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SOUTHWEST NATIONAL CORPORATION ANNOUNCES EARNINGS

 SOUTHWEST NATIONAL CORPORATION ANNOUNCES EARNINGS
 GREENSBURG, Pa., Oct. 22 /PRNewswire/ -- Southwest National


Corporation, parent company of Southwest Bank, reported net income of $2.017 million, or $0.76 per share, for the third quarter ending Sept. 30, 1992. This represents an increase of $0.393 million or 24.2 percent from the $1.624 million, or $0.61 per share, reported in the third quarter of 1991.
 Net income for the first nine months was $5.450 million, or $2.05 per share, representing an increase of $0.836 million or 18.1 percent from the $4.614 million, or $1.73 per share, reported for the same period in 1991.
 "We are pleased to report a continued strong earnings performance for the bank in this period of limited economic growth," stated David S. Dahlmann, president and chief executive officer. "Southwest Bank, and the banking industry in general, has benefitted from the trend in interest rates and a shift by depositors away from certificates of deposit."
 "Overall, loan growth has been slow with loan refinancing representing a very active component for the bank," noted Dahlmann. "Both consumers and business appear to be reducing debt and taking advantage of lower rates to improve their financial situation. We believe this debt restructuring is creating a good foundation for growth in our area as confidence in the economy improves. We continue to build upon the strong capital base of the bank. Southwest Bank is well positioned and actively interested in providing loans to meet the needs of our community today and in the future."
 In other business, the corporation's board of directors on Oct. 20, 1992, authorized an 11.5 percent or $0.03 per share increase in the quarterly dividend to $0.29 per share, payable Dec. 10, 1992, to shareholders of record Nov. 10.
 SOUTHWEST NATIONAL CORPORATION AND SUBSIDIARY
 Financial Highlights
 Sept. 30, 1992
 (Dollars in thousands, except per-share amounts)
 1992 1991 Pct. change
 Third quarter:
 Net income $2,017 $1,624 24.2
 Cash dividends 692 639 8.3
 Return on average assets (pct.) 1.20 1.03 ---
 Return on average
 shareholders' equity (pct.) 13.74 11.87 ---
 Net interest margin (pct.) 4.83 4.43 ---
 Per share:
 Net income $.76 $.61 24.6
 Cash dividends .26 .24 8.3
 First nine months:
 Net income $5,450 $4,614 18.1
 Cash dividends 2,075 1,916 8.3
 Return on average assets (pct.) 1.08 1.00 ---
 Return on average
 shareholders' equity (pct.) 12.59 11.44 ---
 Net interest margin (pct.) 4.65 4.43 ---
 Per share:
 Net income $2.05 $1.73 18.5
 Cash dividends .78 .72 8.3
 At Sept. 30:
 Shareholders' equity $59,544 $55,240 7.8
 Total assets 670,763 630,994 6.3
 Loans 330,714 319,688 3.4
 Investment securities 253,927 219,674 15.6
 Money market investments 45,210 51,283 (11.8)
 Deposits 605,995 570,636 6.2
 Period-end ratios at Sept. 30:
 Book value per share $22.38 $20.76 7.8
 Risk-based capital ratios(A):
 Tier 1 capital (pct.) 17.16 16.90 ---
 Total capital (pct.) 18.09 17.88 ---
 Leverage capital ratio (pct.) 8.86 8.75 ---
 Nonperforming assets to loans,
 other real estate owned and
 other repossessions (pct.) .67 .67 ---
 Nonperforming loans to loans (pct.) .33 .25 ---
 Loans past due 90 days
 to loans (pct.) .42 .65 ---
 Reserve for possible loan losses
 to nonperforming loans (pct.) 295.32 400.38 ---
 (A) Calculated under regulatory guidelines for year-end 1992.
 -0- 10/22/92
 /CONTACT: Donald A. Lawry, executive vice president of Southwest National, 412-832-6115/ CO: Southwest National Corporation ST: Pennsylvania IN: FIN SU: ERN


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Date:Oct 22, 1992
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