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F & C BANCSHARES, INC. ANNOUNCES FOURTH QUARTER DIVIDEND AND SPECIAL DIVIDEND

 PORT CHARLOTTE, Fla., July 15 /PRNewswire/ -- F & C Bancshares, Inc. (NASDAQ: FSCC) announced today that the board of directors voted to pay a quarterly cash dividend of $.15 per share for the fourth quarter of 1993. First, second, and third quarter cash dividends of $.15 per share were paid on Nov. 16, 1992, Feb. 15, 1993, and May 10, 1993, respectively. With the current dividend of $.15 per share, the total dividends paid from the earnings of this fiscal year total $.60 per share.
 In addition to the regular quarterly cash dividend, the board also declared a special cash dividend of $.30 per share, giving total dividends for the fiscal year of $.90 per share for an aggregate cash dividend payout of approximately $2,900,803 to the current 3,223,114 shareholders. Both the regular dividend of $.15 per share and the special dividend of $.30 per share will be payable Aug. 16, 1993 to shareholders of record July 30, 1993.
 In an earlier news release also dated July 15, 1993, F & C Bancshares, Inc. reported that consolidated net earnings for the fiscal year ended June 30, 1993, were $4,505,258, or $1.40 per share, compared to net earnings for fiscal year ended June 30, 1992, of $3,615,493, or $1.13 per share, an increase of 24.6 percent.
 Consolidated net earnings for the fourth quarter ended June 30, 1993, were


$1,167,256, or $0.36 per share, compared to net earnings of $1,076,254, or $0.34 per share, for the fourth quarter ended June 30, 1992, an increase of 8.5 percent.
 F & C Bancshares' wholly owned subsidiary, First Federal Savings Bank of Charlotte County, continues to meet and exceed all the fully phased-in capital requirements mandated by the Financial Institutions Reform, Recovery and Enforcement Act of 1989. The Savings Bank is located in southwest Florida and operates seven offices which serve Charlotte and south Sarasota counties.
 -0- 7/15/93
 /CONTACT: Linda A. Labor, corporate secretary of F & C Bancshares, 813-625-9114/
 (FSCC)


CO: F & C Bancshares, Inc. ST: Florida IN: FIN SU: DIV

AW-RC -- FL013 -- 2049 07/15/93 14:05 EDT
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Publication:PR Newswire
Date:Jul 15, 1993
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