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INVESTORS TITLE ANNOUNCES RESULTS

 CHAPEL HILL, N.C., April 27 /PRNewswire/ -- J. Allen Fine, president and chairman of the board of Investors Title Company (NASDAQ-NMS: ITIC), announced that for the three months ended March 31, 1993, net income before a cumulative adjustment from the adoption of Statement of Financial Accounting Standards No. 109 ("FASB 109") in the prior year increased 17 percent from $315,784 to $370,031, premiums written decreased 9 percent from $3,094,948 to $2,815,052, investment income increased 21 percent from $204,481 to $247,617, and revenues decreased 7 percent from $3,333,089 to $3,091,201 all compared to the same quarter in 1992. Net income per share before the FASB 109 adjustment totaled $.13 for the first quarter, an increase of 18 percent compared to $.11 in the first quarter last year.
 Investors Title Company is a publicly held North Carolina company whose stock is traded on the NASDAQ National Market (Symbol: ITIC). The company's two title insurance subsidiaries write title insurance on real property primarily in the Southeast.
 Another subsidiary, Investors Title Exchange Corporation, provides assistance to attorneys and to certified public accountants in structuring delayed tax-free exchanges for their clients.
 -0- 4/27/93
 /CONTACT: Elizabeth P. Bryan, Investors Title Company, 919-968-2200/
 (ITIC)


CO: Investors Title Company ST: North Carolina IN: INS SU: ERN

SB -- CH002 -- 1231 04/27/93 10:16 EDT
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Publication:PR Newswire
Date:Apr 27, 1993
Words:231
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