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NBSC CORPORATION REPORTS INCREASED THIRD QUARTER EARNINGS AND DECLARES QUARTERLY DIVIDEND

 NBSC CORPORATION REPORTS INCREASED THIRD QUARTER EARNINGS
 AND DECLARES QUARTERLY DIVIDEND
 SUMTER, S.C., Oct. 15 /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 earned $1.200 million, or $.37 per share, in the third quarter of 1992, an increase of 19.8 percent over earnings in the third quarter of 1991 of $1.002 million or $.32 per share. Earnings in the current period include the effect of $242 thousand in expenses associated with the proposed merger with Charleston-based First Trident Savings and Loan Corporation (Trident), which should be completed by year end.
 Royall said, "We are making a solid investment in our Company's future. This merger will significantly improve our capital base, which can be leveraged as we continue to expand our market area. The talents of Trident's mortgage lending professionals will also contribute to NBSC's ability to generate higher levels of fee-based income."
 On a 1992 year-to-date basis, NBSC earned $3.645 million, or $1.13 per share, compared to $2.528 million, or $.81 per share, during the first nine months of 1991, an increase of 44.2 percent. Earnings during the first quarter of 1992 were favorably impacted by a one-time accounting change which added $413 thousand, or $.13 per share, to net income.
 Royall said, "The improvement in earnings was driven by solid balance sheet growth, which produced an 11.4 percent increase in net interest income, combined with tight controls on non-interest expenses, which grew only 2.9 percent excluding merger related expenses."
 "That sets the stage for 1993," Royall added, "when we anticipate that the Company will see continued growth, compounded by its recently opened Florence office and its expanded presence in the Charleston market area, including Mt. Pleasant. Expense management and fee income generation will also continue to play key roles in earnings performance."
 Royall said that the Company's updating of its data processing systems, scheduled for completion in the fourth quarter of this year, will significantly improve management information capabilities and favorably impact customer service and product offerings. "This increased capacity will also support our expansion objectives," he said.
 The Corporation's total assets grew 12.5 percent to $633.835 million at September 30, 1992, compared with $563.335 million a year earlier. Total deposits grew 13.3 percent over this period to $575.175 million. Non-interest bearing demand deposits grew 31.6 percent to $91.957 million. Loans outstanding reflected economic conditions in NBSC's markets, growing 4.1 percent to $426.605 million. The investment portfolio was increased 43.6 percent to $109.825 million. Total shareholders' equity increased 10.8 percent to $43.000 million at September 30, 1992, from $38.801 million a year earlier.
 Non-performing assets at September 30, 1992, were $9.383 million, compared to $9.219 million a year earlier. Loans past due 90 days or more and still accruing were $455 thousand, compared to $498 thousand a year earlier. Credit quality continues to be an area where management attention is focussed.
 Yesterday, NBSC's Board of Directors approved a regular quarterly dividend of $.11 per share payable on January 2, 1993, to shareholders of record as of December 21, 1992. NBSC paid a regular quarterly dividend of $.11 per share on October 1, 1992. On that date, 3,245,448 shares were outstanding.
 NBSC Corporation's common stock is traded over-the-counter and is quoted under the symbol NSCB on the NASDAQ National Market System.
 NBSC's primary subsidiary, The National Bank of South Carolina, presently operates 29 offices in 17 South Carolina communities. The Bank's Florence office opened September 23, 1992. Also, the Bank's application to open a branch office in the city of Mt. Pleasant recently received preliminary regulatory approval, and it is anticipated that this office will open by the end of the fourth quarter.
 NBSC CORPORATION
 FINANCIAL HIGHLIGHTS
 (Dollars in thousands, except per share amounts)
 Three Months Ended Nine Months Ended
 September 30, September 30,
 Pct. Pct.
 1992 1991 Change 1992 1991 Change
 EARNINGS SUMMARY
 Net interest
 income $6,888 $6,113 12.7 $19,994 $17,948 11.4
 Provision for loan
 losses 360 323 11.5 1,823 1,258 44.9
 Non-interest
 income 2,084 2,051 1.6 6,651 6,249 6.4
 Non-interest
 expense 6,740 6,387 5.5 20,071 19,273 4.1
 Income taxes 672 452 48.7 1,519 1,138 33.5
 Net income before
 accounting
 change 1,200 1,002 19.8 3,232 2,528 27.8
 Cumulative effect
 of change in
 accounting
 principle (A) 0 0 - 413 0 -
 Net income 1,200 1,002 19.8 3,645 2,528 44.2
 Per share data:
 Net income $ .37 $ .32 15.6 $1.13 $ .81 39.5
 Cash dividends
 declared $ .11 $ .11 - $ .33 $ .33 -
 Average number
 of shares
 outstanding 3,262,013 3,130,839 4.2 3,234,663 3,127,596 3.4
 Three Months Ended Nine Months Ended
 September 30, September 30,
 Pct. Pct.
 1992 1991 Change 1992 1991 Change
 BALANCE SHEET DATA
 (DAILY AVERAGES)
 Total assets $628,308 $564,366 11.3 $601,086 $557,057 7.9
 Total investments
 securities 105,824 77,544 36.5 102,668 73,322 40.0
 Total loans 426,717 416,585 2.4 418,354 423,345 -1.2
 Total interest-
 earning assets 576,746 516,936 11.6 550,600 509,836 8.0
 Total deposits 570,350 506,667 12.6 543,697 498,241 9.1
 Total interest-
 bearing
 liabilities 488,469 449,439 8.7 468,220 442,452 5.8
 Total shareholders'
 equity 42,371 38,490 10.1 41,412 37,923 9.2
 RATIOS (AVERAGES) (PCT.)
 Return on assets 0.76 0.71 - 0.81 0.61 -
 Return on equity 11.33 10.41 - 11.74 8.89 -
 Equity to total
 assets 6.74 6.82 - 6.89 6.81 -
 Net yield on
 interest-earning
 assets, taxable
 equivalent 4.89 4.86 - 4.99 4.86 -
 SELECTED DATA (PERIOD END)
 Total assets $633,835 $563,335 12.5
 Total investment
 securities 109,825 76,493 43.6
 Total loans 426,604 409,706 4.1
 Total interest-
 earning assets 585,099 515,145 13.6
 Total deposits 575,175 507,500 13.3
 Total interest-
 bearing liabilities 491,085 445,930 10.1
 Total shareholders'
 equity 43,000 38,801 10.8
 Book value per share 13.25 12.29 7.8
 Closing price of common stock 20.50 15.00 36.7
 Common shares
 outstanding 3,245,448 3,155,948 2.8
 NON-PERFORMING ASSETS
 Non-accrual loans $7,779 $7,920 -1.8
 Other real estate
 owned 1,604 1,094 46.6
 Restructured loans 0 205 -100.0
 Total non-performing
 assets 9,383 9,219 1.8
 ACCRUING LOANS PAST DUE
 90 DAYS OR MORE 455 498 -8.6
 OTHER INF0RMATION
 Shareholders of record 1,359 1,306
 Number of offices 29 29
 Number of S.C.
 cities served 17 15
 (A) Reflects early adoption of Statement of Financial Accounting Standards No. 109, "Accounting for Income Taxes."
 -0- 10/15/92
 /CONTACT: Charl L. Butler, Chief Financial Officer, 803-929-2062, or Billy J. Silver, Marketing Director, 803-929-2052, both of NBSC Corporation/
 (NSCB) CO: NBSC Corporation ST: South Carolina IN: FIN SU: ERN DIV


CM-MM -- CH005 -- 0465 10/15/92 13:18 EDT
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Date:Oct 15, 1992
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