ALERT 99-1
Type: Suspicious Transactions
Subject: Counterfeit Cashier's Checks         
Date: January 15, 1999

TO:  Chief Executive Officers of all National Banks; all State
     Banking Authorities; Chairman, Board of Governors of the
     Federal Reserve System; Chairman, Federal Deposit Insurance
     Corporation; Conference of State Bank Supervisors; Deputy
     Comptrollers (Districts); Assistant Deputy Comptrollers;
     District Counsel and Examining Personnel.

RE:  Counterfeit Cashier's Checks

     Information has recently been received that counterfeit
     cashier's checks drawn on the First National Bank Southeast,
     Reidsville, North Carolina are in circulation.  A copy of a
     counterfeit instrument is attached.  Please note that the
     bank's legitimate cashier's checks do not have the following
     statement printed on them: "THIS DOCUMENT HAS A COLORED
     BACKGROUND & MICROPRINTING.  THE REVERSE SIDE OF THIS
     DOCUMENT HAS AN ARTIFICIAL WATERMARK."

     The bank has requested that Karen Lewis, assistant vice
     president, Security, telephone (336) 342-3346 (extension
     247), fax (336) 349-8035 be contacted about this matter. 
     Any information that you may have concerning this matter
     should also be brought to the attention of:

                         Office of the Comptroller of the
                         Currency
                         Enforcement & Compliance Division
                         250 E Street, SW
                         Washington, DC   20219
                         Fax (202) 874-5301


     _________________________
     Daniel P. Stipano
     Director
     Enforcement & Compliance Division

     Attachment