
<PAGE>
<TABLE>
<CAPTION>
STAR BANC CORPORATION
THRIFT SAVINGS 401(K) PLAN
STATEMENT OF CHANGES IN
ASSETS AVAILABLE FOR BENEFITS
FOR THE YEAR ENDED DECEMBER 31, 1992
Stable Employer Intermediate
Asset Stock Equity Fixed Income
Total Fund Fund Fund Fund
INCOME (LOSS) FROM INVESTMENTS:
<S> <C> <C> <C> <C> <C>
Dividends $ 391,247 $ - $ 391,247 $ - $ -
Interest 20,996 9,074 7,559 2,810 1,553
Net realized and unrealized
gains and losses 4,196,053 717,754 3,224,466 185,243 68,590
Other 8,546 (12,902) 21,574 (79) (47)
Net investment income 4,616,842 713,926 3,644,846 187,974 70,096
CONTRIBUTIONS (Note 3):
Employers 1,769,624 748,491 677,818 217,564 125,751
Employees 2,909,483 1,178,794 1,137,649 391,907 201,133
Fund transfers - (245,852) (177,682) 106,522 317,012
Net contributions 4,679,107 1,681,433 1,637,785 715,993 643,896
DISTRIBUTIONS TO PARTICIPANTS (2,138,139) (1,385,567) (640,899) (92,276) (19,397)
Increase in assets
available for benefits 7,157,810 1,009,792 4,641,732 811,691 694,595
ASSETS AVAILABLE FOR BENEFITS,
beginning of year 16,430,622 9,156,998 6,383,642 622,260 267,722
ASSETS AVAILABLE FOR BENEFITS,
end of year $ 23,588,432 $ 10,166,790 $ 11,025,374 $ 1,433,951 $ 962,317
The accompanying notes to financial statements
are an integral part of this statement.
</TABLE>
F-7
<PAGE>
STAR BANC CORPORATION
THRIFT SAVINGS 401(K) PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1993 AND 1992
(1) PLAN DESCRIPTION-
(a) ADMINISTRATION--Star Banc Corporation Thrift Savings 401(k)
Plan (the Plan) was adopted by Star Bank, N.A. (the Bank) on
January 1, 1985, by Star Bank, N.A., Indiana on September 30,
1986 and by Star Bank, N.A., Kentucky on February 1, 1988. The
Plan is administered by a committee (the Administrator)
appointed by the Board of Directors of the Bank and is trusteed
by the Trust Financial Services Group of the Bank.
Administrative expenses of the Plan are paid by the employers.
(b) PARTICIPATION--The Plan covers all employees of Star Banc
Corporation and participating affiliates (as defined in the Plan
agreement) who have attained age 21 and completed one year of
service. At December 31, 1993 and 1992, there were 2,535 and
2,929 active participants, respectively.
(c) PLAN CONTRIBUTIONS--The Plan provides eligible employees the
opportunity to save for future financial needs by setting aside
a portion of their compensation through payroll deductions.
Employees can elect to contribute up to ten percent of their
base pay to the Plan. Pursuant to Section 401(k) of the
Internal Revenue Code, contributions to the Plan and the
earnings therefrom are not subject to federal income tax until
the amounts are subsequently distributed to the participant.
The participants' employers make contributions which are equal
to the participant's contribution, up to three percent of the
participant's base pay.
(d) INVESTMENTS--Contributions are received and invested by the
Trustee once each week. The Trustee invests contributions as
directed by each participant (see Note 4). Dividend and interest
income and realized and unrealized gains or losses on
investments are allocated to individual participant's accounts
on a monthly basis.
(e) VESTING--A participant is 100% vested upon entering the
plan. Participants who terminate employment receive one hundred
percent of contributions and Plan earnings which have been
allocated to their account. Participants may, after reaching
the age of 59 1/2, elect to terminate participation and receive
full distribution of their account. In addition, participants
may apply for hardship withdrawals/loans subject to approval by
the Administrator.
F-8
<PAGE>
Notes to Financial Statements (continued)
(2) SIGNIFICANT ACCOUNTING POLICIES-
(a) BASIS OF ACCOUNTING--These financial statements are prepared
on the accrual basis of accounting.
(b) INVESTMENT VALUATION--The Plan's investments are valued at
market as determined by the Trustee by reference to published
market data, except for investments in guaranteed investment
contracts of the Stable Asset Fund, which are carried at
contract value. Unrealized appreciation or depreciation of
investments is reflected currently in the Statement of Changes
in Assets Available for Benefits.
