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FIRST BANCORPORATION OF OHIO ANNOUNCES SECOND QUARTER RESULTS

 AKRON, Ohio, July 13 /PRNewswire/ -- Howard L. Flood, president and chief executive officer of First Bancorporation of Ohio (NASDAQ: FBOH), announced today 1993 second quarter earnings of $14,266,000 compared to $12,122,000 one year ago. For the six month period ended June 30, 1993, net income was $27,445,000 compared to $24,350,000 one year ago, an increase of 13 percent. Earnings per share for the second quarter were $1.13 compared to last year's earnings of $.96 per share. For the six month period, earnings per share totaled $2.18 compared to $1.93 one year ago.
 Return on average assets for the second quarter of 1993 was 1.46 percent and 1.43 percent year-to-date, while return on average equity was 15.48 percent and 15.10 percent, respectively. At the conclusion of the reportable financial period, consolidated assets were $3,892,092,000.
 The authorized dividend rate for the second quarter of 1993 was $.43 per share for an annual indicated rate of $1.72 per share. Shareholders' equity is now $375,336,000, an increase of 10 percent, or $33,380,000, over June 30, 1992.
 First Bancorporation's wholly owned subsidiaries, First National Bank of Ohio, Elyria Savings & Trust National Bank, Old Phoenix National Bank, Peoples Federal Savings Bank-Wooster, The First National Bank in Massillon and Peoples Savings Bank-Ashtabula serve Summit, Cuyahoga, Medina, Lorain, Stark, Wayne, Portage, Erie, Richland, Knox, Ashtabula, Lake and Geauga counties. Bancorp Trust Company, N.A. serves the Naples, Fla. area.
 FIRST BANCORPORATION OF OHIO
 Comparative Statistics
 Percent June 30,
 Change 1993 1992
 Total assets 4.0 $3,892,092,000 $3,743,203,000
 Total loans 3.9 2,373,980,000 2,284,514,000
 Allowance for loan losses 13.7 30,451,000 26,790,000
 As a percent of
 outstanding loans --- 1.28 1.17
 Deposits 3.3 3,345,113,000 3,236,943,000
 Shareholders' equity 9.8 375,336,000 341,956,000
 Book value per share 9.5 29.77 27.19
 Market value per share 17.3 47.50 40.50
 Percent Quarter Ended June 30,
 Change 1993 1992
 Net income 17.7 $14,266,000 $12,122,000
 Net income per share 1.13 0.96
 Return on assets (pct) 1.46 1.30
 Return on equity (pct) 15.48 14.40
 Securities gains, net (2,000) 526,000
 Provision for possible
 loan losses 1,869,000 4,097,000
 Average common shares
 outstanding 12,606,490 12,575,599
 Percent Year-To-Date
 Change 1993 1992
 Net income 12.7 $27,445,000 $24,350,000
 Net income per share 2.18 1.93
 Return on assets (pct) 1.43 1.31
 Return on equity (pct) 15.10 14.62
 Securities gains, net (53,000) 928,000
 Provision for possible
 loan losses 3,789,000 8,261,000
 Average common shares
 outstanding 12,603,613 12,570,618
 -0- 7/13/93
 /CONTACT: Mary Nell Hoover, senior vice president, First Bancorporation of Ohio, 216-384-7510/
 (FBOH)


CO: First Bancorporation of Ohio ST: Ohio IN: FIN SU: ERN

AR -- CL013 -- 0961 07/13/93 14:36 EDT
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Date:Jul 13, 1993
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