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NATIONAL CITY CORPORATION REPORTS 1992 EARNINGS

 CLEVELAND, Jan. 14 /PRNewswire/ -- National City Corporation (NYSE: NCC) today reported 1992 net income of $347 million, or $4.19 per common share compared with $237 million, or $2.92 per common share for 1991, reflecting a 43 percent per share increase. All prior year amounts have been adjusted to reflect the pooling-of-interests acquisition of Merchants National Corporation. Net income per common share increased 16 percent in 1992 compared with 1991's originally reported earnings per share of $3.62.
 For the fourth quarter, net income was $90 million, or $1.09 per common share, compared with $41 million, or $.47 per common share for the fourth quarter of 1991.
 Return on average assets for the year was 1.21 percent, up from .81 percent in 1991. Return on average common equity for 1992 was 15.31 percent, up from 11.20 percent in 1991. For the fourth quarter, these measures were 1.25 percent and 15.23 percent, respectively.
 The increase in earnings for the fourth quarter and full year was due primarily to improvements in asset quality resulting in a lower provision for loan losses. The provision for the full year 1992 was $129 million, a 49 percent decline from $251 million in 1991. For the fourth quarter of 1992, the provision was $21 million compared with $72 million for the same quarter in 1991.
 The improved asset quality was further reflected in a decline in nonperforming assets to $367 million at Dec. 31, 1992, from $539 million at year-end 1991 and $442 million at Sept. 30, 1992. This marked the seventh consecutive quarter in which nonperforming assets have declined. Nonperforming assets at year-end represented 1.9 percent of loans and foreclosed real estate compared with 2.8 percent at year-end 1991. The allowance for loan losses was 104.5 percent of nonperforming assets at Dec. 31, 1992.
 Total assets at Dec. 31, 1992 were $29.0 billion. Total loans were $18.7 billion and total deposits were $22.6 billion. Stockholders' equity was $2.5 billion.
 After-tax security gains were $.21 per share for 1992, compared with $.22 per share for the prior year.
 National City Corporation is a $29 billion diversified financial service company headquartered in Cleveland. National City operates banks and other financial service subsidiaries principally in Ohio, Kentucky and Indiana.
 NATIONAL CITY CORPORATION
 FINANCIAL HIGHLIGHTS
 (Dollars in Thousands Except Per Share Amounts)
 Percent
 1992 1991 Change
 FOR THE FOURTH QUARTER:
 Net Income $ 90,050$ 40,593 122
 Preferred Dividend Requirements 4,000 4,000 --
 Net Income Applicable
 to Common Stock 86,050 36,593 135
 Net Income Per Share 1.09 .47 132
 Dividends Paid Per Common Share .47 .47 --
 Avg. Common Shares Outstanding 79,170,450 77,322,228 2
 Return on Avg. Common Equity 15.23 pct 7.05 pct
 Return on Avg. Assets 1.25 .55
 FOR THE YEAR:
 Net Income $ 346,923$ 236,805 47
 Preferred Dividend Requirements 16,000 11,200 43
 Net Income Applicable
 to Common Stock 330,923 225,605 47
 Net Income Per Share 4.19 2.92 43
 Dividends Paid Per Common Share 1.88 1.88 --
 Avg. Common Shares Outstanding 79,005,990 77,215,111 2
 Return on Avg. Common Equity 15.31 pct 11.20 pct
 Return on Avg. Assets 1.21 .81
 AT DECEMBER 31:
 Assets $28,963,473 $29,976,008 (3)
 Loans 18,737,565 19,171,182 (2)
 Deposits 22,585,324 22,757,825 (1)
 Common Stockholders' Equity 2,299,886 2,057,662 12
 Total Stockholders' Equity 2,499,886 2,257,662 11
 Common Shares Outstanding 79,083,590 77,313,182 2
 Book Value Per Common Share $ 29.08 $ 26.61 9
 Market Value Per Common Share 49.63 37.25 33
 All prior year's data has been restated to reflect the pooling-of- interests acquisition of Merchants National Corporation.
 -0- 1/14/93
 /CONTACT: Thomas A. Richlovsky, senior vice president & treasurer, 216-575-2126; or Janis E. Lyons, vice president, investor relations; 216-575-3329; both of National City Corporation/
 (NCC)


CO: National City Corporation ST: Ohio IN: FIN SU: ERN

KK -- CL002 -- 4699 01/14/93 08:11 EST
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Date:Jan 14, 1993
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