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ENB HOLDING CO. REPORTS RESULTS

 ENB HOLDING CO. REPORTS RESULTS
 ESCONDIDO, Calif., Aug. 25 /PRNewswire/ -- Harvey L. Williamson,


newly appointed president of ENB Holding Co. and Escondido National Bank (subject to regulatory approval) reports that unaudited results for ENB Holding Co., parent company for Escondido National Bank, San Marcos National Bank, and Temecula Valley National Bank show ending assets at June 30, 1992, of $231 million, compared with $243 million at Dec. 31, 1991. The decrease in assets is due to a decrease in loans to $153 million at June 30, 1992, compared with $166 million at Dec. 31, 1991. Deposits totaled $215 million at June 30, 1992, compared with $224 million at Dec. 31, 1991.
 For the six-month period ending June 30, 1992, the company reported an unaudited net loss of $2.3 million, which reflects adjustments as a result of a re-evaluation of loan loss reserves and recent exams of Escondido National Bank and Temecula Valley National Bank by the Office of the Comptroller of the Currency. The company is in the process of amending March 31, 1992, and June 30, 1992, regulatory filings to reflect these adjustments in the appropriate periods. The loss was due to the company setting aside additional loan loss reserves totalling $3.8 million, and write-downs totaling $364,000 of other real estate owned and insubstance foreclosure for the first six months of 1992. These provisions were necessary because of the detrimental effects of the continuing recession on borrowers ability to repay loans, and the continuing decline of real estate values in Southern California. The reserve for loan loss balance increased to $4.2 million, or 2.7 percent of gross loans at June 30, 1992, compared with $3.0 million, or 1.8 percent of gross loans at Dec. 31, 1991.
 The loss for the first six months was primarily attributable to Temecula Valley National Bank and, to a lesser extent, Escondido National Bank. Subsidiary San Marcos National Bank remained profitable through the first half of 1992.
 The company reported that non-performing assets decreased $1.4 million, from $7.7 million (or 3.16 percent of total assets) at Dec. 31, 1991, to $6.3 million (or 2.71 percent of total assets) at June 30, 1992, representing a 19 percent decrease in the six-month period. Non-performing loans of $2.9 million at June 30, 1992, totaled 1.8 percent of gross loans outstanding compared with $6.3 million or 3.8 percent at Dec. 31, 1991. Other real estate owned and insubstance foreclosures totaled $3.4 million at June 30, 1992, or 1.5 percent of total assets compared with $1.3 million, or .6 percent of total assets at Dec. 31, 1991.
 The company's capital ratios remain above regulatory minimums, with a risk-based capital ratio of 9.56 percent, and core capital ratio of 6.23 percent at June 30, 1992.
 -0- 8/25/92
 /CONTACT: Harvey L. Williamson, president and CEO of ENB Holding Co., 619-741-3312, ext. 201/ CO: ENB Holding Co. ST: California IN: FIN SU: ERN


JB-AL -- SD004 -- 3123 08/25/92 15:33 EDT
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Date:Aug 25, 1992
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