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DAUPHIN DEPOSIT CORPORATION REPORTS FIRST QUARTER EARNINGS

 /FOLLOWING IS REPEAT OF RELEASE MOVED EARLIER/
 HARRISBURG, Pa., April 15 /PRNewswire/ -- Dauphin Deposit


Corporation (NASDAQ: DAPN) today announced net income of $16,676,000 for the first quarter ended March 31, 1993, compared with net income of $14,137,000 for the same period a year earlier. Net income of $.56 per share for the quarter increased 14.3 percent from $.49 per share for the comparable 1992 period.
 The corporation's total assets at March, 31, 1993, were $4,500,448,000, compared with $4,310,668,000 at that time in 1992. Deposits totalled $3,236,714,000, compared with $3,342,351,000 at March 31, 1992. Total loans at March 31, 1993, were $2,172,678,000, compared with $2,173,952,000 at March 31, 1992.
 Financial data has been restated for the prior year to reflect the acquisition of FB&T Corporation which was accounted for as a pooling-of- interests, to reflect the 2-for-1 stock split paid Dec. 4, 1992, and to reflect the adoption of Statement of Financial Accounting Standards No. 109, "Accounting for Income Taxes" and Statement of Financial Accounting Standards No. 106, "Employers' Accounting for Postretirement Benefits Other Than Pensions."
 Commenting on the results, William J. King, Dauphin's chairman and chief executive officer, said, "I am pleased to report another quarter of steady performance. Although loan demand during the latest period was soft, Dauphin is well positioned to capitalize on an improving economy in our trading area. Furthermore, we have been able to maintain our non-interest expenses and our net interest margin at satisfactory levels while we wait for the recovery to pick up speed."
 Dauphin Deposit Corporation, headquartered in Harrisburg, is the leading independent bank holding company in central Pennsylvania and is the parent company of Dauphin Deposit Bank and Trust Co., which includes the Bank of Pennsylvania Division, and Farmers Bank and Trust Company of Hanover. Other subsidiaries of Dauphin are: Farmers Bank, a Federal Savings Bank; Hopper Soliday & Co., Inc.; Dauphin Life Insurance Company; Dauphin Investment Company; Farmers Mortgage Corporation; Financial Realty, Inc., and FARMCO Realty, Inc.
 DAUPHIN DEPOSIT CORPORATION AND SUBSIDIARIES
 Condensed Consolidated Balance Sheets
 (Unaudited; in thousands)
 At March 31 1993 1992
 Assets:
 Cash and due from banks $169,065 $153,785
 Short-term investments 5,237 17,001
 Investment securities 1,982,459 1,835,675
 Assets held for sale 56,023 9,148
 Loans 2,172,678 2,173,952
 Allowance for loan losses (34,086) (30,297)
 Other assets 149,072 151,404
 Total assets 4,500,448 4,310,668
 Liabilities and Stockholders' Equity:
 Deposits $3,236,714 $3,342,351
 Short-term borrowings 677,974 449,627
 Long-term debt 92,558 44,069
 Accrued expenses and taxes 51,323 72,466
 Total liabilities 4,058,569 3,908,513
 Stockholders' equity:
 Common stock 150,205 74,825
 Surplus 18,137 91,653
 Retained earnings 277,032 240,899
 Treasury stock, at cost (3,495) (5,222)
 Total stockholders' equity 441,879 402,155
 Total liabilities and
 stockholders' equity 4,500,448 4,310,668
 Condensed Consolidated Statements of Income
 (Unaudited; dollars in thousands, except per-share data)
 Quarter ended March 31 1993 1992
 Interest income $75,987 $82,672
 Interest expense 35,963 44,696
 Net interest income 40,024 37,976
 Provision for loan losses 2,402 2,187
 Net interest income after
 provision for loan losses 37,622 35,789
 Non-interest income 13,939 13,871
 Non-interest expense 29,534 30,985
 Income before income taxes 22,027 18,675
 Provision for income taxes 5,351 4,538
 Net income 16,676 14,137
 Net income per share $.56 $.49
 Weighted average number of
 shares outstanding 29,989,831 29,084,500
 /delval/
 -0- 4/15/93
 /CONTACT: N. Bruce Pinto, vice president of Dauphin Deposit, 717-255-2066/
 (DAPN)


CO: Dauphin Deposit Corporation ST: Pennsylvania IN: FIN SU: ERN

MP-LJ -- PH006 -- 6153 04/15/93 10:56 EDT
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Date:Apr 15, 1993
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