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SDN BANCORP REPORTS SECOND QUARTER EARNINGS

 SDN BANCORP REPORTS SECOND QUARTER EARNINGS
 ENCINITAS, Calif., Aug. 12 /PRNewswire/ -- SDN Bancorp, holding


company for San Dieguito National Bank, reported 1992 second quarter net earnings of $52,000 compared to a net loss of $893,000 for the second quarter of 1991. The net earnings for the six months ended June 30, 1992, were $100,000.
 Total assets were $81.4 million at June 30, 1992, compared to $91.7 million at Dec. 31, 1991, and $88.9 million at June 30, 1991. Net loans were $63.2 million at June 30, 1992, compared to $70.5 million at Dec. 31, 1991, and $62.5 million at June 30, 1991. Total deposits were $76.9 million at June 30, 1992, compared to $84.1 million a year ago. San Dieguito National Bank's risk-based capital ratio was 7.8 percent at June 30, 1992.
 "This decrease in loans and deposits is in accordance with our 1992 plan," stated Paul E. Schedler, president. "In fact, we are extremely close to our projections which call for some further reduction in assets during the remainder of 1992. Our bank is very cautious during this most difficult time for all banks."
 San Dieguito National Bank is an independent community bank organized by local business men and women. The bank is headquartered in Encinitas with additional offices in Carlsbad Village and La Costa, Calif.
 -0- 8/12/92
 /CONTACT: Paul E. Schedler, president of SDN Bancorp, 619-436-6888 or 800-736-7362/ CO: SDN Bancorp ST: California IN: FIN SU: ERN


JB-LS -- SD001 -- 9242 08/12/92 08:46 EDT
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Publication:PR Newswire
Date:Aug 12, 1992
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