<PAGE> PAGE 1
000 B000000 07/31/97
000 C000000 0000906468
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 THE PLANTERS FUNDS
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001 C000000 4122888260
002 A000000 FEDERATED INVESTORS TOWER
002 B000000 PITTSBURGH
002 C000000 PA
002 D010000 15222
002 D020000 3779
003 000000 N
004 000000 N
005 000000 N
006 000000 N
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007 C010100 1
007 C020100 TENNESSEE TAX-FREE BOND FUND
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007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 UNION PLANTERS NATIONAL BANK
008 B00AA01 A
008 C00AA01 801-0000
008 D01AA01 MEMPHIS
008 D02AA01 TN
008 D03AA01 38147
010 A00AA01 FEDERATED SERVICES COMPANY
010 C01AA01 PITTSBURGH
010 C02AA01 PA
010 C03AA01 15222
010 C04AA01 3779
011 A00AA01 FEDERATED SECURITIES CORP.
011 B00AA01 8-15561
011 C01AA01 PITTSBURGH
011 C02AA01 PA
011 C03AA01 15222
<PAGE> PAGE 2
011 C04AA01 3779
012 A00AA01 FEDERATED SHAREHOLDER SERVICES COMPANY
012 B00AA01 84-1869
012 C01AA01 PITTSBURGH
012 C02AA01 PA
012 C03AA01 15222
012 C04AA01 3779
013 A00AA01 PRICE WATERHOUSE LLP
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02110
015 A00AA01 STATE STREET BANK AND TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02266
015 C04AA01 8600
015 E01AA01 X
015 A00AA02 BANKERS TRUST COMPANY
015 B00AA02 S
015 C01AA02 NEW YORK
015 C02AA02 NY
015 C03AA02 10015
015 E01AA02 X
015 A00AA03 BANK OF NEW YORK
015 B00AA03 S
015 C01AA03 NEW YORK
015 C02AA03 NY
015 C03AA03 10006
015 E01AA03 X
015 A00AA04 THE CHASE MANHATTAN CORPORATION
015 B00AA04 S
015 C01AA04 NEW YORK
015 C02AA04 NY
015 C03AA04 10006
015 E01AA04 X
015 A00AA05 MORGAN GUARANTY BANK & TRUST COMPANY
015 B00AA05 S
015 C01AA05 NEW YORK
015 C02AA05 NY
015 C03AA05 10015
015 E01AA05 X
015 A00AA06 NATIONSBANK OF NORTH CAROLINA
015 B00AA06 S
015 C01AA06 CHARLOTTE
015 C02AA06 NC
015 C03AA06 28255
015 E01AA06 X
015 A00AA07 PNC BANK, NA
015 B00AA07 S
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<PAGE> PAGE 3
015 C02AA07 PA
015 C03AA07 15265
015 E01AA07 X
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022 C000001 1098
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022 A000002 FIRST TENNESSEE BANK, N.A.
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022 D000002 1808
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 B00AA00 THE AETNA CASUALTY AND SURETY COMPANY
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SIGNATURE S. ELLIOTT COHAN
TITLE ASST. GEN. COUNSEL
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 01
<NAME> The Planters Funds
Tennessee Tax-Free Bond Fund
<PERIOD-TYPE> 12-Mos
<FISCAL-YEAR-END> Jul-31-1997
<PERIOD-END> Jul-31-1997
<INVESTMENTS-AT-COST> 24,638,472
<INVESTMENTS-AT-VALUE> 25,469,307
<RECEIVABLES> 392,777
<ASSETS-OTHER> 22,094
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 25,884,178
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<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 34,928
<TOTAL-LIABILITIES> 34,928
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 25,080,622
<SHARES-COMMON-STOCK> 2,369,821
<SHARES-COMMON-PRIOR> 2,814,322
<ACCUMULATED-NII-CURRENT> 74,852
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (137,059)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 830,835
<NET-ASSETS> 25,849,250
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,488,966
<OTHER-INCOME> 0
<EXPENSES-NET> 307,071
<NET-INVESTMENT-INCOME> 1,181,895
<REALIZED-GAINS-CURRENT> 67,723
<APPREC-INCREASE-CURRENT> 884,764
<NET-CHANGE-FROM-OPS> 2,134,382
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,214,918
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 132,996
<NUMBER-OF-SHARES-REDEEMED> 587,888
<SHARES-REINVESTED> 10,391
<NET-CHANGE-IN-ASSETS> (3,818,550)
<ACCUMULATED-NII-PRIOR> 107,875
<ACCUMULATED-GAINS-PRIOR> (204,782)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 209,558
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 516,629
<AVERAGE-NET-ASSETS> 27,889,438
<PER-SHARE-NAV-BEGIN> 10.540
<PER-SHARE-NII> 0.450
<PER-SHARE-GAIN-APPREC> 0.380
<PER-SHARE-DIVIDEND> 0.460
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.910
<EXPENSE-RATIO> 1.10
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
