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NATIONAL CITY CORPORATION REPORTS HIGHER SECOND QUARTER EARNINGS

 NATIONAL CITY CORPORATION REPORTS
 HIGHER SECOND QUARTER EARNINGS
 CLEVELAND, July 14 /PRNewswire/ -- National City Corporation (NYSE: NCC) today reported earnings for the second quarter and first six months of 1992.
 Net income for the three months ended June 30, 1992 was $85.1 million, or $1.02 per common share, compared with $65.5 million, or $.81 per common share, for the same quarter of 1991, representing a 26 percent increase per share. Net income for the first six months was $167.3 million, or $2.02 per common share, compared with $126.3 million, or $1.60 per common share for the same period a year ago, up 26 percent per share. All prior period data have been restated for the pooling-of-interests acquisition of Merchants National Corporation, which closed on May 2, 1992. Compared to 1991's earnings as originally reported, net income per common share for the second quarter and year to date increased 17 percent.
 Returns on average equity and average assets for the second quarter were 15.30 percent and 1.19 percent, respectively. For the first six months of 1992 these measures were 15.22 percent and 1.17 percent, respectively.
 Earnings improved for the second quarter and year to date compared with a year ago primarily due to improvements in asset quality. At June 30, 1992, nonperforming assets were $446 million, compared with $542 million at year-end 1991 and $611 million at June 30, 1991. Nonperforming assets declined for the fifth consecutive quarter.
 As a result of the improvement in the level of nonperforming assets and in other measures of credit quality, the provision for loan losses was reduced to $80.4 million for the first six months of 1992, compared with $121.8 million for the same period in 1991.
 Total assets at June 30, 1992 were $28.6 billion; stockholders' equity was $2.4 billion. The corporation's equity capital as a percentage of assets rose to 8.29 percent at quarter-end, compared with 7.49 percent a year ago. Loans were $18.5 billion and total deposits were $22.0 billion.
 After-tax security gains were $.04 per share in the second quarter of 1992, compared with $.05 per share for the second quarter of 1991. Year to date, after-tax security gains were $.10 per share, compared with $.11 per share a year ago. The second quarter results also included certain one-time costs and adjustments associated with the acquisition of Merchants National Corporation, partially offset by unrelated gains from loan sales, which reduced earnings by a net $4.5 million or $.06 per share.
 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 SECOND QUARTER:
 Net Income $ 85,144 $ 65,545 30 pct
 Preferred Dividend Requirements 4,000 3,200 25
 Net Income Applicable
 to Common Stock 81,144 62,345 30
 Net Income Per Share 1.02 .81 26
 Dividends Paid Per Common Share .47 .47 --
 Avg. Common Shares Outstanding 79,497,672 77,157,318
 Return on Avg. Common Equity 15.30 pct 12.51 pct
 Return on Avg. Assets 1.19 .89
 FOR THE SIX MONTHS ENDING JUNE 30:
 Net Income $ 167,250 $ 126,328 32 pct
 Preferred Dividend Requirements 8,000 3,200 150
 Net Income Applicable
 to Common Stock 159,250 123,128 29
 Net Income Per Share 2.02 1.60 26
 Dividends Paid Per Common Share .94 .94 --
 Avg. Common Shares Outstanding. 78,835,876 77,062,399
 Return on Avg. Common Equity 15.22 pct 12.52 pct
 Return on Avg. Assets 1.17 .86
 AT JUNE 30:
 Assets $28,626,679 $29,664,601 (4) pct
 Loans 18,546,753 19,780,348 (6)
 Deposits 22,023,147 22,638,759 (3)
 Stockholders' Equity 2,373,428 2,223,055 7
 Common Shares Outstanding 78,206,116 77,268,484
 Book Value Per Common Share $ 27.79 $ 26.18 6 pct
 Market Value Per Common Share 45.50 34.50 32
 -0- 7/14/92
 /CONTACT: Thomas A. Richlovsky, senior vice president and 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 -- CL005 -- 8919 07/14/92 07:48 EDT
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Date:Jul 14, 1992
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