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FULTON FINANCIAL REPORTS RECORD INCOME FOR 1992

 LANCASTER, Pa., Jan. 19 /PRNewswire/ -- Fulton Financial Corp. (NASDAQ-NMS: FULT), a $2.2 billion Lancaster-based multibank holding company, today announced record income for the fourth quarter and year ended Dec. 31, 1992.
 Primary per-share earnings of $2.02 for the year were 5.2 percent ahead of the $1.92 earned in 1991. Net income of $26.6 million for 1992 compared with $24.9 million a year earlier.
 Fourth quarter income per share on a primary basis was up 4.1 percent to 51 cents from 49 cents the prior year. Net income was $6.8 million and $6.4 million for the fourth quarters of 1992 and 1991, respectively.
 (Fully diluted income per share was $2 and $1.90 for the years and 51 cents and 48 cents for the fourth quarters of 1992 and 1991, respectively.)
 (All financial data are unaudited.)
 Rufus A. Fulton Jr., president and chief executive officer, said, "In a year which experienced mixed economic results, we are pleased with the solid earnings growth we enjoyed in 1992. It was the 11th consecutive year of record income for the corporation."
 Fulton credited much of Fulton Financial's success in 1992 to exceptional asset quality and increases in both net interest income (6.4 percent) and noninterest income (26.8 percent).
 For 1992, Fulton Financial recorded a return of average assets of 1.3 percent and a return on average shareholders' equity of 14.3 percent.
 Shareholders' equity grew 9.1 percent or $16.5 million, increasing the corporation's capital position to over $198 million.
 At year-end 1992, Fulton Financial had total assets of $2.2 billion, deposits of $1.9 billion and net loans of $1.4 billion.
 Fulton Financial operates 71 banking offices in 10 Pennsylvania counties through six affiliates -- Fulton Bank, Farmers Trust Bank, Swineford National Bank, Lafayette Bank, First National Bank of Danville and Great Valley Savings Bank.
 /delval/
 -0- 1/19/93
 /CONTACT: Earl A. Popp of Fulton Financial, 717-291-2616/
 (FULT)


CO: Fulton Financial Corporation ST: Pennsylvania IN: FIN SU: ERN

MK-JS -- PH009 -- 6268 01/19/93 11:16 EST
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Publication:PR Newswire
Date:Jan 19, 1993
Words:349
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