(c) PLAN YEAR--The Plan and all of its records are kept on a
calendar-year basis.
(3) CONTRIBUTIONS-
In 1993, Star Banc Corporation merged six of its Ohio banks
located in Tri-State, Troy, Hillsboro, Preble County, Central Ohio
and Sidney with Star Bank, N.A. Concurrently, employees of
Star Banc Cororation became employees of Star Bank, N.A. In
addition, its two Indiana banks, located in Southeastern Indiana
and Eastern Indiana, were merged to form Star Bank, N.A.,
Indiana. Contributions made by employees of each employer and
amounts contributed by each employer for the years ended
December 31, 1993, 1992, and 1991 are as follows:
<TABLE>
<CAPTION>
1993
-----------------------------
Employees Employers
Contributions Contributions
<S> <C> <C>
Star Bank, N.A. $3,121,310 $1,806,753
Star Bank, N.A., Indiana 187,034 113,565
Star Banc Corporation, Kentucky 218,713 129,576
$3,527,057 $2,049,894
</TABLE>
<TABLE>
<CAPTION>
1992
----------------------------
Employees Employers
Contributions Contributions
<S> <C> <C>
Star Bank, N.A. $1,658,475 $ 952,873
Star Banc Corporation 724,317 455,214
Star Bank, N.A., Tri-State 156,142 102,780
Star Bank, N.A., Troy 103,996 58,010
Star Bank, N.A., Hillsboro 30,393 13,807
Star Bank, Preble County 32,480 14,690
Star Bank, Central Ohio 189,414 98,737
Star Bank, N.A., Southeastern Indiana 60,929 37,355
Star Bank, Eastern Indiana 190,975 110,014
Star Bank, N.A., Sidney 93,565 59,590
Star Banc Corporation, Kentucky 272,328 176,156
Total $3,513,014 $2,079,226
</TABLE>
F-9
<PAGE>
Notes to Financial Statements (continued)
(3) continued
<TABLE>
<CAPTION>
1991
----------------------------
Employees Employers
Contributions Contributions
<S> <C> <C>
Star Bank, N.A. $1,363,575 $ 789,675
Star Banc Corporation 577,699 393,519
Star Bank, N.A., Tri-State 150,391 101,205
Star Bank, N.A., Troy 97,095 57,429
Star Bank, N.A., Hillsboro 29,297 13,319
Star Bank, Preble County 28,843 14,491
Star Bank, Central Ohio 167,920 90,919
Star Bank, N.A., Southeastern Indiana 56,950 36,728
Star Bank, N.A., Eastern Indiana 169,571 103,093
Star Bank, N.A., Sidney 84,563 53,566
Star Banc Corporation, Kentucky 183,579 115,680
Total $2,909,483 $1,769,624
</TABLE>
(4) INVESTMENTS-
At December 31, 1993 and 1992, the Plan's Stable Asset Fund,
Employer Stock Fund, Equity Fund, Intermediate Fixed Income
Fund, and The Stellar Fund held investments in a variety of
funds managed by the Bank. The following summarizes the nature
of the primary underlying assets which comprise the investment
portfolio of each of the funds.
Primary
Investment Fund Investment Underlying Assets
Stable Asset Fund Star Bank, N.A., Pool of investment
Stable Asset Fund (a contracts issued by
fund within Star Bank, a diversified list
N.A., Pooled Investment of insurance
Trust for Employee companies
Benefit Plans)
Employer Stock Fund Common Stock Star Banc Corporation
common stock
Equity Fund Star Bank, N.A., Equity Common stocks of
Fund (a fund within Star large companies in a
Bank, N.A., Pooled wide variety of
Investment Trust for industries
Employee Benefit Plans)
F-10
<PAGE>
Notes to Financial Statements (continued)
(4) continued
Primary
Investment Fund Investment Underlying Assets
Intermediate Fixed Star Bank, N.A., Inter- U.S. Treasury notes,
Income Fund mediate Fixed Income and Federal Agency
Fund (a fund within obligations
Star Bank, N.A., Pooled
Investment Trust for
Employee Benefit Plans)
The Stellar Fund The Stellar Fund (a Approximately equal
mutual fund) weightings of U.S.
companies' stocks, U.S.
Government and Corporate
bonds, international
securities, real estate
securities, and money
market securities such as,
Treasury bills, bank
deposits and bankers'
acceptances.
The Bank is the investment adviser for the Star Bank, N.A.,
Stable Asset Fund, the Star Bank, N.A., Equity Fund, the Star
Bank, N.A., Intermediate Fixed Income Fund, and The Stellar
Fund. Each of the above investment funds also makes temporary
investments in the Star Prime Obligations Fund, (previously
known as the Losantiville Prime Obligations Fund), a money
market mutual fund of which the Bank is the investment adviser.
