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FIRST COMMERCIAL BANCSHARES, INC. ANNOUNCES RECORD EARNINGS

 FIRST COMMERCIAL BANCSHARES, INC. ANNOUNCES RECORD EARNINGS
 JASPER, Ala., Jan. 16 /PRNewswire/ -- First Commercial Bancshares, Inc. (NASDAQ-NMS: FSCB) today announced earnings per common and dilutive common equivalent share of $0.47 (unaudited) for the quarter ended Dec. 31, 1991, representing an increase of 11.90 percent over earnings of $.42 per share for the quarter ended 1990.
 Earnings per common and dilutive common equivalent share for 1991 was $1.84 compared to $1.70 in 1990 for an 8.24 percent increase. Earnings for 1991 were $8.0 million compared to $7.5 million in 1990, a 7.53 percent increase.
 The company's total assets on Dec. 31, 1991 were $865.6 million up from $819.3 million at Dec. 31, 1990, representing an increase of 5.66 percent. Total stockholder's equity at Dec. 31, 1991 was $76.5 million or $17.68 on a per share basis.
 John T. Oliver Jr., chairman of the board and chief executive officer stated that: "We are very proud of our earnings considering that this was accomplished despite pre tax non-recurring charges to earnings totaling $385,000 during 1991 for the Hunstville subsidiary. These one-time charges associated with repositioning the Huntsville bank will allow the bank to take advantage of the rapidly growing Huntsville economy in the future. We are also pleased to report that non performing assets as a percentage of loans net of unearned income dropped for the second quarter in a row to 1.71 percent at Dec. 31, 1991. Our ratio of the allowance for loan losses to loans remained strong at 1.50 percent."
 First Commercial Bancshares, Inc. merged with Citizens Independent Bancorp, a one bank holding company owning all the stock of Citizens Independent Bank (now First Commercial Bank of Hunstville). The merger, which took place on March 4, 1991 was accounted for as a pooling of interest, and accordingly all historical information has been restated.
 First Commercial Bancshares, Inc. has five banking subsidiaries: First National Bank of Jasper (Jasper), First Commercial Bank of Birmingham (Birmingham), The Bank of Tuscaloosa (Tuscaloosa), Sterling Bank (Montgomery), and First Commercial Bank of Hunstville (Hunstville).
 FIRST COMMERCIAL BANCSHARES INC.
 (In Thousands Except Per Share Data)
 Quarter Quarter
 to date to date Year-to-date
 12/31/91 9/30/91 12/31/91
 Income statement information
 Interest income $ 18,634 $ 18,930 $ 75,449
 Interest expense 9,914 10,291 41,921
 Net interest income 8,720 8,639 33,528
 Loan loss provision 1,538 1,353 5,400
 Net after loan loss provision 7,182 7,286 28,128
 Non interest income 1,875 1,807 6,955
 Non interest expense 6,141 5,913 23,543
 Pre-tax income 2,916 3,180 11,540
 Provision for income taxes 850 1,007 3,513
 Net income $ 2,066 $ 2,173 $ 8,027
 Primary earnings per share $ 0.47 $ 0.50 $ 1.84
 Dividends per share 0.18 0.17 0.69
 Net charge-offs 1,273 1,162 4,500
 Net charge off to average loans
 annualized 0.91 pct. 0.84 pct. 0.84pct.
 Return on average assets 0.95 pct. 1.02 pct. 0.95pct.
 Return on average equity 10.76 pct. 11.55 pct. 10.84pct.
 Margin 4.19 pct. 4.28 pct. 4.19pct.
 Net non-interest expense
 to average assets 1.95 pct. 1.93 pct. 1.97pct.
 Quarter Quarter
 to date to date Year-to-date
 12/31/90 9/30/90 12/31/90
 Income statement information
 Interest income $ 19,950 $ 19,365 $ 75,920
 Interest expense 11,880 11,509 45,112
 Net interest income 8,070 7,856 30,808
 Loan loss provision 1,702 1,060 5,003
 Net after loan loss provision 6,368 6,796 25,805
 Non interest income 1,400 1,436 5,527
 Non interest expense 5,202 5,255 20,730
 Pre-tax income 2,566 2,977 10,602
 Provision for income taxes 752 912 3,137
 Net income $ 1,814 $ 2,065 $ 7,465
 Primary earnings per share $ 0.41 $ 0.47 $ 1.70
 Dividends per share 0.17 0.16 0.65
 Net charge-offs 1,586 530 3,498
 Net charge off to average loans
 annualized 1.20 pct. 0.40 pct. 0.69pct.
 Return on average assets 0.88 pct. 1.04 pct. 0.96pct.
 Return on average equity 10.12 pct. 11.71 pct. 10.78pct.
 Margin 4.16 pct. 4.22 pct. 4.23pct.
 Net non-interest expense
 to average assets 1.84 pct. 1.93 pct. 1.96pct.
 FIRST COMMERCIAL BANCSHARES INC.
 (In Thousands Except Per Share Data)
 Quarter Quarter
 to date to date Year-to-date
 12/31/91 9/30/91 12/31/91
 Average balance sheet information
 Loans, net 557,619 545,866 538,481
 Earning assets 825,876 801,291 799,254
 Assets 867,032 842,431 840,923
 Deposits 746,606 628,970 723,760
 Stockholders' equity 76,199 74,634 74,071
 End of period balance sheet information
 Loans, net 563,999 547,255 ---
 Allowance for loan losses 8,478 8,213 ---
 Earning assets 811,495 818,177 ---
 Assets 865,649 862,481 ---
 Deposits 743,751 749,880 ---
 Stockholders' equity 76,451 75,011 ---
 Book value $17.68 $17.37 ---
 Non performing assets 9,671 9,468 ---
 Non performing assets to loans,
 net 1.71 pct. 1.73 pct. ---
 Allowance for loan losses to
 loans, net 1.50 pct. 1.50 pct. ---
 Quarter Quarter
 to date to date Year-to-date
 12/31/90 9/30/90 12/31/90
 Average balance sheet information
 Loans, net 523,058 527,883 510,517
 Earning assets 770,400 738,814 728,868
 Assets 817,811 785,245 775,504
 Deposits 599,057 577,381 566,699
 Stockholders' equity 71,150 69,952 69,242
 End of period balance sheet information
 Loans, net 520,385 524,080 ---
 Allowance for loan losses 7,579 7,608 ---
 Earning assets 765,231 749,865 ---
 Assets 819,263 802,578 ---
 Deposits 713,866 692,818 ---
 Stockholders' equity 71,267 69,992 ---
 Book value $16.56 $16.27 ---
 Non performing assets 8,255 8,115 ---
 Non performing assets to loans,
 net 1.59 pct. 1.55 pct. ---
 Allowance for loan losses to
 loans, net 1.46 pct. 1.45 pct. ---
 -0- 1/16/92
 /CONTACT: Robert M. Couch of First Commercial Bancshares, 205-868-4818/
 (FSCB) CO: First Commercial Bancshares, Inc. ST: Alabama IN: FIN SU: ERN


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Date:Jan 16, 1992
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