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CITIZENS NATIONAL CORPORATION ANNOUNCES 2-FOR-1 STOCK SPLIT

 NAPLES, Fla., Jan. 13 /PRNewswire/ -- The board of directors of Citizens National Corporation (NASDAQ-NMS: CNCN) parent company of Citizens National Bank of Naples, at its Jan. 11, 1993, regularly scheduled meeting, declared a 2-for-1 stock split. Feb. 1, 1993, has been established as the record date. The stock split will be payable March 1, 1993. If a stockholder is contemplating a sale between the record date and the payable date, he or she should consult their broker as to his or her entitlement to the split shares. The split was authorized to further increase the liquidity for the company's shares and to promote increased ownership by reducing the per share market price.
 In addition, the board of directors has established a quarterly cash dividend policy, beginning in 1993. For the first quarter, the board has declared a 6 cent per common share cash dividend based on the number of shares after the split. The record date for the cash dividend will be March 8, 1993, and is payable April 7, 1993.
 The 6 cent quarterly cash dividend, a 20 percent increase over the 40 cents per share paid in 1992 and a 37 percent increase over the 35 cents per share paid in 1991, is equivalent to 48 cents per share annually on a pre-split basis.
 Citizens National Corporation operates the largest independent commercial bank in Southwest Florida, with $276 million in assets, an increase of $44 million, or 19 percent, in the past year. Citizens National Corporation had 1992 net income of $3,005,212, up 15 percent from the $2,616,229 earned in 1991. Weighted average earnings per common share for 1992 were $1.43, compared to $1.28 in 1991, a 15 cent increase per common share.
 Citizens National Bank submitted a branch application with the comptroller of the currency on Jan. 11, 1993, to open its seventh branch office at the Crossroads Market Shopping Center, at the intersection of Vineyards Boulevard and Pine Ridge Road in Naples. The branches expected to open in October, 1993. The branch will be a 4,000-square- foot free-standing building with four drive in lanes, located on a one acre outparcel.
 -0- 1/13/93
 /CONTACT: Sanda Brown of Citizens National Corporation, 813-261-5522/
 (CNCN)


CO: Citizens National Corporation ST: Florida IN: FIN SU:

SS-JB -- FL002 -- 4406 01/13/93 10:40 EST
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Publication:PR Newswire
Date:Jan 13, 1993
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