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REGENT BANCSHARES ANNOUNCES RESULTS

 PHILADELPHIA, Feb. 9 /PRNewswire/ -- Regent Bancshares Corp. (NASDAQ: RBNK), the holding company for Regent National Bank, located at 1430 Walnut St., Philadelphia, today reported higher operating earnings for the year and fourth quarter ended Dec. 31, 1992, over the comparable periods in 1991.
 Operating earnings, which excludes the gains from securities transactions, totalled $1,166,856 for 1992 compared to the $512,276 earned in 1991.
 Harvey Porter, president and chief executive officer of Regent, attributed the 128 percent increase in operating earnings to net interest income being higher by 44 percent or $1,428,752 on the strength of higher average loan and investment securities balances and lower funding costs.
 Net income for the year ended Dec. 31, 1992, was $1,166,856 compared to $1,154,647 for 1991. Porter noted, however, that 1991's results included non-recurring gains on securities held for sale of $642,371 and the utilization of net operating loss carryforwards of $212,800. Regent's return on average assets for 1992 was .70 percent and return on average equity was 10.33 percent.
 For the fourth quarter of 1992, operating earnings amounted to $359,134 compared to $145,841 in 1991. According to Porter, the increase in the quarterly operating earnings of $213,293 or 146 percent was attributable primarily to a $663,736 increase in net interest income which offset a higher provision for loan losses of $150,000. Net income for the three months ended Dec. 31, 1992, was $359,134 vs. the $225,841 earned in the 1991 fourth quarter.
 Porter indicated that net income for the fourth quarter of 1991 benefitted from non-recurring gains of $80,000 on securities held for sale and the utilization of net operating loss carryforwards of $36,000. For the fourth quarter of 1992, Regent's return on average assets was .69 percent and return on average equity was 12.15 percent.
 Total assets at Dec. 31, 1992, were $204,800,317 compared to $132,416,382 at Dec. 31, 1991. The increase in total assets of $72,383,935 or 55 percent was comprised of an increase in total loans of $4,706,742 and in investment securities of $71,618,146.
 REGENT BANCSHARES CORP.
 Three months Year
 Periods ended Dec. 31 1992 1991 1992 1991
 Net interest income $1,384,846 $721,110 $4,709,404 $3,280,652
 Provision for loan
 losses 225,000 75,000 525,000 525,000
 Operating earnings 359,134 145,841 1,166,856 512,276
 Gain on securities
 held for sale --- 80,000 --- 642,371
 Net icome 359,134 225,841 1,166,856 1,154,647
 Earnings per share:
 Primary $.35 $(.08)(A) $1.02 $.61(A)
 Fully diluted $.27 --- $.88 ---
 Average shares
 outstanding 836,428 820,268 836,333 820,268
 (A) Primary earnings per share for the three months and year ended Dec. 31, 1991, reflect the declaration of a preferred stock dividend totalling $385,000.
 At Dec. 31 1992 1991
 Total assets $204,800,317 $132,416,382
 Total deposits 160,715,030 119,722,678
 Total loans 55,477,236 50,770,494
 Allowance for loan losses 1,077,635 905,139
 Investment securities 139,904,257 68,286,111
 Total shareholders' equity 11,948,634 10,781,778
 /delval/
 -0- 2/9/93
 /CONTACT: Harvey Porter, president and CEO, or Stephen J. Carroll, treasurer, of Regent Bancshares, 215-546-6500/
 (RBNK)


CO: Regent Bancshares Corporation ST: Pennsylvania IN: FIN SU: ERN

LJ-MJ -- PH033 -- 4783 02/09/93 15:32 EST
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Date:Feb 9, 1993
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