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BT FINANCIAL CORPORATION ISSUES EARNINGS

 JOHNSTOWN, Pa., Jan. 28 /PRNewswire/ -- BT Financial Corporation (NASDAQ: BTFC) said today its fourth quarter financial results reflect continued excellent performance.
 Its focus on customer satisfaction and its sales and market-driven approach to community banking have contributed to dramatic increases in shareholder value.
 This increase is most evident in the gain in market value of BT Financial Corporation's common stock. At year-end BT Financial Corporation's stock price closed at $25.50, an increase of 31.6 percent over the Dec. 31, 1991, price of $19.375 and 85.5 percent over the Dec. 31, 1990, price of $13.75. During the same period, the book value increased from $20.13 to $21.76 to $22.52. Viewed from another perspective, total shareholders' equity increased from $60,150,000 at Dec. 31, 1990, to $65,019,000 at Dec. 31, 1991, to $70,650,000 at year-end 1992. BT Financial Corporation said it is most proud of its capital strength, which has resulted from its ongoing excellent earnings and a well-planned and fair dividend policy. It should serve well in enabling BT Financial Corporation to continue its franchise expansion throughout western Pennsylvania.
 Consolidated net income for the year was $8,591,000 or $2.74 per share, a 14.1 percent increase over the $7,528,000 or $2.40 per share earned the previous year. Net income for the fourth quarter was $2,143,000 or $.68 per share, increased $15,294,000 or 1.7 percent to $906,948,000; deposits were up $27,262,000 or 3.5 percent to $809,023,000; and net loans rose $12,859,000, or 2.3 percent to $561,112,000.
 To improve the quality of BT Financial Corporation's operations and to garner financial efficiencies, management retained a consulting group headquartered in Blue Anchor, N.J., to exhaustively analyze their internal operating procedures. Firm Direction in Banking, or FDIB, has recommended and subsequently implemented changes in such areas as cash management, computer input, cash letter preparation, service charge assessment and account analysis. This effort complements management's ongoing efforts to control operating costs and to maximize non-interest income.
 BT Financial Corporation said it continues to work diligently to produce good clean assets, maintain net interest margin and have adequate reserves against unknown losses. Its loan portfolio is in good condition. However, as a result of recent acquisitions and increased loan volume, the reserve for possible loan losses during the fourth quarter was increased $276,000 and for the year $953,000, or 1.07 percent of total loans. In relation to BT Financial Corporation's peer group, the non-performing loans remain low at .60 percent. These actions are in line with the philosophy of creating a safe and sound environment for its customers, shareholders and employees.
 In December, the remodeling of the Davidsville, Pa., community banking office was completed. This beautifully expanded office features a larger lobby, a two-lane drive-up featuring an ATM, and a totally new exterior. BT Financial Corporation said it is very proud to be a part of the Davidsville community and it feels this investment reflects that commitment.
 Also during the fourth quarter, construction commenced on Johnstown Bank and Trust's 39th community office located on Galleria Drive in suburban Johnstown. This office will serve the area's newest shopping complex as well as the surrounding neighborhoods. BT Financial Corporation said it considers this project to be another example of its forward-looking regional banking focus.
 The board of directors of BT Financial Corporation, on Jan. 27, 1993, declared a cash dividend of $.26 per share to shareholders of record on Feb. 12, 1993, payable March 1, 1993.
 BT Financial Corporation's financial statements and achievements for 1992 will be detailed in its annual report, which will be completed and mailed in the near future.
 BT Financial Corporation is a bank holding company, with assets of $900 million, headquartered in Johnstown. Banking affiliates include Johnstown Bank and Trust Company, Johnstown; Laurel Bank, Ebensburg, Pa.; and Fayette Bank and Trust Company, Uniontown, Pa. Together they comprise a total of 55 offices serving Cambria, Somerset, Bedford, Blair, Indiana, Westmoreland, Fayette, Butler, Armstrong and Allegheny counties. BT Financial Corporation's other affiliates are BT Management Trust Company, a Pennsylvania state-chartered trust company, and Bedford Associates, Inc., a real estate company.
 BT FINANCIAL CORPORATION AND AFFILIATES
 Consolidated Balance Sheet
 Dec. 31, 1992
 (In thousands, except shares and per share data)
 Period Ended 12/31/92 12/31/91
 Assets
 Cash and due from banks 48,060 42,287
 Investment securities 219,800 186,736
 Int. bearing deposits with banks 24,407 30,250
 Federal funds sold 19,150 51,050
 Net loans 561,112 548,253
 Premises and equipment 19,726 17,685
 Other assets 14,693 15,393
 Total assets 906,948 891,654
 Liabilities
 Deposits 809,023 781,761
 Fed funds purchased & securities
 sold under agreement to
 repurchase 8,912 20,291
 Other liabilities 10,363 14,143
 Capital notes 8,000 10,440
 Total liabilities 836,298 826,635
 Shareholders' equity
 Common stock 15,684 15,684
 Capital surplus 16,440 16,440
 Retained earnings 38,526 32,895
 Total shareholders' equity 70,650 65,019
 Total liabilities and
 shareholders' equity 906,948 891,654
 Book value per share 22.52 20.73
 Number of shares outstanding 3,136,862 3,136,862
 BT FINANCIAL CORPORATION AND AFFILIATES
 Consolidated Statement of Income
 Dec. 31, 1992
 (In thousands, except shares and per share data)
 Period Ended Three Months Year
 12/31/92 12/31/91 12/31/92 12/31/91
 Interest income 17,293 18,863 70,311 71,305
 Interest expense 6,602 9,142 29,136 36,457
 Net interest income 10,691 9,721 41,175 34,848
 Provision for loan losses 848 583 2,858 1,414
 Net interest income after
 provision for loan
 losses 9,843 9,138 38,317 33,434
 Other income 1,430 1,353 5,616 5,079
 Other expenses 8,183 7,607 31,810 28,478
 Income before income
 taxes 3,090 2,884 12,123 10,035
 Provision for income tax 951 749 3,532 2,507
 Net income 2,139 2,135 8,591 7,528
 Per share data:
 Net income 0.68 0.68 2.74 2.40
 Cash dividends declared 0.25 0.22 0.95 0.85
 Weighted average number
 of shares
 outstanding 3,136,862 3,136,862 3,136,862 3,136,862
 Note: All common share and per share data has been restated to reflect the 5 percent stock dividend distributed Sept. 1, 1992.
 -0- 1/28/93
 /CONTACT: Gerald W. Swatsworth, chairman and chief executive officer of BT Financial Corporation, 814-532-3801/
 (BTFC)


CO: BT Financial Corporation ST: Pennsylvania IN: FIN SU: ERN

CD-DD -- PG002 -- 0187 01/28/93 11:08 EST
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