FIFTH CONSECUTIVE YEAR OF RECORD EARNINGS INDICATED BY CENTRAL MORTGAGE BANCSHARES, INC.
KANSAS CITY, Mo., Jan. 15 /PRNewswire/ -- Central Mortgage Bancshares, Inc. (CMBI) (NASDAQ-NMS: CMBI), preliminary results indicate record annual earnings for the fifth consecutive year. Annual earnings for the year ending Dec. 31, 1992, were $3,737,370 compared to 1991 annual earnings of $2,941,673 -- a 27 percent increase. The fully diluted earnings per share were $1.52 for 1992, compared to $1.35 per share for 1991. The company reported record fourth quarter earnings of $1,100,237 with fully diluted earnings per share of 36 cents. Fourth quarter earnings in 1991 were $714,394 with fully diluted earnings per share of 34 cents. Central Mortgage Banchshares is the parent company of Citizens- Jackson County Bank which has offices in Kansas City, Independence, Lee's Summit, Blue Springs and Warrensburg. CMBI common stock began trading on the NASDAQ National Market System in October 1992, in connection with an $11.1 million public offering of common stock. According to Lynn A. Harmon, chairman of the board of CMBI: "The exceptionally large increase in earnings for the past year is primarily attributable to the satisfactory assimilation of deposits purchased from the Resolution Trust Corporation in 1992." In addition to Citizens-Jackson County Bank, CMBI operates three other subsidiary banks. They are Barton County State Bank in Lamar, Citizens State Bank of Nevada and Farmers Bank of Stover. The company's Mortgage Banking Division is headquartered in Springfield with branches in Blue Springs and Joplin. -0- 1/15/93 /CONTACT: Lynn A. Harmon of Central Mortgage Bancshares, 816-229-2201/ (CMBI)
CO: Central Mortgage Bancshares, Inc. ST: Missouri IN: FIN SU: ERN
DC -- DC011 -- 5352 01/15/93 12:03 EST
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|Date:||Jan 15, 1993|
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