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NATIONAL CITY BANCORPORATION ANNOUNCES EARNINGS

 MINNEAPOLIS, Jan. 20 /PRNewswire/ -- National City Bancorporation (NASDAQ-NMS: NCBM) reported net earnings of $6,919,000 for the year ended Dec. 31, 1992, equalling $1.27 per share, up 36 percent from $5,090,000 and $0.93 per share for the year 1991. Net charge-offs for the year were $481,000 compared to $3,102,000 for 1991. The valuation allowance for loan losses at Dec. 31, 1992 was $7,657,000, 2.12 percent of loans outstanding, compared to $7,131,000 or 2.06 percent at Dec. 31, 1991. The net interest margin for the year (net interest income on a fully taxable equivalent basis divided by average earning assets) was 5.23 percent compared to 5.26 percent in 1991. Included in 1992 net earnings are after-tax gains on the sale of investment securities of $599,000 compared to gains of $461,000 in 1991.
 For the fourth quarter of 1992, the Bancorporation reported net earnings of $1,648,000, $0.30 per share, up 51 percent from $1,090,000, $0.20 share in the fourth quarter of 1991. Net loan recoveries were $209,000 for the fourth quarter compared with net loan charge-offs of $998,000 for the same period last year.
 Nonaccrual loans, renegotiated loans and other real estate acquired in foreclosure were $3.2 million at Dec. 31, 1992, down from $7 million at Sept. 30, 1992 and down from $9.7 million at Dec. 31, 1991. The reduction in nonperforming assets and lower level of net charge-offs allowed the company to significantly reduce its loan loss provision for the year. The loan loss provision for 1992 was $1,007,000 compared with $2,913,000 in 1991.
 Operating expenses in the fourth quarter of 1992 include a charge for legal reserves relating to pending litigations which had the effect of reducing net earnings for the quarter and full year by approximately $595 thousand.
 National City Bancorporation is a bank holding company which owns National City Bank of Minneapolis and Diversified Business Credit, Inc. The company's stock is traded on the over-the-counter market in the NASDAQ National Market System under the symbol NCBM.
 NATIONAL CITY BANCORPORATION
 (In thousands, except per share amounts)
 (Unaudited)
 Fourth Quarter Ended
 12/31/92 12/31/91
 Gross revenues $12,934 $13,773
 Net interest income 6,595 6,107
 Noninterest income 3,086 2,541
 Provision for loan losses (638) 1,021
 Noninterest expense 7,469 6,142
 Net earnings $1,648 $1,090
 Per share $0.30 $0.20
 Year Ended
 12/31/92 12/31/91
 Gross revenues $51,071 $57,932
 Net interest income 24,492 24,767
 Noninterest income 12,262 9,939
 Provision for loan losses 1,007 2,913
 Noninterest expense 24,838 24,369
 Net earnings $6,919 $5,090
 Per share $1.27 $0.93
 -0- 1/20/93
 /CONTACT: David H. North of National City Bancorporation, 612-340-3185/
 (NCBM)


CO: National City Bancorporation ST: Minnesota IN: FIN SU: ERN

AL -- MN009 -- 7001 01/20/93 14:58 EST
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Publication:PR Newswire
Date:Jan 20, 1993
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