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F&M NATIONAL CORPORATION REPORTS 17.2 PERCENT INCREASE IN FIRST QUARTER INCOME

 WINCHESTER, Va., April 8 /PRNewswire/ -- Net income for the first quarter of 1993 for F&M National Corporation (NASDAQ-NMS: FMNT) was $4.00 million, or 34 cents per share, compared to $3.42 million, or 32 cents per share, for the first quarter of 1992.
 Return on average assets for the first three-month period was 1.44 percent and return on average equity was 13.9 percent for the same period.
 Total assets as of March 31 were $1.127 billion up from $991.926 million as of March 31 of last year. Over the past 12 months, deposits rose from $874.82 million to $982.72 million. Loans increased to $629.51 million from $598.84 million over the same period.
 F&M National Corporation has eight bank affiliates. The Virginia banks are: F&M Bank-Winchester, Winchester; F&M Bank-Broadway, Broadway; F&M Bank-Central Virginia, Charlottesville; F&M Bank- Massanutten, Harrisonburg, and F&M Bank-Richmond, Richmond. The West Virginia banks are: F&M Bank-Blakeley, Ranson; F&M Bank-Keyser, Keyser; and F&M Bank-Martinsburg, Martinsburg.
 -0- 4/8/93
 /CONTACT: Miles R. Orndorff Jr., public relations director, F&M National Corporation, 703-665-4200/
 (FNMT)


CO: F&M National Corporation ST: Virginia IN: FIN SU: ERN

MH-TW -- DC005 -- 4115 04/08/93 09:41 EDT
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Publication:PR Newswire
Date:Apr 8, 1993
Words:213
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