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THE TRUSTCOMPANY BANCORPORATION REPORTS RECORD FIRST-QUARTER EARNINGS FOR THE 10TH CONSECUTIVE YEAR

 THE TRUSTCOMPANY BANCORPORATION REPORTS RECORD FIRST-QUARTER
 EARNINGS FOR THE 10TH CONSECUTIVE YEAR
 JERSEY CITY, N.J., April 22 /PRNewswire/ -- Siggi B. Wilzig, chairman and president of the Trustcompany Bancorporation (NASDAQ: TCBC), parent company of the Trust Company of New Jersey, announced today that the bank reported record first-quarter earnings for the quarter ended March 31, 1992. First-quarter earnings increased from $6,326,000 to $6,715,000.
 For the quarter ended March 31, 1992, per-share earnings were 67 cents compared to 64 cents for the same period last year. For the first quarter of 1992, deposits increased from $1.8 billion to $1.9 billion and assets increased from $2 billion to $2.1 billion.
 Wilzig stated, "We are unique -- the only major bank in New Jersey with nine straight years of annual record earnings, and unlike most New Jersey banks, the Trust Company's capital ratios are excellent, far exceeding the required levels."
 March 31, 1991 The Trust Company Required
 Tier 1 (pct.) 14.40 3.63
 Total capital (pct.) 15.93 7.25
 Wilzig outlined the bank's business plan for the remainder of 1992. The key components of the plan include: staying highly liquid, investing in U.S. Treasury notes and generating up to $500 million in new loans.
 Wilzig further announced that the bank's excellent earnings and condition has been acknowledged by Standard & Poor's, the most important financial rating company in the country. Standard & Poor's raised the bank's stock rating twice just within the last 10 months. In fact, no other bank in New Jersey has a higher rating than the Trust Company.
 TRUSTCOMPANY BANCORPORATION
 Quarters ended March 31 1992 1991
 Net income $6,715,000 $6,326,000
 Per common share $.67 $.64
 Average shares outstanding 9,894,753 9,794,402
 -0- 4/22/92
 /CONTACT: Trustcompany Bancorporation corporate relations, 201-420-2800/
 (TCBC) CO: Trustcompany Bancorporation ST: New Jersey IN: FIN SU: ERN


TS-CK -- NY046 -- 1259 04/22/92 12:08 EDT
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Publication:PR Newswire
Date:Apr 22, 1992
Words:325
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