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FIRST BANCORPORATION OF OHIO ANNOUNCES THIRD QUARTER RESULTS

 FIRST BANCORPORATION OF OHIO ANNOUNCES THIRD QUARTER RESULTS
 AKRON, Ohio, Oct. 8 /PRNewswire/ -- Howard L. Flood, president and chief executive officer of First Bancorporation of Ohio (NASDAQ: FBOH) announced today 1992 third quarter earnings of $12,692,000, compared to $10,118,000 one year ago. For the nine month period ended Sept. 30, 1992, net income was $37,042,000 compared to $29,411,000 one year ago, an increase of 26 percent. Earnings per share for the third quarter were $1.02 compared to last year's earnings of $.81 per share. For the nine month period, earnings per share totaled $2.95 compared to $2.34 one year ago.
 The authorized dividend rate for the third quarter of 1992 was $.405 per share for an annual indicated rate of $1.62 per share. Shareholders' equity is now $349,753,000 or an increase of 8.5 percent, $27ed assets were $3,776,728,000.
 The Financial Accounting Standards Board issued in December 1990, Statement No. 106, "Employers' Accounting for Postretirement Benefits Other Than Pensions" (SFAS No. 106), requires the cost of all postretirement benefits expected to be provided by an employer to current and future employees be accrued over those employees' service periods. This statement becomes effective for all corporations as of Jan. 1, 1993. Flood announced today that the corporation's liability under SFAS No. 106 is approximately $18,000,000.
 Under the statement, adoption on a prospective basis allows corporations to spread this expense for as long as 20 years. The corporation anticipates adopting on a prospective basis. Flood stated such adoption would have minimal impact on future earnings. Management has not yet determined the precise amortization schedule that will be implemented.
 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 September 30
 Change 1992 1991
 Total assets 0.8 $3,776,728,000 $3,745,739,000
 Total loans 4.1 2,309,332,000 2,218,687,000
 Allowance for loan losses 10.8 28,095,000 25,367,000
 As a percent of
 outstanding loans --- 1.22 1.14
 Deposits (0.3) 3,229,102,000 3,240,351,000
 Shareholders' equity 8.5 349,753,000 322,283,000
 Book value per share 8.3 27.79 25.67
 Market value per share 28.8 40.25 31.25
 Percent Quarter Ended September 30,
 Change 1992 1991
 Net income 25.4 12,692,000 10,118,000
 Net income per share 1.02 0.81
 Dividend paid per share 0.41 0.40
 Return on assets (pct) 1.33 1.08
 Return on equity (pct) 14.61 12.58
 Securities gains, net 433,000 188,000
 Provision for possible
 loan losses 3,358,000 3,272,000
 Percent Year-To-Date
 Change 1992 1991
 Net income 25.9 37,042,000 29,411,000
 Net income per share 2.95 2.34
 Dividend paid per share 1.22 1.20
 Return on assets (pct) 1.32 1.07
 Return on equity (pct) 14.62 12.51
 Securities gains, net 1,361,000 395,000
 Provision for possible
 loan losses 11,619,000 7,336,000
 -0- 10/8/92
 /CONTACT: Gary J. Elek, 216-384-7136 (investor); or Mary Nell Hoover, 216-384-7510 (media); both of First Bancorporation of Ohio/
 (FBOH) CO: First Bancorporation of Ohio ST: Ohio IN: FIN SU: ERN


KK -- CL005 -- 8080 10/08/92 17:02 EDT
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Date:Oct 8, 1992
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