Printer Friendly

F & C BANCSHARES REPORTS INCREASED EARNINGS FOR FISCAL YEAR 1992

 F & C BANCSHARES REPORTS INCREASED EARNINGS FOR FISCAL YEAR 1992
 PUNTA GORDA, Fla., July 14 /PRNewswire/ -- F & C Bancshares, Inc. (NASDAQ: FSCC) today reported that consolidated net earnings for 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.
 During the fiscal year, additional mortgage-backed securities were purchased, increasing the portfolio balance $19,924,179, or 50.0 percent. Interest-bearing deposits in other banks increased $56,451,319, or 98.9 percent. Loans receivable decreased $14,290,210, or 5.8 percent, as a result of the nationwide recession and local economic slowdown in home construction and real estate sales.
 Total assets as of June 30, 1992, were $429,000,761 compared to total assets of $363,642,057 at June 30, 1991, an increase of $65,358,704, or 18.0 percent. Deposits increased $64,886,614, or 20.4 percent from $318,151,038 to $383,037,652. With 3,213,629 shares of common stock outstanding on June 30, 1992, stockholders' equity of $43,207,738 represents an approximate book value of $13.45 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- 7/14/92
 /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: ERN


AW-JB -- FL008 -- 9132 07/14/92 13:00 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 14, 1992
Words:347
Previous Article:TOYOTA ANNOUNCES DIE-MAKING OPERATION; WILL CREATE OPPORTUNITIES FOR U.S. SUPPLIERS
Next Article:AVERAGE EARNINGS OF RETAIL BROKERS ROSE TO RECORD IN 1991, SIA SURVEY SHOWS; INSTITUTIONAL BROKER EARNINGS ALSO ADVANCED
Topics:


Related Articles
FEDFIRST BANCSHARES, INC. ANNOUNCES FISCAL SECOND QUARTER RESULTS
CHARTER BANCSHARES REPORTS A 70 PERCENT RISE IN 1992 SECOND QUARTER EARNINGS; ANNOUNCES 5 PERCENT COMMON STOCK DIVIDEND
FEDFIRST BANCSHARES, INC., ANNOUNCES 45 PERCENT INCREASE IN EARNINGS FOR FISCAL YEAR ENDED JUNE 30, 1992
FIRSTFED BANCSHARES INC. REPORTS RESULTS
FEDFIRST BANCSHARES, INC. ANNOUNCES 44 PERCENT INCREASE IN EARNINGS FOR FISCAL FIRST QUARTER ENDED SEPT. 30, 1992
FIRST CITIZENS REPORTS INCREASED THIRD QUARTER EARNINGS
F & C BANCSHARES, INC. REPORTS SECOND QUARTER EARNINGS
FIFTH CONSECUTIVE YEAR OF RECORD EARNINGS INDICATED BY CENTRAL MORTGAGE BANCSHARES, INC.
FIRST CITIZENS BANCSHARES REPORTS INCREASED EARNINGS FOR YEAR
REGENCY BANCSHARES INC. ANNOUNCES ANNUAL FINANCIAL RESULTS

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters