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F & C BANCSHARES ANNOUNCES FOURTH QUARTER DIVIDEND AND SPECIAL DIVIDEND

F & C BANCSHARES ANNOUNCES FOURTH QUARTER DIVIDEND AND SPECIAL DIVIDEND
 PUNTA GORDA, Fla., July 16 /PRNewswire/ -- F & C Bancshares, Inc. (NASDAQ: FSCC) announced today that the board of directors voted to pay a quarterly cash dividend of $.15 per share for the fourth quarter of 1992. First, second, and third quarter cash dividends of $.15 per share were paid on Nov. 15, 1991, Feb. 14, 1992, and May 11, 1992, respectively. With the current dividend of $.15 per share, the total dividends paid from the earnings of this fiscal year total $.60 per share.
 In addition to the regular quarterly cash dividend, the board also declared a special cash dividend of $.20 per share, giving total dividends for the fiscal year of $.80 per share for an aggregate cash dividend payout of $2,566,471. Both the regular dividend of $.15 per share and the special dividend of $.20 per share will be payable Aug. 10, 1992, to shareholders of record July 31, 1992.
 In a news release dated July 14, 1992, F & C Bancshares, Inc. reported that consolidated net earnings for the fiscal year ended June 30, 1992, were $3,615,493, or $1.11 per share, compared to net earnings for fiscal year ended June 30, 1991, of $2,750,473, or $.85 per share, an increase of 31.5 percent.
 Consolidated net earnings for the fourth quarter ended June 30, 1992 were $1,076,254, or $0.33 per share, compared to net earnings of $627,138, or $0.20 per share, for the fourth quarter ended June 30, 1991, an increase of 71.6 percent.
 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- 7/16/92
 /CONTACT: Linda A. Labor, corporate secretary of F & C Bancshares, Inc., 813-637-3214/
 (FSCC) CO: F & C Bancshares, Inc. ST: Florida IN: FIN SU: DIV


AW-JB -- FL012 -- 9758 07/16/92 12:39 EDT
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Publication:PR Newswire
Date:Jul 16, 1992
Words:361
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