Funds awaiting annuity distributions are invested in the trust
for Short-Term U.S. Government Securities, a trust fund managed
by Federated Securities Corporation.
Investments which represent five percent or more of the Plan's
net assets are as follows:
<TABLE>
<CAPTION>
December 31, 1993 December 31, 1992
Market Market
Shares Value Shares Value
<S> <C> <C> <C> <C>
Star Bank, N.A.,
Stable Asset Fund 10,059,305 $10,059,305 10,035,997 $10,035,997
Common Stock of Star
Banc Corporation 544,659 $19,063,065 500,478 $18,017,208
Star Bank, N.A.,
Equity Fund 94,577 $2,790,175 86,503 $2,354,396
</TABLE>
F-11
<PAGE>
Notes to Financial Statements (continued)
(5) BENEFITS AND WITHDRAWALS PAYABLE-
Amounts payable to participants who have terminated their
interest in the Plan at December 31, 1993 and December 31, 1992,
which were unpaid at those dates, were $1,195,413 and $615,737,
respectively. These amounts are considered as a component of
assets available for benefits in the accompanying Statements of
Assets Available for Benefits.
(6) FEDERAL INCOME TAX STATUS-
The Plan obtained its latest determination letter on March 10,
1992, in which the Internal Revenue Service stated that the
Plan, as then designed, was in compliance with the applicable
requirements of the Internal Revenue Code. The Plan therefore
received tax exempt status under Section 401 of the Internal
Revenue Code. The Plan has been amended since receiving the
determination letter. However, the Plan Administrator and the
Plan's tax counsel believe that the Plan is currently designed
and being operated in compliance with the applicable
requirements of the Internal Revenue Code. Therefore, they
believe that the Plan was qualified and tax exempt as of
December 31, 1993.
F-12
<PAGE>
EIN: 31-0838189 SCHEDULE I
Plan Number 003 PAGE 1 OF 5
<TABLE>
<CAPTION>
STAR BANC CORPORATION
THRIFT SAVINGS 401(K) PLAN
STABLE ASSET FUND
ITEM 27(a) - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
AS OF DECEMBER 31, 1993
Shares/ Market
Identity of Issuer/Asset Description Par Value Cost Value
<S> <C> <C> <C>
Star Bank, N.A., Stable Asset Fund 10,059,305 $ 10,059,305 $ 10,059,305
Star Prime Obligations Fund 38,809 $ 38,809 $ 38,809
Trust for Short-Term U.S. Government
Securities 34,30 7 $ 34,307 $ 34,307
Participant Loans, interest at 7.0% to
7.5% - $ 8,156 $ 8,156
</TABLE>
In accordance with Section 2520.103-9, the Pension Review
Committee of Star Banc Corporation hereby certifies that the
Plan is in receipt of the most recent annual statement
of assets and liabilities of the Star Bank, N.A. Stable Asset
Fund, in which the Plan has an investment. In addition, a notice
has been received by the Plan from the Trust Financial
Services Group of Star Bank, N.A. (Trustee) informing the Plan
that the proper procedure was followed in filing a copy of the
most recent annual statement of assets and liabilities
of the fund in which the Plan has an investment with the
Department of Labor. The Employer Identification Number of the fund is
31-6355823.
F-13
<PAGE>
<TABLE>
<CAPTION>
EIN: 31-0838189 SCHEDULE I
Plan Number 003 Page 2 of 5
STAR BANC CORPORATION
THRIFT SAVINGS 401(K) PLAN
EMPLOYER STOCK FUND
ITEM 27(a) - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
AS OF DECEMBER 31, 1993
Shares/ Market
Identity of Issuer/Asset Description Par Value Cost Value
<S> <C> <C> <C>
Common Stock of Star Banc Corporation 544,659 $ 13,237,884 $ 19,063,065
Star Prime Obligations Fund 105,316 $ 105,316 $ 105,316
Participant Loans, interest at 7.0% to
10.0% - $ 11,270 $ 11,270
</TABLE>
F-14
<PAGE>
<TABLE>
<CAPTION>
EIN: 31-0838189 SCHEDULE I
Plan Number 003 Page 3 of 5
STAR BANC CORPORATION
THRIFT SAVINGS 401(K) PLAN
EQUITY FUND
ITEM 27(a) - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
AS OF DECEMBER 31, 1993
Shares/ Market
Identity of Issuer/Asset Description Par Value Cost Value
<S> <C> <C> <C>
Star Bank, N.A., Equity Fund 94,577 $ 2,445,789 $ 2,790,175
Star Prime Obligations Fund 28,819 $ 28,819 $ 28,819
Participant Loans, interest at 7.0% to
10.0% - $ 1,195 $ 1,195
</TABLE>
In accordance with Section 2520.103-9, the Pension Review
Committee of Star Banc Corporation hereby certifies that the Plan
is in receipt of the most recent annual statement
of assets and liabilities of the Star Bank, N.A. Equity Fund, in
which the Plan has an investment. In addition, a notice has been
received by the Plan from the Trust Financial Services Group of Star
Bank, N.A. (Trustee) informing the Plan that the proper procedure
was followed in filing a copy of the most recent annual
statement of assets and liabilities of the fund in which the
Plan has an investment with the Department of Labor. The Employer
Identification Number of the fund is 31-6023621.
