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CITIZENS NATIONAL CORPORATION ANNOUNCES RESULTS

 NAPLES, Fla., Jan. 12 /PRNewswire/ -- Citizens National corporation (NASDAQ-NMS: CNCN) and its wholly owned subsidiary, Citizens National Bank of Naples, announces record earnings for fiscal 1992.
 1992 net income of $3,005,212 reflects a $388,983 increase, or 15 percent over the $2,616,229 earned in 1991. Weighted average earnings per common share for 1992 were $1.47 compared to $1.41 in 1991, even after accounting for the 1.1 for 1 exchange for Citizens National Corporation stock on May 1, 1992.
 On Jan. 4, 1993, the corporation paid a 22.5 cent semiannual cash dividend. This was a 5 cent per share, or 29 percent, increase over the 17.5 cent per share dividend paid in July, 1992. The continuation of excellent profits has permitted the board of directors to increase cash dividend yields. Total 1992 cash dividends were 40 cents, compared to 35 cents in 1991.
 Since Citizens National Corporation's common stock began trading on the NASDAQ/National Market System in November, over 129,000 shares have been traded through year-end.
 Citizens National Bank has purchased an outparcel at the Crossroads Market Shopping Center, currently under construction on Pine Ridge Road and Vineyards Boulevard. The bank submitted a branch application with the comptroller of the currency on Jan. 11, 1993. The bank plans to open this branch by October, 1993. Citizens National Bank operates six branches in Collier County, and is the largest independent commercial bank in Southwest Florida. Total assets grew $44,016,173 in 1992, to $276,378,447, a 19 percent increase over the previous year.
 -0- 1/12/93
 /CONTACT: Sandra J. Brown of Citizens National Corporation, 813-261-5522/
 (CNCN)


CO: Citizens National Corporation ST: Florida IN: FIN SU: ERN

JB-CM -- FL003 -- 3828 01/12/93 08:20 EST
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Publication:PR Newswire
Date:Jan 12, 1993
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