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MID AM, INC. POSTS ANOTHER RECORD QUARTER

 BOWLING GREEN, Ohio, Oct. 13 /PRNewswire/ -- Mid Am, Inc.'s (NASDAQ: MIAM, MIAMP) net income for the third quarter of 1993 was $5.86 million, an increase of approximately 27.5 percent from the same period of the prior year. Year-to-date earnings were $16.85 million, up 40.2 percent from the $12.02 million earned for the same period last year, excluding a 1992 non-recurring tax benefit. For the year-to-date, earnings per share were $1.13 ($1.05 fully diluted), up from $.95 ($.92 fully diluted) for the same period in 1992 excluding the 1992 non- recurring tax benefit. (1992's first quarter net income included a non- recurring tax benefit of $1.37 million or $.12 per share ($.11 fully diluted) related to the adoption of Statement of Financial Accounting Standard No. 109 "Accounting for Income Taxes.") Per share information has been adjusted to reflect the company's Oct. 10, 1993 three-for-two stock split. Also, financial information for 1992 has been restated to give effect to the March 19, 1993 acquisition of Apollo Savings and Loan Company and the July 6, 1993 acquisition of Colonial Federal Savings Bank, which were accounted for as poolings of interests.
 Third quarter earnings represented an annualized return on average assets of 1.09 percent and a return on common shareholders' equity of 16.90 percent.
 Asset quality trends continues to be favorable. Non-performing assets were 1.26 percent of total loans and foreclosed assets, down from 1.34 percent at June 30, 1993. The ratios of non-accrual loans to total loans and non-performing loans to total loans continue to be low at .43 percent and .63 percent, respectively. At Sept. 30, 1993, the company's loan loss reserve was 181 percent of non-performing loans.
 "We continue to be very pleased with our earnings performance, which we attribute primarily to our mortgage banking activities resulting in higher income from the increased mortgage loan production and gains on sales of loans in the secondary market," stated Dennis L. Nemec, chief financial officer. "We look forward to continuing our strong performance in the final quarter of 1993."
 Mid Am, Inc. is a financial institution holding company. Affiliates include Mid American National Bank & Trust Company, Toledo and Bowling Green; First National Bank Northwest Ohio, Bryan; American Community Bank, N.A., Lima and Bellefontaine; AmeriFirst Bank, Xenia and Cincinnati; and Mid Am Information Services, Inc., Bowling Green, the company's data processing affiliate.
 MID-AM, INC. and Subsidiaries
 Statement of Earnings
 (unaudited) -- ($000's)
 For Nine Months Ended Sept. 30
 1993 1992 Pct. Change
 Interest income 93,489 87,282 7.1
 Interest expense 41,579 44,146 (5.8)
 Net interest income 51,910 43,136 20.3
 Provision for credit losses 2,577 2,984 (13.6)
 Net interest income after
 provision for credit losses 49,333 40,152 22.9
 Non-interest income
 Trust department 683 556 22.8
 Service charges on accounts 3,812 3,260 16.9
 Net investment securities
 gains (losses) 1,822 (114) N/A
 Net gains on sales of loans 7,772 1,535 406.3
 Other income 4,517 3,437 31.4
 Total 18,606 8,674 114.5
 Non-interest expense
 Salaries and employee benefits 19,651 13,324 47.5
 Net occupancy expense 3,291 2,253 46.1
 Equipment expense 4,483 3,151 42.3
 Other expenses 16,171 13,262 21.9
 Total 43,596 31,990 36.3
 Income before income taxes and
 change in accounting principle 24,343 16,836 44.6
 Applicable income taxes 7,497 4,820 55.5
 Income before change in
 accounting principle 16,846 12,016 40.2
 Cumulative effect of change in
 accounting principle 0 1,373 (100.0)
 Net income $16,846 $13,389 25.8
 Net income available to
 common shareholders $14,658 $12,511 17.2
 MID-AM, INC. and Subsidiaries
 Statement of Earnings
 (unaudited) -- ($000's)
 For Three Months Ended Sept. 30
 1993 1992 Pct. Change
 Interest income 31,851 28,249 12.8
 Interest expense 14,195 13,489 5.2
 Net interest income 17,656 14,760 19.6
 Provision for credit losses 931 953 (2.3)