F-15
<PAGE>
<TABLE>
<CAPTION>
EIN: 31-0838189 SCHEDULE I
Plan Number 003 Page 4 of 5
STAR BANC CORPORATION
THRIFT SAVINGS 401(K) PLAN
INTERMEDIATE FIXED INCOME FUND
ITEM 27(a) - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
AS OF DECEMBER 31, 1993
Shares/ Market
Identity of Issuer/Asset Description Par Value Cost Value
<S> <C> <C> <C>
Star Bank, N.A., Intermediate Fixed
Income Fund 60,831 $ 1,637,206 $ 1,675,380
Star Prime Obligations Fund 16,100 $ 16,100 $ 16,100
Participant Loans, interest at 7.0% - $ 1,341 $ 1,341
</TABLE>
In accordance with Section 2520.103-9, the Pension Review
Committee of Star Banc Corporation hereby certifies that the Plan is in
receipt of the most recent annual statement of assets and liabilities
of the Star Bank, N.A. Intermediate Fixed Income Fund, in which
the Plan has an investment. In addition, a notice has been received by
the Plan from the Trust Financial Services Group of Star Bank, N.A.
(Trustee) informing the Plan that the proper procedure was followed
in filing a copy of the most recent annual statement of assets and
liabilities of the fund in which the Plan has an investment with
the Department of Labor. The Employer Identification Number of the fund is
31-1048957.
F-16
<PAGE>
<TABLE>
<CAPTION>
EIN: 31-0838189 SCHEDULE I
Plan Number 003 Page 5 of 5
STAR BANC CORPORATION
THRIFT SAVINGS 401(K) PLAN
THE STELLAR FUND
ITEM 27(a) - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
AS OF DECEMBER 31, 1993
Shares/ Market
Identity of Issuer/Asset Description Par Value Cost Value
<S> <C> <C> <C>
Star Bank, N.A., Stellar Fund 131,114 $ 1,408,660 $ 1,516,983
Participant Loans, interest at 7.0% to 9.5% - $ 2,966 $ 2,966
</TABLE>
F-17
<PAGE>
<TABLE>
EIN: 31-0838189 SCHEDULE II
Plan Number 003
STAR BANC CORPORATION
THRIFT SAVINGS 401(K) PLAN
ITEM 27(d) - SCHEDULE OF REPORTABLE TRANSACTIONS
FOR THE YEAR ENDED DECEMBER 31, 1993
Current
Value
Number Number Aggregate Aggregate Cost of of Asset on Net
of of Purchase Selling Assets Transaction Gain
Description of Asset Purchases Sales Price Price Sold Date or (Loss)
<S> <C> <C> <C> <C> <C> <C> <C>
COMMON STOCK OF STAR BANC
CORPORATION 48 5 $ 3,269,757 $ 466,816 $ 302,937 (A) $ 163,879
STAR PRIME OBLIGATIONS FUND 453 334 9,458,593 9,530,925 9,530,925 (A) -
STAR BANK, N.A., STABLE ASSET
FUND 36 9 917,764 1,545,992 1,545,992 (A) -
</TABLE>
(A) The current value of all assets acquired or disposed of, at
the time of acquisition or disposition,
is equal to the purchase price or selling price,
respectively.
F-18
<PAGE>
EXHIBIT 23
CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
As independent public accountants, we hereby consent to the
incorporation by reference of our report included in this Form
11-K, into the Company's previously filed Registration
Statement File No. 33-24672.
/s/ ARTHUR ANDERSEN & CO.
------------------------
ARTHUR ANDERSEN & CO.
Cincinnati, Ohio, June 27, 1994.
