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F & C BANCSHARES, INC. REPORTS SECOND QUARTER EARNINGS

 PUNTA GORDA, Fla., Jan. 11 /PRNewswire/ -- F & C Bancshares, Inc. (NASDAQ: FSCC) today reported that consolidated net earnings for the second quarter ended Dec. 31, 1992, were $937,886, or $.29 per share, as compared to earnings of $833,737, or $.25 per share for the same period of 1991.
 Total assets as of Dec. 31, 1992, were $431,937,496 as compared to $429,000,761 at June 30, 1992, an increase of $2,936,735. In this six- month period, additional mortgage-backed securities were purchased, increasing the portfolio balance $9,725,352, and loans receivable decreased $8,917,414.
 Net income for the six months ended Dec. 31, 1992, was $1,905,185, or $.58 per share, as compared to $1,731,442, or $.53 per share, for the same period of 1991. Cash dividends aggregating $1,609,470 were paid during the first and second quarters of fiscal 1993, and stockholders' equity increased $352,095 from $43,207,738 at June 30, 1992, to $43,559,833 at Dec. 31, 1992. The 3,221,384 shares of common stock currently outstanding represent an approximate book value of $13.52 per share.
 F & C Bancshares' wholly owned subsidiary, First Federal Savings Bank of Charlotte County, continues to meet and exceed all the fully phased-in capital requirements mandated by the Financial Institutions Reform, Recovery and Enforcement Act of 1989. The Savings Bank is located in southwest Florida and operates seven offices which serve Charlotte and south Sarasota Counties.
 -0- 1/11/93
 /CONTACT: Linda A. Labor, corporate secretary of F & C Bancshares, 813-625-9114/
 (FSCC)


CO: F & C Bancshares, Inc. ST: Florida IN: FIN SU: ERN

JB-JJ -- FL012 -- 3585 01/11/93 13:43 EST
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Date:Jan 11, 1993
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