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AMERICAN BANK OF CONNECTICUT REPORTS RESULTS

 WATERBURY, Conn., Jan. 29 /PRNewswire/ -- Gene C. Guilbert, president of American Bank of Connecticut (AMEX: BKC), announced today that the bank's net income for the 12 months ended Dec. 31, 1992, was $4,017,000 or $1.83 per share. Net income for the same period in 1991 was $4,224,000 or $1.94 per share.
 Net income for the fourth quarter of 1992 was $397,000 compared to $1,018,000 for the same period in 1991. Net income per share for the quarter was 18 cents compared to 47 cents in 1991.
 American Bank of Connecticut is a state-chartered savings bank with assets of $453 million, shareholders' equity of $34 million, and a period ending book value of $15.62. The bank is headquartered in Waterbury. Its stock is traded on the American Stock Exchange under the symbol BKC.
 AMERICAN BANK OF CONNECTICUT
 Quarter ended Dec. 31: 1992 1991
 Net income $397,000 $1,018,000
 Per share earnings $0.18 $0.47
 Average shares 2,201,935 2,182,600
 Dividends per share $0.33 $0.33
 Year to date Dec. 31: 1992 1991
 Net income $4,017,000 $4,224,000
 Per share earnings $1.83 $1.94
 Average shares 2,190,300 2,180,842
 Dividends per share $1.32 $1.32
 -0- 1/29/93
 /CONTACT: Betty Veillette of American Bank of Connecticut, 203-757-9401/
 (BKC)


CO: American Bank of Connecticut ST: Connecticut IN: FIN SU: ERN

CK-TS -- NY027 -- 0679 01/29/93 10:32 EST
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Publication:PR Newswire
Date:Jan 29, 1993
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