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ALLIED BANKSHARES FOURTH QUARTER NET INCOME PER SHARE INCREASES BY 27 PERCENT; 1992 NET INCOME PER SHARE INCREASES BY 46 PERCENT

 THOMSON, Ga., Jan. 12 /PRNewswire/ -- Allied Bankshares, Inc. (NASDAQ: ABGA) today reported that net income per share for the fourth quarter of 1992 increased 27 percent to $.28, as compared to $.22 earned for the fourth quarter of 1991, according to Boone A. Knox, chairman and chief executive officer.
 Net income per share for the year ended Dec. 31, 1992, was $1.05 as compared to $.72 per share for 1991.
 Net income for the fourth quarter of 1992 totaled $1,565,000 as compared to $1,196,000 for the fourth quarter of 1991. For the fourth quarter of 1992 the returns on average assets and average equity were 1.88 percent and 17.43 percent as compared to 1.53 percent and 15.29 percent, respectively, for the fourth quarter of 1991. Net income for 1992 was $5.8 million as compared to $4.0 million for 1991.
 Knox stated that the company's provision for loan losses for the fourth quarter of 1992 was $1.1 million as compared to $2.8 million for the fourth quarter of 1991. At Dec. 31, 1992, the company's ratio of allowance for loan losses to net loans was 1.95 percent. Total nonperforming assets declined to $1.8 million at Dec. 31, 1992, as compared to $2.0 million at Sept. 30, 1992, and $2.7 million at Dec. 31, 1991.
 ALLIED BANKSHARES, INC.
 Financial Highlights
 Dec. 31, 1992
 3 mos. ended 12 mos. ended
 12/31/92 12/31/91 12/31/92 12/31/91
 ($ in thousands, except per share data)
 Net Income and Dividends
 Net income $1,565 $1,196 $5,800 $4,001
 Cash dividends paid 552 365 2,013 1,465
 Per common share
 Net income $0.28 $0.22 $1.05 $0.72
 Securities gains,
 net of taxes 0.00 0.09 0.06 0.09
 Net income from operations 0.28 0.13 0.99 0.63
 Cash dividends paid 0.10 0.07 0.36 0.26
 Avg. shrs. outst. (000s) 5,523 5,523 5,523 5,540
 Performance Ratios
 Return (annualized) on:
 Average assets (ROA) 1.88 pct. 1.53 pct. 1.79 pct. 1.45 pct.
 Avg. common stockholders'
 equity (ROE) 17.43 pct. 15.29 pct. 16.69 pct. 13.03 pct.
 Average assets $332,403 $313,122 $324,767 $276,638
 Income Statement Data
 Net interest income $4,024 $3,505 $15,590 $12,453
 Prov. for loan losses 490 2,158 1,075 2,798
 Non-interest income 1,307 2,215 4,486 4,264
 Investment securities
 gains 32 841 531 847
 Non-interest expense 2,838 3,019 11,786 9,664
 Net income 1,565 1,196 5,800 4,001
 12/31/92 12/31/91
 Nonperforming Assets
 Nonaccrual loans $ 954 $ 1,220
 Loans past due 90 days or more 665 1,152
 Other real estate owned 183 346
 Total nonperforming assets $ 1,802 $ 2,718
 At Dec. 31, 1992 1991
 Assets $335,477 $317,730
 Earning assets 303,151 283,753
 Loans, net of unearned income 167,229 155,011
 Allowance for loan losses 3,263 2,530
 Deposits 272,639 257,747
 Stockholders' equity 36,142 32,354
 Common shares outstanding (000s) 5,523 5,523
 Book value per common share $6.54 $5.86
 Allowance for loan losses
 Balance, Jan. 1 $ 2,530 $ 2,451
 Charge-offs (933) (2,966)
 Recoveries 591 247
 Provision for loan losses 1,075 2,798
 Balance, Dec. 31 $ 3,263 $ 2,530
 Allowance for loan losses to
 net loans 1.95 pct. 1.63 pct.
 -0- 1/12/93
 /CONTACT: Ben O. Howell Jr., chief financial officer of Allied Bankshares, 706-595-1142/
 (ABGA)


CO: Allied Bankshares, Inc. ST: Georgia IN: FIN SU: ERN

BR-BN -- AT010 -- 4146 01/12/93 15:27 EST
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Date:Jan 12, 1993
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