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MOUNTAINEER BANKSHARES OF W.VA., INC., ANNOUNCES INCREASED FIRST QUARTER EARNINGS

 MOUNTAINEER BANKSHARES OF W.VA., INC.,
 ANNOUNCES INCREASED FIRST QUARTER EARNINGS
 MARTINSBURG, W.Va., April 14 /PRNewswire/ -- Mountaineer Bankshares of W.Va., Inc., (NASDAQ: MTNR) today reported a 40.71 percent increase in net income to $1,431,000 for the first quarter of 1992 compared to $1,017,000 for the same period of last year.
 On a per share basis, first quarter earnings rose 41.03 percent to $.55 compared to $.39 in 1991.
 "Although continued earnings improvement was expected, we are especially pleased with the first quarter earnings," said Brent D. Robinson, president. "Our improvement is primarily due to a significant increase in net interest income resulting from the favorable interest rate environment we are currently experiencing."
 Mountaineer Bankshares is the holding company of six West Virginia banks including Old National Bank, Martinsburg, The Empire National Bank of Clarksburg, City National Bank of Fairmont, The Bank of Wadestown, Fairview; Mercantile Banking & Trust Company, Moundsville, and The First National Bank of Cameron.
 MOUNTAINEER BANKSHARES OF W.VA., INC.
 Summary Financial Data
 In thousands of dollars (except per share amounts)
 (unaudited)
 First Quarter 1992 1991
 Net income 1,431 1,017
 Per share 0.55 0.39
 Net interest income 6,597 5,387
 Noninterest income 732 624
 Noninterest expense 5,029 4,146
 Loss provision 296 555
 Net charge-offs 314 747
 Balance Sheet 3/31/92 3/31/91
 Assets 623,932 553,237
 Deposits 535,455 480,516
 Loans, net of unearned
 interest 263,757 241,044
 Shareholders' equity 51,744 48,998
 Loan loss reserve 7,245 5,069
 Other real estate owned 5,375 5,592
 Loan loss reserve/loans 2.75 pct. 2.10 pct.
 Nonperforming loans 7,828 8,035
 Nonperforming loans/loans 2.97 pct. 3.33 pct.
 Primary capital ratio 9.45 pct. 9.77 pct.
 Earnings per share have been computed based on the weighted average of 2,596,981 shares outstanding for the three-month period ended March 31, 1992, and 2,606,782 shares outstanding for the three-month period ended March 31, 1991.
 -0- 4/14/92
 /CONTACT: Brent D. Robinson, president of Mountaineer Bankshares, 304-263-0861, ext. 193/
 (MTNR) CO: Mountaineer Bankshares of W.Va., Inc. ST: West Virginia IN: FIN SU: ERN


CD-JT -- PG004 -- 8145 04/14/92 10:04 EDT
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Date:Apr 14, 1992
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