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NBSC CORPORATION ANNOUNCES 1992 EARNINGS

 SUMTER, S.C., Jan. 26 /PRNewswire/ -- Robert V. Royall, Jr., chairman and chief executive officer of NBSC Corporation (NBSC) (NASDAQ-NMS: NSCB) and its subsidiary, The National Bank of South Carolina, announced today that NBSC had net income of $5.509 million, or $1.45 per share, in 1992, an increase of 62.5 percent over 1991 net income of $3.390 million, or $0.92 per share. Those results reflect the combined operations of NBSC and First Trident Savings and Loan Corporation (Trident), which was acquired by NBSC on Dec. 21, 1992, in a transaction which was accounted for as a pooling of interests.
 Net income for the fourth quarter, ended Dec. 31, 1992, was $1.212 million, or $0.32 per share, compared to $731 thousand, $0.20 per share, in the fourth quarter of 1991, an increase of 65.8 percent.
 Royall said, "The significant improvement in NBSC's fundamental earnings clearly reflects the restructuring which the Company has undertaken over the past two years. We are planning another record performance year in 1993 and are excited about continuing to expand the Bank's presence in key South Carolina markets."
 Royall said that the improved NBSC earnings resulted from a number of factors, including increased levels of net interest income. He said that while an accounting change added $413 thousand to first quarter, 1992 net income, the one-time costs associated with the Trident merger offset that amount so that reported net income for the year reflects a core earnings level.
 The Corporation's total assets, including Trident, were $721.840 million at Dec. 31, 1992, compared to $577.342 million reported a year earlier, which did not include Trident. Total deposits, including Trident, were $639.154 million at year end, compared to $521.635 million for NBSC, not including Trident, a year earlier. Total assets and total deposits grew 8.0 percent and 5.7 percent, respectively, over the combined NBSC and Trident amounts from a year ago. These growth rates were negatively impacted by Trident's sale of approximately $27 million of deposits prior to the merger with NBSC. Loans outstanding reflected economic conditions and grew only 2.6 percent over the period to $484.728 million. The investment portfolio grew 14.2 percent to $122.739 million. Total shareholders' equity increased 12.8 percent to $53.291 million at year-end 1992.
 Non-performing assets totalled $11.785 million at Dec. 31, 1992. Royall said, "Addressing credit quality remains a management priority, and we will continue to concentrate in 1993 on returning those assets to an earning status." NBSC paid a regular quarterly dividend of $.11 per share on Jan. 2, 1993. On that date, 3,882,814 shares were outstanding. Dividends totalling $0.44 per share were declared during 1992.
 NBSC Corporation's common stock is traded over-the-counter and is quoted under the symbol NSCB on the NASDAQ National Market System. The National Bank of South Carolina presently operates 32 offices in 19 South Carolina communities. The Bank's application to open a branch office on Hilton Head Island recently received preliminary regulatory approval, and it is anticipated that this office will open by the end of the first quarter.
 NBSC CORPORATION
 FINANCIAL HIGHLIGHTS (A)
 (Dollars in thousands, except per share amounts)
 Three Months Ended Twelve Months Ended
 Dec. 31, Dec. 31,
 Pct. Pct.
 1992 1991 Change 1992 1991 Change
 EARNINGS SUMMARY
 Net interest
 income $7,853 $6,712 17.0 $30,037 $26,335 14.1
 Provision for
 loan losses 820 1,027 -20.2 2,776 2,444 13.6
 Non-interest
 income 2,287 2,192 4.3 9,595 9,048 6.0
 Non-interest
 expense 7,267 6,906 5.2 28,978 28,014 3.4
 Income taxes 841 240 250.4 2,782 1,535 81.2
 Net income
 before account-
 ing change 1,212 731 65.8 5,096 3,390 50.3
 Cumulative effect
 of change in
 accounting
 principle(B) 0 0 -- 413 0 --
 Net income 1,212 731 65.8 5,509 3,390 62.5
 Per share data:
 Net income $.32 $.20 60.0 $1.45 $.92 57.6
 Cash dividends
 declared $.11 $.11 -- $0.44 $0.44 --
 Average number
 of shares out-
 standing 3,819,981 3,722,241 2.6 3,799,374 3,692,499 2.9
 Three Months Ended Twelve Months Ended
 Dec. 31, Dec. 31,
 Pct. Pct.
 1992 1991 Change 1992 1991 Change
 BALANCE SHEET
 DATA (DAILY
 AVERAGES)
 Total assets $712,038 $654,737 8.8 $685,861 $647,092 6.0
 Total investment
 securities 122,267 96,685 26.5 114,626 88,200 30.0
 Total loans 479,448 473,296 1.3 479,853 484,502 -1.0
 Total interest-
 earning assets 657,124 606,964 8.3 634,337 598,614 6.0
 Total deposits 628,110 591,419 6.2 603,802 580,132 4.1
 Total interest-
 bearing lia-
 bilities 550,999 528,898 4.2 538,771 511,364 5.4
 Total shareholders'
 equity 51,661 46,433 11.3 50,338 45,466 10.7
 RATIOS (AVERAGES)
 (PERCENT)
 Return on assets 0.68 0.45 -- 0.80 0.52 --
 Return on equity 9.38 6.30 -- 10.94 7.46 --
 Equity to total
 assets 7.26 7.09 -- 7.34 7.03 --
 Net yield on
 interest-earning
 assets, taxable
 equivalent 4.87 4.52 -- 4.86 4.52 --
 SELECTED DATA
 (PERIOD END)
 Total assets $721,840 $668,530 8.0
 Total investment
 securities 122,739 107,519 14.2
 Total loans 484,728 472,523 2.6
 Total interest-
 earning assets 656,991 612,828 7.2
 Total deposits 639,154 604,908 5.7
 Total interest-
 bearing
 liabilities 552,651 529,046 4.5
 Total shareholders'
 equity 53,291 47,255 12.8
 Book value per
 share 13.72 12.48 9.9
 Closing price of
 common stock 20.00 14.50 37.9
 Common shares
 outstanding 3,882,814 3,785,828 2.6
 NON-PERFORMING ASSETS
 Non-accrual loans $8,266 $9,167 -9.8
 Other real estate owned 3,519 2,188 60.8
 Restructured loans 0 203 -100.0
 Total non-performing assets 11,785 11,558 2.0
 ACCRUING LOANS PAST DUE 90 DAYS OR MORE 905 1,224 -26.1
 OTHER INFORMATION
 Shareholders of record 1,573 1,529
 Number of offices 32 30
 Number of S.C. cities served 19 16
 (A) On Dec. 21, 1992, First Trident Savings & Loan Corporation (Trident) was merged into The National Bank of South Carolina, a wholly-owned subsidiary of NBSC Corporation (Corporation), in a transaction accounted for as a pooling-of-interests. For periods prior to 1992, the financial highlights combine Trident's corresponding fiscal year period, which ended June 30, with the Corporation's corresponding calendar year period. For all 1992 periods, the financial highlights are presented on a calendar year basis for both entities.
 (B) Reflects early adoption of Statement of Financial Accounting Standards No. 109, "Accounting for Income Taxes."
 -0- 1/26/93
 /CONTACT: Billy J. Silver, Marketing Director, 803-929-2052, or Charl L. Butler, Chief Financial Officer, 803-929-2062, both of NBSC Corporation/
 (NSCB)


CO: NBSC Corporation; The National Bank of South Carolina; First
 Trident Savings and Loan Corporation ST: South Carolina IN: FIN SU: ERN


MM-CM -- CH002 -- 9041 01/26/93 11:49 EST
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