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F & C BANCSHARES, INC. REPORTS INCREASED EARNINGS FOR FISCAL YEAR 1993

 PORT CHARLOTTE, Fla., July 15 /PRNewswire/ -- F & C Bancshares, Inc. (NASDAQ: FSCC) today 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.
 Total assets as of June 30, 1993, were $412,587,884 compared to total assets of $429,000,761 at June 30, 1992, a decrease of $16,412,877, or 3.8 percent. Deposits decreased $19,732,394, or 5.2 percent, from $383,037,652 to $363,305,258. With 3,223,114 shares of common stock outstanding on June 30, 1993, stockholders' equity of $45,205,777 represents an approximate book value of $14.03 per share.
 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, Inc., 813-625-9114/
 (FSCC)


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

AW-RC -- FL012 -- 2005 07/15/93 13:14 EDT
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Publication:PR Newswire
Date:Jul 15, 1993
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