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BANC ONE REPORTS RECORD THIRD QUARTER AND YEAR-TO-DATE RESULTS

 BANC ONE REPORTS RECORD THIRD QUARTER
 AND YEAR-TO-DATE RESULTS
 COLUMBUS, Ohio, Oct. 20 /PRNewswire/ -- Banc One Corporation (NYSE: ONE) reported record third quarter earnings of $186.2 million or $.87 per share. Earnings per share grew 26 percent over 1991 third quarter earnings of $.69. The annualized return on average assets was 1.49 percent during the quarter, which compares to 1.59 percent for the same quarter in 1991. Return on average common equity was 17.14 percent in the third quarter of 1992, compared with 15.60 percent a year ago.
 Earnings for the first nine months of 1992 were $545.8 million or $2.56 per share, up 28 percent from 1991's reported earnings of $2.00 per share.
 Data for prior periods have been restated to reflect two acquisitions in the first quarter 1992 and the First Security Corporation acquisition in Lexington, Ky., which occurred during the third quarter of 1992, all of which have been accounted for as poolings of interests. Per share data for 1991 are restated for the 10 percent common stock dividend paid March 3, 1992. Last year's third quarter and year to date results reflect Bank One, Texas, NA accounted for on an equity basis.
 Banc One chairman John B. McCoy said, "We continue to realize strong financial performance throughout the corporation. We are especially pleased with the improvement in profitability and in credit quality of our pending affiliates."
 Banc One's provision for loan and lease losses was $115 million in the third quarter compared with $95 million last year. The reserve for loan and lease losses was increased to 1.91 percent of ending loans compared to 1.79 percent one year ago. At quarter-end, Banc One reported that total nonperforming assets, including other real estate owned, were 1.92 percent of loans, compared with 2.39 percent a year ago.
 First Security Corporation of Kentucky joined Bank One Lexington on Aug. 21, 1992. The combined Bank One, Lexington now has assets of more than $1.6 billion and operates 30 banking offices. Also during the third quarter, Bedford National Bank joined Bank One, Bloomington, NA in Bloomington, Ind. Bedford National added two offices and approximately $153 million in assets to Bank One, Bloomington. In addition, Jefferson Bancorp., Inc., headquartered in Peoria, Ill. joined Banc One Illinois Corporation. Jefferson Bancorp. (now Bank One, Peoria) has five banking offices and $273 million in assets. As of Oct. 16, 1992, Banc One Corporation completed the purchase of most of the deposits and offices of Diamond Savings and Loan Company, Findlay, Ohio.
 Banc One Corporation has affiliations pending with Affiliated Bankshares of Colorado, Inc., headquartered in Denver, Team Bancshares, Inc. of Dallas, Valley National Corporation headquartered in Phoenix, Key Centurion Bancshares, Inc., headquartered in Charleston, W.Va. and First Community Bancorp Inc. in Rockford, Ill.
 Banc One Corporation had assets of $51.2 billion as of Sept. 30, 1992 and total equity of $4.5 billion. Banc One operates 57 banks with 887 offices in Illinois, Indiana, Kentucky, Michigan, Ohio, Texas and Wisconsin. Banc One Corporation also operates several additional corporations that engage in data processing, venture capital, investment and merchant banking, trust, brokerage, equipment leasing, mortgage banking, consumer finance and insurance.
 -0- 10/20/92
 /CONTACT: George R.L. Meiling, 614-248-5908, or John A. Russell, 614-248-5989, both of Banc One Corporation/
 (ONE) CO: Banc One Corporation ST: Ohio IN: FIN SU: ERN


KK -- CL007 -- 2072 10/20/92 09:46 EDT
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Publication:PR Newswire
Date:Oct 20, 1992
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