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FIRST BANCORPORATION OF OHIO REPORTSRECORD EARNINGS, UP 28 PERCENT

 AKRON, Ohio, Jan. 14 /PRNewswire/ -- Howard L. Flood, president and chief executive officer of First Bancorporation of Ohio (NASDAQ: FBOH) announced record earnings of $50,700,000 for 1992 a 28 percent increase from the $39,558,000 earned in 1991. Earnings per share increased from $3.15 in 1991 to $4.03 in 1992.
 Earnings for the fourth quarter of 1992 were also at a record high totaling $13,658,000 compared to $10,147,000 one year ago. On an earnings per share basis, net income equaled $1.08 compared to $.81 in the last quarter of 1991.
 "As noted at the end of the third quarter, we continue to see earnings positively impacted by the interest margin and improvement in other income," stated Mr. Flood. Positive trends were also noted in the growth of loans and deposits, with both showing an increase over the prior year.
 Shareholders' equity at December 31, 1992 totaled $358,265,000, an increase of 9.4 percent compared to last year. The financial strength of First Bancorporation of Ohio is also reflected by its capital to asset ratio of 9.15 percent, which places the corporation well above both regulatory guidelines and its peer bank companies.
 Return on average assets for the quarter totaled 1.41 percent bringing the year-to-date return to 1.34 percent. This compares to a return of 1.07 percent for the same periods a year ago. Return on average equity for the fourth quarter increased to 15.32 percent, up from 12.40 percent for the same period last year. For the year, the return of average equity was 14.80 percent compared to 12.50 percent one year ago.
 First Bancorporation's wholly owned subsidiaries, First National Bank of Ohio, Old Phoenix National Bank, Elyria Savings & Trust 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 December 31,
 Change 1992 1991
 Total assets 4.0 $3,916,198,000 $3,765,739,000
 Total loans 3.3 2,321,778,000 2,248,377,000
 Allowance for loan losses 17.6 29,193,000 24,829,000
 As a percent of
 outstanding loans --- 1.26 1.10
 Deposits 3.6 3,384,113,000 3,267,819,000
 Shareholders' equity 9.4 358,265,000 327,433,000
 Book value per share 9.1 28.44 26.07
 Market value per share 24.3 46.63 37.50
 Percent Quarter Ended December 31,
 Change 1992 1991
 Net income 34.6 13,658,000 10,147,000
 Net income per share 1.08 0.81
 Dividend paid per share 0.43 0.41
 Return on assets (pct) 1.41 1.07
 Return on equity (pct) 15.32 12.40
 Securities gains, net 7,000 74,000
 Provision for possible
 loan losses 5,744,000 4,037,000
 Percent Year-To-Date
 Change 1992 1991
 Net income 28.2 50,700,000 39,558,000
 Net income per share 4.03 3.15
 Dividend paid per share 1.65 1.61
 Return on assets (pct) 1.34 1.07
 Return on equity (pct) 14.80 12.50
 Securities gains, net 1,368,000 469,000
 Provision for possible
 loan losses 17,363,000 11,373,000
 -0- 1/14/93
 /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

BM -- CL007 -- 4863 01/14/93 12:07 EST
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Date:Jan 14, 1993
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