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UNITED NATIONAL REPORTS EARNINGS

 UNITED NATIONAL REPORTS EARNINGS
 BRANCHBURG, N.J., July 21 /PRNewswire/ -- Kenneth W. Turnbull,


chairman and chief executive officer of United National Bancorp, parent company of United National Bank, reported increased earnings for the first six months.
 Net income for the first six months of 1992 was $1,981,000, compared to $1,717,000 for the same period a year ago, a 15 percent increase. Per share earnings were 85 cents versus 73 cents. Second quarter net income was $1,007,000, compared to $812,000 in 1991. Per share results were 43 cents versus 34 cents a year ago.
 Total assets increased to $699,398,000 from $639,355,000 and deposits grew to $628,377,000 from $560,699,000, a 12 percent increase.
 Continued weak loan demand reduced the loan portfolio further in the second quarter. At June 30, 1992, total loans stood at $268,359,000 compared to $301,491,000 a year ago.
 "A vigorous program to develop more commercial loan business is well underway and will be expanded. As the economic climate improves, we will be well positioned to benefit from the increased business derived from this effort," Turnbull said
 -0- 7/21/92
 /CONTACT: Pierce Baugh, secretary of United National Bancorp, 908-756-5000/ CO: United National Bancorp ST: New Jersey IN: FIN SU: ERN


SM-SH -- NY093 -- 1474 07/21/92 15:48 EDT
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Publication:PR Newswire
Date:Jul 21, 1992
Words:229
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