SOUTHEAST BANCORP <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.