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TRANS FINANCIAL REPORTS SIXTH STRAIGHT YEAR OF RECORD EARNINGS

 BOWLING GREEN, Ky., Jan. 25 /PRNewswire/ -- Trans Financial Bancorp, Inc. (NASDAQ-NMS: TRFI), today reported record net income of $8.112 million, or $1.75 per share on a fully diluted basis for the year ended Dec. 31, 1992. The results represent a 12 percent increase from the 3.7 million, or $1.57 per share on a fully diluted basis earned in 1991.
 For the 1992 fourth quarter, Trans Financial reported earnings of $2.173 million, or $0.44 per share, on a fully diluted basis, 19 percent above the $1.2 million, or $0.37 per fully diluted share, earned for the 1991 fourth quarter.
 Average shares outstanding on a fully diluted basis increased 94 percent to 4.619 million for the year. The 1992 fourth quarter average shares increased 53 percent to 4.965 million for the same quarter of the prior year.
 Earnings restated for the effect of pooling with Dawson Springs Bancorp on Dec. 31, 1992, resulted in net income of $9.060 million or $1.74 per share on a fully diluted basis. Restated earnings per share increased 12 percent from $4.540 million or $1.56 per share on a fully diluted basis for 1991. Restated 1992 fourth quarter earnings were $2.369 million or $0.43 per share on a fully diluted basis.
 The company also had one-time charges of $425,000, or $0.08 per share, relative to the acquisition of Dawson Springs Bancorp, which was completed on Dec. 31, 1992. The company completed 1992 with assets of $978 million, up 91 percent from $512 million at year-end 1991.
 The results for 1992 produced a return on average assets of 1.10 percent and a return on average equity of 14.02 percent.
 On Jan. 5, 1993, the company announced a 13.33 percent increase in the regular quarterly dividend and on Jan. 6, 1993, a 4-for-3 stock split was announced effective Feb. 1, 1993, payable to shareholders of record Jan. 20, 1993. Taking this split into consideration, the company had restated earnings per share of $1.30 for 1992 compared to $1.17 for 1991.
 Douglas M. Lester, Trans Financial's chairman and chief executive officer, stated that solid increases in net interest income from core banking operations, and the continued growth in non-interest income were the factors that drove the company's 1992 fourth quarter and year-end results.
 Mr. Lester stated further that Trans Financial's 1992 net income was boosted by the profitable growth resulting from the continued implementation of the company's strategic acquisition program. Trans Financial acquired Maury Federal Savings Bank of Columbia, Tenn., and First Federal Savings Bank of Tennessee in March 1992, five middle Tennessee branches of Heritage Federal Savings Bank in August 1992, and Dawson Springs Bancorp consisting of Kentucky State Bank, Scottsville, and Commercial Bank of Dawson Springs, Kentucky, in December 1992.
 Net interest income prior to the provision for possible loan losses was $31.730 million for all of 1992, representing an increase of 65 percent over the comparable 1991 period.
 Non-interest expenses were $27.498 million in 1992, 53 percent above 1991 and resulted from an increase in Trans Financial's franchise which grew to 30 branches in 19 communities at 1992 year-end. At the beginning of 1991, Trans Financial had 11 branches in six communities.
 Non-performing assets including non-accrual loans, restructured loans, other real estate owned and loans past due in excess of 90 days and still accruing interest were $13.661 million, or 1.39 percent of total assets, at Dec. 31, 1992, vs. $11.262 million, or 1.92 percent of total assets at Dec. 31, 1991.
 The provision for possible loan losses for the 1992 fourth quarter was $304,000, vs. $228,000 for the year-ago quarter and $212,000 for the 1992 third quarter. The provision for all of 1992 was $1.216 million, compared with the $750,000 in 1991. The loan loss reserve at 1992 year- end was $5.537 million, or 1.02 percent of loans, and 74 percent of non- performing loans. This compares with a total loan loss reserve of $4.192 million at Dec. 31, 1991.
 Loans, net of unearned income were $570.4 million at Dec. 31, 1992, compared with $356.3 million at the end of 1991. Deposits were $860.5 million at 1992 year-end, compared with $509.3 million a year ago, representing a 69 percent increase. Total shareholders' equity was $69.532 million, or $12.57 per share at Dec. 31, 1992, or $9.43 per share adjusted for the 4-for-3 stock split effective Feb. 1, 1993.
 Trans Financial, a bank-holding company, serves Kentucky and Tennessee through 30 offices. Its stock is traded in the NASDAQ National Market System under the symbol TRFI.
 -0- 1/25/93
 /CONTACT: Douglas M. Lester, 502-745-7550, or Barry D. Bray, 502-745-7530, both of Trans Financial Bancorp/
 (TRFI)


CO: Trans Financial Bancorp, Inc. ST: Kentucky IN: FIN SU: ERN

CK-PS -- NY024 -- 8381 01/25/93 10:38 EST
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Publication:PR Newswire
Date:Jan 25, 1993
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