 Net interest income after
 provision for credit losses 16,725 13,807 21.1
 Non-interest income
 Trust department 272 212 28.3
 Service charges on accounts 1,336 1,109 20.5
 Net investment securities
 gains (losses) 873 (257) N/A
 Net gains on sales of loans 3,090 1,985 55.7
 Other income 1,621 1,241 30.6
 Total 7,192 4,290 67.6
 Non-interest expense
 Salaries and employee benefits 6,940 5,010 38.5
 Net occupancy expense 1,190 765 55.6
 Equipment expense 1,562 1,170 33.5
 Other expenses 5,844 4,541 28.7
 Total 15,536 11,486 35.3
 Income before income taxes and
 change in accounting principle 8,381 6,611 26.8
 Applicable income taxes 2,517 2,013 25.0
 Income before change in
 accounting principle 5,864 4,598 27.5
 Cumulative effect of change in
 accounting principle 0 0 N/A
 Net income $5,864 $4,598 27.5
 Net income available to
 common shareholders $5,135 $3,864 32.9
 MID-AM, INC. and Subsidiaries
 Financial Summary -- (unaudited)
 ($000's except per share data)
 For Nine Months Ended Sept. 30
 1993 1992 Pct. Change
 Per common share data:
 Primary:
 Income before change in
 accounting principle $1.13 $0.95 18.9
 Earnings per share 1.13 1.07 5.6
 Fully diluted:
 Income before change in
 accounting principle 1.05 0.92 14.1
 Earnings per share 1.05 1.03 1.9
 Cash dividend paid on common
 share 0.48 0.45 6.7
 Book value per common share 9.30 8.17 13.8
 Average shares outstanding 12,938,858 11,695,185
 Average fully diluted
 shares outstanding 16,022,870 13,055,880
 Performance Ratios
 Net interest spread - FTE 3.87 pct. 3.88 pct.
 Net interest margin - FTE 4.27 4.43
 Return on average assets
 excluding change in
 accounting principle 1.10 1.04
 Return on average assets 1.10 1.17
 Return on average common
 shareholders' equity
 excluding change in
 accounting principle 16.70 15.49
 Return on average common
 shareholders' equity 16.70 17.40
 Balance at Sept. 30
 Total assets $1,872,375 $1,474,016 27.0
 Loans - net of unearned
 income 1,156,029 942,432 22.7
 Loans held for sale 112,665 68,931 63.4
 Total deposits 1,605,371 1,309,401 22.6
 Common shareholders' equity 121,284 98,331 23.3
 Total shareholders' equity 161,534 138,581 16.6
 Average Balances for Nine
 Months Ended Sept. 30
 Total assets $1,784,644 $1,426,564 25.1
 Loans - net of unearned
 income 1,115,055 948,973 17.5
 Loans held for sale 74,311 60,631 22.6
 Total deposits 1,535,812 1,281,717 19.8
 Common shareholders' equity 117,333 96,067 22.1
 Total shareholders' equity 157,583 111,958 40.8
 MID-AM, INC. and Subsidiaries
 Financial Summary -- (unaudited)
 ($000's except per share data)
 For Three Months Ended Sept. 30
 1993 1992 Pct. Change
 Per common share data:
 Primary:
 Income before change in
 accounting principle $0.39 $0.33 18.2
 Earnings per share 0.39 0.33 18.2
 Fully diluted:
 Income before change in
 accounting principle 0.36 0.31 16.1
 Earnings per share 0.36 0.31 16.1
 Cash dividend paid on common
 share 0.16 0.15 6.7
 Average shares outstanding 13,002,099 11,749,347
 Average fully diluted
 shares outstanding 16,066,514 14,874,539
 Performance Ratios
 Net interest spread - FTE 3.75 pct. 3.87 pct.
 Net interest margin - FTE 4.12 4.45
 Return on average assets
 excluding change in
 accounting principle 1.09 1.06
 Return on average assets 1.09 1.06
 Return on average common
 shareholders' equity
 excluding change in
 accounting principle 16.90 15.78
 Return on average common
 shareholders' equity 16.90 15.78
 Average Balances for Three
 Months Ended Sept. 30
 Total assets $1,872,909 $1,443,754 29.7
 Loans - net of unearned
 income 1,148,052 943,943 21.6
 Loans held for sale 81,553 59,605 36.8
 Total deposits 1,609,973 1,275,933 26.2
 Common shareholders' equity 120,580 97,416 23.8
 Total shareholders' equity 160,830 137,666 16.8
 -0- 10/13/93
 /CONTACT: Dennis L. Nemec, chief financial officer and executive vice president, of Mid Am, 419-352-5271/
 (MIAM MIAMP)


CO: Mid Am, Inc. ST: Ohio IN: FIN SU: ERN

BM-KL -- CL012 -- 1651 10/13/93 12:01 EDT
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Date:Oct 13, 1993
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