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NATIONSBANK SAYS ITS LENDERS EXTENDED MORE THAN $2.2 BILLION IN COMMUNITY INVESTMENT LOANS DURING 1992

 CHARLOTTE, N.C., March 29 /PRNewswire/ -- NationsBank (NYSE: NB) today reported that its lenders extended more than $2.2 billion in community investment loans during 1992. These results -- part of the bank's efforts to meet the needs of economically underserved areas -- mark substantial first-year progress toward the bank's goal of making $10 billion of such loans within 10 years.
 In conjunction with today's announcement, local NationsBank executives in 29 of the bank's larger markets soon will deliver reports detailing the bank's community investment lending at state and local levels. Known as the Report to Communities program, these reports will be presented during April and May principally to city council or chamber of commerce meetings.
 "When we made our 10-year, $10 billion commitment, we also promised to tell our communities how we're doing against that goal. We take those resolutions very seriously," said Catherine P. Bessant, principal Community Investment executive for NationsBank. "Our credibility -- which is key to our ability to serve this market even further -- depends on meeting both pledges."
 The local reports will detail loans made in 1992 for individuals, including home mortgage and home improvement loans, small business loans, commercial real estate loans for development in low- to moderate- income areas and agricultural lending.
 Housing-related loans also will be detailed by race. This is the only category of credit that laws permit banks to track by race.
 Written reports will be available at banking centers this summer as part of the bank's CRA statement.
 Of the $2.2 billion in community investment loans made nationally during 1992, 31 percent were made to consumers. Consumer loans included:
 -- 7,025 home mortgage and home improvement loans (excluding
 refinancings) totaling $399.3 million in low- to moderate-income
 census tracts.
 -- 7,543 home mortgage and home improvement loans (excluding
 refinancings) totalling $387.2 million to minority applicants.
 -- 9,573 student loans for $37.6 million to assist students in
 underserved areas further their education.
 -- 49,497 additional consumer loans totalling $354.3 million to
 assist individuals in underserved areas with needs such as
 financing autos and consolidating debts.
 National housing-related loan information released today corresponds to what the Federal Reserve requires under the Home Mortgage Disclosure Act (HMDA). This information is expected to be released by regulators in late summer.
 "Because of the high level of interest in this information, we wanted to provide it to our communities as soon as we had it compiled," Bessant commented.
 "We are pleased by the increase in housing-related loan activity we've generated in traditionally underserved areas. We have listened to our communities and we have responded. The fact that we're making more loans is evidence that innovative products, aggressive underwriting and education do work and do enhance the availability of credit," the NationsBank executive continued.
 The number of minority applications for home mortgage and home improvement loans in 1992 increased by 58.9 percent over 1990 (the first year race-related records were permitted). The total dollar amount represented by these applications increased 62.9 percent. For residents of low- to moderate-income census tracts, applications increased by 1.9 percent (number of applications) and 15.8 percent (total dollar value).
 Overall, total housing-related loan volume in low- to moderate- income census tracts was $399 million, an increase of almost $81 million over 1990. For minority applicants, volume was $387 million, a $154 million increase over 1990. In terms of housing-related loans approved for minority applicants, the number of loans increased 66.1 percent over 1990 levels and the total dollar value increased 66.2 percent. For residents of low- to moderate-income census tracts, these categories increased by 5.1 percent and 25.3 percent, respectively.
 Because of the company's $10 billion loan program and accompanying commitment to report on the program's progress, this HMDA data reflects only those markets where NationsBank has branches. Loans made outside those markets are not accounted for in the above results.
 Community Investment commercial lending included:
 -- 23,057 loans of less than $50,000, totalling $428 million.
 -- 188 SBA loans for $50.8 million to small businesses.
 -- 6,220 loans for $917 million to businesses located in low- to
 moderate-income areas.
 -- 8,303 commercial real estate loans totalling $417.9 million for
 programs in low- to moderate-income areas, including single- and
 multi-family housing and renovations for retail and community
 centers.
 -- 869 loans worth $35.9 million to agricultural-oriented
 businesses and small farmers in underserved areas.
 -- 23 loans totalling $6.2 million to child care providers.
 "Although we are very encouraged by this progress, we recognize there is much more to be done," Bessant said. She noted that NationsBank has numerous initiatives under way to make sure that the bank's momentum in community investment lending continues.
 These initiatives include expanding the education programs offered by NationsBank to include basic banking principles; more new product development; and advancing the level of innovative programs that target specific needs, such as Nations Housing Fund and local public/private partnerships.
 "The goal of our Community Investment Program is to make NationsBank the leading provider of credit and depository services for all of our potential customers in all of our communities," Bessant said. "We aren't shy about saying that, because we view community investment lending as a partnership with our neighborhoods. NationsBank will prosper only as they do."
 NationsBank is the fourth-largest U.S. banking company with $118 billion in total assets and full-service banking centers in nine state and the District of Columbia.
 -0- 3/29/93
 /CONTACT: Lynn Drury of NationsBank Corporation, 704-386-8153/
 (NB)


CO: NationsBank Corporation ST: North Carolina IN: FIN SU:

CM -- CH004 -- 0413 03/29/93 10:25 EST
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Date:Mar 29, 1993
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