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NATIONAL CITY BANCORPORATION ANNOUNCES THIRD QUARTER EARNINGS

 NATIONAL CITY BANCORPORATION ANNOUNCES THIRD QUARTER EARNINGS
 MINNEAPOLIS, Oct. 22 /PRNewswire/ -- National City Bancorporation (NASDAQ-NMS: NCBM) today announced net earnings of $1,795,000 for the third quarter of 1992, equalling $0.33 per share, compared to $1,358,000, and $0.25 per share in 1991. Included in 1992 third quarter net earnings are after-tax gains from the sale of investment securities of $3,000 compared to $432,000 in 1991. Net earnings for the nine months ended Sept. 30, 1992 were $5,271,000 or $0.97 per share compared to $4,000,000 or $0.73 per share in 1991. Included in 1992 year-to-date net earnings, are after-tax gains from the sale of investment securities of $599,000 compared to $432,000 in 1991.
 Net interest income was $5,996,000 for the third quarter and the tax equivalent net interest margin was 5.09 percent compared to $6,322,000 and 5.33 percent for the same period last year.
 Net loan charge-offs were $83,000 in the third quarter and $690,000 for nine months compared to $415,000 and $2,104,000 for the same periods last year. The company's reserve for loan losses at Sept. 30, 1992 was $8,086,000 or 2.2 percent of loans outstanding compared to $7,131,000 and 2.1 percent at Dec. 31, 1991.
 Nonaccrual loans and other real estate acquired in foreclosure were $7.0 million at Sept. 30, 1992, down from $8.4 million at June 30, 1992 and $9.7 million at Dec. 31, 1991.
 NATIONAL CITY BANCORPORATION
 (In thousands, except per share)
 (Unaudited)
 Third Quarter Ended
 9/30/92 9/30/91
 Gross revenues $11,926 $15,021
 Net interest income 5,996 6,322
 Noninterest income 2,592 2,971
 Provision for loan losses 204 642
 Noninterest expense 5,627 6,575
 Net earnings $1,795 $1,385
 Per share $0.33 $0.25
 Nine Months Ended
 9/30/92 9/30/91
 Gross revenues $38,137 $44,159
 Net interest income 17,897 18,660
 Noninterest income 9,176 7,398
 Provision for loan losses 1,645 1,892
 Noninterest expense 17,369 18,227
 Net earnings $5,271 $4,000
 Per share $0.97 $0.73
 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.
 -0- 10/22/92
 /CONTACT: David H. North of National City Bancorporation, 612-340-3185/
 (NCBM) CO: National City Bancorporation ST: Minnesota IN: FIN SU: ERN


AL -- MN020 -- 3758 10/22/92 15:10 EDT
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Publication:PR Newswire
Date:Oct 22, 1992
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