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NATIONAL CITY CORPORATION REPORTS FIRST QUARTER EARNINGS

 NATIONAL CITY CORPORATION REPORTS FIRST QUARTER EARNINGS
 CLEVELAND, April 13 /PRNewswire/ -- National City Corporation (NYSE: NCC) today reported earnings for the first quarter.
 Net income for the three months ended March 31, 1992 was $69.0 million, or $1.06 per common share, compared with $51.4 million, or $.85 per common share, for the same quarter of 1991.
 Returns on average common equity and average assets for the first quarter were 15.05 percent and 1.19 percent, respectively.
 The improvement in earnings from a year ago was due primarily to a decline in the provision for loan losses, to $33.6 million from $55.8 million in 1991. Net interest income increased from a year ago due to better interest margins offset somewhat by a decline in average earning assets. Fee income increased by 18 percent and non-interest expenses increased 10 percent during the first quarter compared with the same quarter a year ago. The increase in non-interest expenses reflected higher FDIC costs and expenses of foreclosed real estate. Compared to the fourth quarter of 1991, however, non-interest expenses were up approximately 1 percent.
 Total assets at March 31, 1992 were $23.4 billion; stockholders' equity was $2.0 billion. The Corporation's equity capital as a percentage of assets rose to 8.42 percent at March 31, 1992, compared with 6.80 percent a year ago. Loans were $15.6 billion and total deposits were $18.1 billion. The allowance for loan losses as a percentage of loans increased to 1.99 percent at March 31, 1992 compared with 1.94 percent at Dec. 31, 1991 and 1.67 percent a year ago.
 First quarter nonperforming assets were $368 million, down from $408 million at year-end 1991 and $468 million at the end of the first quarter of 1991. The decrease reflected continued sale of properties through National City's real estate workout group along with stable to improving credit quality in the remaining real estate portfolio, and the sale of a large commercial loan.
 After-tax security gains were $.08 per share in the first quarter of 1992 compared with $.12 per share in the fourth quarter of 1991 and $.06 for the quarter ending March 31, 1991.
 National City Corporation is a $23 billion diversified financial service company headquartered in Cleveland, Ohio. National City operates banks and other financial service subsidiaries principally in Ohio, Kentucky and southern Indiana. The recently announced merger with Merchants National Corporation of Indianapolis is expected to close in early May, subject to stockholder approval.
 NATIONAL CITY CORPORATION
 FINANCIAL HIGHLIGHTS
 (Dollars in Thousands Except Per Share Amounts)
 Percent
 1992 1991 Change
 FOR THE FIRST QUARTER:
 Net Income $ 69,017 $ 51,384 34 pct
 Preferred Dividend Requirements 4,000 -- --
 Net Income Applicable
 to Common Stock 65,017 51,384 27
 Net Income Per Share 1.06 .85 25
 Dividends Paid Per Common Share .47 .47 --
 Avg. Common Shares Outstanding 61,290,425 60,504,829
 Return on Avg. Common Equity 15.05 pct 12.80 pct
 Return on Avg. Assets 1.19 .87
 AT MARCH 31:
 Assets $23,420,176 $24,234,038 (3) pct
 Loans 15,592,130 16,330,355 (5)
 Deposits 18,088,832 18,412,089 (2)
 Stockholders' Equity 1,971,249 1,648,770 20
 Common Shares Outstanding 60,895,202 60,659,036
 Book Value Per Common Share $29.09 $27.18 7
 Market Value Per Common Share 40.88 34.50 18
 -0- 4/13/92 R
 /CONTACT: Thomas A. Richlovsky, senior vice president and treasurer, 216-575-2126; or Janis E. Lyons, vice president, investor relations, 216-575-3329; both of National City Corporation/
 (NCC) CO: National City Corporation ST: Ohio IN: FIN SU: ERN


KK -- CL004 -- 7675 04/13/92 10:54 EDT
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Date:Apr 13, 1992
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