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MID AM, INC. EARNINGS INCREASE

 MID AM, INC. EARNINGS INCREASE
 BOWLING GREEN, Ohio, April 10 /PRNewswire/ -- Mid Am, Inc.


(NASDAQ: MIAM) today announced net income for the first quarter of 1992 of $3.243 million, up 24.8 percent from the $2.597 million earned in the first quarter of last year. Earnings per share totaled $.54, up 22.7 percent from the $.44 earned in the same period of 1991.
 In addition to strong earnings, asset quality ratios far surpassed those of the most recently available peer group averages. Mid Am, Inc. continued to reduce the level of non-performing loans. At March 31, non-performing loans were .62 percent of total loans, down from .88 percent reported at Dec. 31, 1991. The loan loss reserve was nearly 216 percent of non-performing loans at March 31, 1992.
 Non-performing assets declined to 1.09 percent of total assets, from the Dec. 31, 1991 level of 1.28 percent.
 Loans grew over 12 percent to $891 million, due primarily to mortgage loan refinancing activity. Assets totaled $1.245 billion and deposits grew to $1.141 billion, both up slightly over 5 percent from March 31, 1991 levels.
 "We are pleased with our operating results, especially in a difficult economy. Early signs of an economic recovery, coupled with our current performance, make us optimistic about our ability to maintain these high levels of performance," commented Edward J. Reiter, chairman and chief executive officer.
 Also during the first quarter, Mid Am announced a preliminary agreement to acquire Ultra Bancorp, Xenia, Ohio, a $200 million thrift holding company that owns Home Federal Savings Bank. With this acquisition, Mid Am will enter new but adjacent markets, with ten additional offices in eight communities -- Xenia, Dayton, Kettering, Beavercreek, Cedarville, Monroe, Springboro, and Montgomery. Reiter commented, "Home Federal brings us into the very attractive markets of Dayton and Cincinnati, and is a logical expansion to the Mid Am network of financial institutions."
 In March, Mid Am announced the filing of a registration statement with the Securities and Exchange Commission regarding a proposed public offering of one million shares of Cumulative Convertible Preferred Stock. The offering is expected to commence in May, 1992, with the proceeds to be used for general corporate purposes including possible future acquisitions.
 Mid Am, Inc. is a financial services holding company owning Mid American National Bank & Trust Company, Bowling Green, Ohio; First National Bank Northwest Ohio, Bryan; The Farmers Banking Company, N.A., Lakeview; The Citizens Loan & Building Company, Lima; and Mid Am Information Services, Inc., the company's data processing affiliate.
 Following the purchase of four offices of Society Bank & Trust located in Napoleon, Liberty Center and Montpelier, and the pending acquisition of Ultra Bancorp, Mid Am will have 66 offices in 17 counties throughout Northwest, West Central Ohio, and Southwest Ohio.
 MID AM, INC.
 Statement of Earnings
 Dollars in thousands, Three months ended Percent
 except per share data March 31 Change
 1992 1991
 Taxable equivalent interest
 income $26,586 $28,372 (6.3)
 Interest income 26,119 27,896 (6.4)
 Interest expense 13,450 16,983 (20.8)
 Net interest income 12,669 10,913 16.1
 Provision for
 credit losses 978 1,312 (25.5)
 Non-interest income 1,581 2,207 (28.4)
 Non-interest expense 8,924 8,612 3.6
 Income before income taxes
 and extraordinary item 4,348 3,196 36.0
 Income Taxes 1,214 815 49.0
 Income before
 extraordinary item 3,134 2,381 31.6
 Realization of operating
 loss carryforward 109 216 (49.5)
 Net income $3,243 $2,597 24.9
 Per Common Share Data
 Earnings per share before
 extraordinary item $0.52 $0.40 30.0
 Earnings per share 0.54 0.44 22.7
 Dividend declared 0.24 0.24 0.0
 Book value 12.85 12.71 1.1
 Key Ratios
 Return on:
 Average total assets 1.05 pct. 0.90 pct.
 Average shareholders' equity 16.96 pct. 14.02 pct.
 Average equity/Average assets 6.19 pct. 6.41 pct.
 Net interest margin
 tax equivalent basis 4.53 4.15
 Statement of Condition Data
 Average for the Quarter:
 Total assets $1,242,784 $1,173,119 5.9
 Loans and leases 866,635 797,887 8.6
 Deposits 1,128,899 1,068,472 5.7
 Shareholders' Equity 76,922 75,140 2.4
 At March 31, 1992:
 Total assets $1,245,269 $1,184,009 5.2
 Loans and leases 890,735 802,400 11.0
 Deposits 1,141,044 1,083,252 5.3
 Shareholders' equity 77,040 74,879 2.9
 Dec. 31
 Asset Quality: 1991
 Non-performing loans/leases $5,540 $14,887 $7,286
 Other real estate owned
 (OREO) 8,084 3,393 8,492
 Non-performing loans and
 leases as a percentage of
 Total loans and leases (pct.) 0.62 1.86 0.88
 Allowance for credit losses
 as a percentage of non-
 performing loans
 and leases (pct.) 215.94 59.67 154.06
 Allowance for credit losses
 as a percentage of total
 loans and leases (pct.) 1.34 1.07 1.36
 Non-performing loans and
 leases and OREO as a
 percentage of total
 assets (pct.) 1.09 1.54 1.28
 -0- 4/9/92
 /CONTACT: Dennis L. Nemec, executive vice president, or Cynthia A. Rossman, senior vice president/investor relations, both of Mid Am Inc., 419-352-5271/
 (MIAM) CO: Mid Am, Inc. ST: Ohio IN: FIN SU: ERN


KK -- CL001 -- 7042 04/10/92 07:37 EDT
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Date:Apr 10, 1992
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