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F & M NATIONAL CORPORATION REPORTS INCREASED SIX MONTH INCOME

 WINCHESTER, Va., July 13 /PRNewswire/ -- Net income for the first six months of 1993 for F & M National Corporation (NASDAQ-NMS: FMNT) was $8.05 million, or 68 cents per share, compared to $6.78 million, or 64 cents per share for the first six months of 1992.
 Second quarter net income was $4.04 million, or 34 cents per share compared to $3.37 million, or 32 cents per share for the second quarter of 1992.
 Return on average assets for the first six months was 1.43 percent and return on average equity was 13.81 percent.
 Total assets as of June 30 were $1.130 billion, up from $1.002 billion as of June 30 of last year. Over the past 12 months deposits rose from $882.45 million to $987.46 million. Loans increased to $644.58 million from $604.52 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- 7/13/93
 /CONTACT: Miles R. Orndorff Jr., public relations director, F & M National Corporation, 703-665-4200/
 (FMNT)


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

IH-KD -- DC007 -- 0830 07/13/93 10:58 EDT
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Publication:PR Newswire
Date:Jul 13, 1993
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