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BANDO McGLOCKLIN REPORTS FIRST-QUARTER RESULTS; ANNOUNCES UNDERWRITING AGREEMENT

 BROOKFIELD, Wis., Oct. 14 /PRNewswire/ -- Bando McGlocklin Capital Corporation (NASDAQ: BMCC) today announced continued growth in loans and income during its first quarter ended Sept. 30, 1993.
 Total loans to small businesses rose to a record $102,166,622, up 19.6 percent from the same period a year earlier of $85,406,459.
 Net interest income for the quarter grew to $1,294,890, an increase of 69.2 percent over the $765,225 for the quarter a year earlier.
 Net operating income soared to $959,301 from $548,678 a year earlier, a 74.8-percent increase. Net operating income per share increased 25 percent to reach 25 cents per share based on 3,831,576 weighted average shares outstanding, compared to 20 cents per share based on 2,747,848 weighted average shares outstanding during the same period in fiscal 1993. The firm issued 1,081,325 shares of common stock a year ago on Oct. 14, 1992.
 The company also announced that it has signed an underwriting agreement for the public offering of 690,000 newly issued shares of Adjustable Rate Cumulative Preferred Stock, Series A, at an initial offering price of $25 per share. The initial dividend rate on the Preferred Stock is 7-5/8 percent. It is anticipated that the offering will be closed on Oct. 20, 1993.
 The board of directors is scheduled to meet next week to determine the dividend to be declared on the common stock for the quarter.
 BANDO McGLOCKLIN CAPITAL CORPORATION
 CONDENSED COMPARATIVE FINANCIAL DATA
 As of Sept. 30, 1993 1992
 Total loans $102,166,622 $85,406,459
 Total assets 108,182,890 91,097,989
 Three months ended Sept. 30
 Net interest income $1,294,890 $765,225
 Salaries & employee benefits 214,834 165,203
 Other operating expenses 207,878 133,938
 Total operating expenses 422,712 299,141
 Net operating income $959,301 $548,678
 Net operating income per share .25 .20
 Weighted shares outstanding 3,831,576 2,747,848
 In announcing third-quarter results, Chairman and Chief Executive Officer George R. Schonath said, "We're delighted to report that earnings per share continue at the 25 cents per share level for the first quarter. The outlook is to maintain or exceed that level of profitability throughout fiscal 1994."
 Founded in 1980, Bando McGlocklin Capital Corporation and its subsidiary, Bando McGlocklin Small Business Investment Corporation, provide long-term secured loans to finance the growth, expansion and modernization of small businesses in Wisconsin and the Midwest.
 -0- 10/14/93
 /NOTE TO EDITORS: For a copy of the prospectus relating to the Preferred Stock, contact Robert W. Baird & Co. Incorporated, 777 E. Wisconsin Ave., Milwaukee, WI 53202, or Stifel, Nicolaus & Company Incorporated, 500 N. Broadway, St. Louis, MO 63102/
 /CONTACT: Cynthia Garland of Garland Public Relations, 414-238-1788, for Bando McGlocklin Capital Corporation/
 (BMCC)


CO: Bando McGlocklin Capital Corporation ST: Wisconsin IN: FIN SU: ERN

KE-JG -- DE023 -- 2239 10/14/93 12:32 EDT
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Publication:PR Newswire
Date:Oct 14, 1993
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