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CITIZENS NATIONAL CORPORATION REPORTS RESULTS

 NAPLES, Fla., July 9 /PRNewswire/ -- Citizens National Corporation (NASDAQ-NMS: CNCN) and its wholly owned subsidiary Citizens National Bank of Naples, announces record earnings for the second quarter of 1993.
 The second quarter's net income of $885,896 was the most profitable quarter reported by the bank or corporation in its seven-year history. This reflects a 16.3 percent increase over the $761,887 earned for the same quarter one year ago.
 The comparison to the previous quarter is even more impressive with net income up 30 percent from the $680,670 earned in the first quarter of 1993.
 Net income for the first six months of 1993 was $1,566,566, a 15.7 percent increase over the $1,354,118 earned in the first half of 1992.
 Weighted average earnings per common share in the second quarter were $.21 compared to $.18 for the same period in 1992. Year-to-date earnings per share were $.37 compared to $.32 during the same period in 1992.
 In the first six months of 1993, the corporation has paid two quarterly dividends of $.06 per share each.
 Total assets on June 30, 1993 were $289,569,825, reflecting a $42,657,303 increase or 17.3 percent over the same period one year ago. Since Jan. 1, 1993, assets have grown $13,012,875, a 4.7 percent increase in the first six months.
 Citizens National Bank presently has six offices within Collier County, with a seventh office under construction at the Crossroads Market Shopping Center on Pine Ridge Road. This location is expected to open for business by late September.
 -0- 7/9/93
 /CONTACT: Sanda J. Brown of Citizens National Corporation, 813-261-5522/
 (CNCN)


CO: Citizens National Corporation; Citizens National Bank of Naples ST: Florida IN: FIN SU: ERN

JB-AW -- FL009 -- 9952 07/09/93 13:29 EDT
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Publication:PR Newswire
Date:Jul 9, 1993
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