Printer Friendly

METRO FINANCIAL CORPORATION THIRD QUARTER RESULTS

 SANDY SPRINGS, Ga., Oct. 12 /PRNewswire/ -- Metro Financial Corp. (NASDAQ-NMS: MFIN), the parent company of Metro Bank of Atlanta, reported net income of $425,093, or $.32 per share, for the third quarter of 1993, up from $276,073, or $.23 per share, for the third quarter of 1992.
 The principle reasons for the increase in earnings include increased net interest income and fee income.
 For the first nine months, the company earned $1,110,718, or $.87 per share, up from $647,362, or $.54 per share, a year earlier.
 At Sept. 30, non-performing assets were $619,000, or .60 percent of total loans and real estate owned, compared to $1,231,000 or 1.28 percent of total loans and real estate owned, at the prior quarter-end. The company set aside $268,000 in the third quarter to cover possible loan losses compared to $340,000 for the same period in 1992.
 As of Sept. 30, Metro had total assets of $146.8 million compared with $134.2 million a year earlier. Metro Bank is headquartered in Sandy Springs, with a full service office in Buckhead and a mortgage banking office in the Embassy Row Office Park.
 The company's stock is listed on the NASDAQ National Market System under the symbol MFIN.
 -0- 10/12/93
 /CONTACT: Dede Bowles of Metro Financial Corp., 404-255-8550/
 (MFIN)


CO: Metro Financial Corporation ST: Georgia IN: FIN SU: ERN

CF-RA -- AT016 -- 1315 10/12/93 17:02 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 12, 1993
Words:246
Previous Article:SONAT OFFSHORE DRILLING NAMES A. LAINE POWELL DIRECTOR OF INVESTOR RELATIONS
Next Article:CAROLINA FIRST BANCSHARES REPORTS RESULTS
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters