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SOUTHWEST NATIONAL CORPORATION REPORTS EARNINGS

 GREENSBURG, Pa., July 21 /PRNewswire/ -- Southwest National Corporation (NASDAQ: SWPA), the parent company of Southwest Bank, reported today net income of $1.888 million or $.71 per share for the quarter ending June 30, 1993.
 This represents an increase of $.115 million or 6.5 percent from the $1.773 million, or $.67 per share earned during the second quarter of 1992. Net income for the first six months was $3.840 million or $1.44 per share representing an increase of $.407 million or 11.9 percent from the $3.433 million or $1.29 per share reported for the same period in 1992.
 "Second quarter results reflect a $315,000 nonrecurring write-down of other real estate owned," stated David S. Dahlmann, president and chief executive officer. "Core earnings for the corporation continue to be strong this quarter and for the first six months of 1993. Loan activity in 1993 has been good for the bank with growth primarily occurring in loans to small and medium-sized businesses. We are committed to promoting economic growth in our area, which is reflected in our expanded business lending," he noted.
 The corporation ended the quarter with assets of $690.4 million and achieved a return on average assets for the quarter of 1.10 percent. Shareholders' equity increased by 8.5 percent from the same period a year ago and the return on average shareholders' equity was 12.07 percent. According to Dahlmann, "growth in capital is important to Southwest's ability to meet the community's needs by providing a base to expand lending, protect our depositors and provide flexibility for growth for the corporation as opportunities for expansion may arise.
 "We continue to receive high ratings for our financial soundness and performance," stated Dahlmann. "In June, Bauer Financial Reports, Inc. awarded us with their highest, `five-star rating,' for the fourth quarter of 1992. We were also recently notified that Veribanc Inc. has awarded us with their highest, `Blue Ribbon,' rating for the first quarter of 1993."
 In other business, the corporation's board of directors on July 20, 1993, declared a quarterly dividend of $.29 per share payable Sept. 10, 1993, to shareholders of record Aug. 10, 1993.
 SOUTHWEST NATIONAL CORPORATION AND SUBSIDIARY
 Financial Highlights
 June 30, 1993
 ($ in thousands, except per share amounts)
 1993 1992 Pct. Change
 Second Quarter
 Net income $1,888 $1,773 6.5
 Cash dividends 772 691 11.7
 Return on average assets 1.10 pct. 1.05 pct. --
 Return on average shareholders'
 equity 12.07 12.32 --
 Net interest margin 4.82 4.67 --
 Per share:
 Net income $.71 $.67 6.0
 Cash dividends $.29 $.26 11.5
 First six months
 Net income 3,840 3,433 11.9
 Cash dividends 1,543 1,383 11.6
 Return on average assets 1.13 pct. 1.02 pct. --
 Return on average shareholders'
 equity 12.41 12.05 --
 Net interest margin 4.87 4.55 --
 Per share:
 Net income $1.44 $1.29 11.6
 Cash dividends $.58 $.52 11.5
 At June 30,
 Shareholders' equity 63,174 58,219 8.5
 Total assets 690,352 671,474 2.8
 Loans 358,179 328,161 9.1
 Investment securities 257,399 254,448 1.2
 Money market investments 32,105 47,621 (32.6)
 Deposits 622,628 609,470 2.2
 Period-end ratios at June 30,
 Book value per share $23.75 $21.88 8.5
 Risk-based capital ratios:
 Tier 1 capital 17.41 pct. 16.80 pct. --
 Total capital 18.51 17.70 --
 Leverage capital ratio 9.14 8.66 --
 Nonperforming assets to loans,
 other real estate owned and
 other repossessions .52 .69 --
 Nonperforming loans to loans .34 .32 --
 Loans past due 90 days or more
 to loans .21 .54 --
 Reserve for possible loan losses
 to nonperforming loans 330.39 297.13 --
 -0- 7/21/93
 /CONTACT: Donald A. Lawry, executive vice president of Southwest National, 412-832-6115/
 (SWPA)


CO: Southwest National Corporation, Southwest Bank ST: Pennsylvania IN: FIN SU: ERN

KC-DD -- PG012 -- 4090 07/21/93 15:31 EDT
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Date:Jul 21, 1993
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