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REGENT BANCSHARES ANNOUNCES RESULTS

 REGENT BANCSHARES ANNOUNCES RESULTS
 PHILADELPHIA, July 13 /PRNewswire/ -- Regent Bancshares Corp. (OTC),


the holding company for Regent National Bank, located at 1430 Walnut St., Philadelphia, today reported improved operating earnings of 48 percent for the second quarter and 116 percent for the six months ended June 30, 1992, over the comparable periods in 1991.
 Operating earnings, which excludes the gains on securities transactions, totalled $264,428 for the 1992 second quarter compared to the $178,923 earned in the second quarter of 1991. Harvey Porter, president and chief executive officer of Regent, stated the 48 percent increase in quarterly earnings resulted from net interest income being higher by 34 percent or $283,094 on the strength of higher average loan and securities balances and lower funding costs. Net income for the quarter ended June 30, 1992, was $264,428 or $.22 per share vs. $185,938 or $.07 per share in the comparable 1991 period. Net income for the second quarter of 1991 benefitted from non-recurring gains on securities held for sale of $7,015. For the three months ended June 30, 1992, Regent's return on average assets was .69 percent and return on average equity was 9.57 percent.
 For the six months ended June 30, 1992, operating earnings totalled $460,962 compared to $213,428 for the six months ended June 30, 1991. According to Porter, the increase in operating earnings of $247,533 or 116 percent was attributable primarily to a $409,901 or 25 percent increase in net interest income and a lower provision for loan losses of $200,000. Net income for the six months ended June 30, 1992, was $460,962, or $.36 per share which was lower than the $665,581 or $.60 per share earned in the same 1991 period. Included in 1991's results were non-recurring gains on securities held for sale of $452,153. Regent's return on average assets for the 1992 six-month period was .65 percent and return on average equity was 8.48 percent.
 In addition to recording higher 1992 operating earnings compared to 1991, net income in the second quarter of 1992 exceeded 1992's first quarter net income of $196,534 by $67,894 or 35 percent.
 Total assets at June 30, 1992, amounted to $172,978,804 compared to total assets at June 30, 1991, of $117,340,344. The increase in total assets of $55,638,460 or 47 percent was comprised of an increase in total loans of $12,073,730 and investment securities increasing by $43,552,888. Total deposits were higher by $37,859,971.
 REGENT BANCSHARES CORP.
 Three months ended June 30 1992 1991
 Net interest income $1,104,656 $821,562
 Provision for loan losses 100,000 75,000
 Operating earnings 264,428 178,923
 Gain on securities held for sale --- 7,015
 Net income 264,428 185,938
 Earnings per share:
 Primary $.22 $.07(A)
 Fully diluted .20 N/A
 Six months ended June 30 1992 1991
 Net interest income $2,052,333 $1,642,432
 Provision for loan losses 175,000 375,000
 Operating earnings 460,962 213,428
 Gain on securities held for sale --- 452,153
 Net income 460,962 665,581
 Earnings per share:
 Primary $.36 $.60(A)
 Fully diluted .36 .52(A)
 At June 30 1992 1991
 Total assets $172,978,804 $117,340,344
 Total deposits 142,798,565 104,938,594
 Investment securities 105,715,897 62,163,009
 Total loans 59,229,816 47,157,086
 Allowance for loan losses 1,071,412 849,465
 Total shareholders' equity 11,242,740 10,292,712
 (A) Restated to reflect payment of 10 percent common stock dividend in May 1992.
 /delval/
 -0- 7/13/92
 /CONTACT: Harvey Porter, president and CEO, or Stephen J. Carroll, treasurer of Regent Bancshares, 215-546-6500/ CO: Regent Bancshares Corporation ST: Pennsylvania IN: FIN SU: ERN


MP-MK -- PH009 -- 8581 07/13/92 11:10 EDT
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Date:Jul 13, 1992
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