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NBSC ANNOUNCES INCREASED FIRST QUARTER EARNINGS

 NBSC ANNOUNCES INCREASED FIRST QUARTER EARNINGS
 SUMTER, S.C., April 10 /PRNewswire/ -- NBSC Corporation


(NASDAQ-NMS: NSCB), parent company of The National Bank of South Carolina, reported net income for the quarter ended March 31, 1992, of $1.314 million, or $.41 per share, a 53.7 percent increase over earnings of $855 thousand, or $.27 per share, in the first quarter of 1991. These earnings represent an increase of 98.5 percent, or $.20 per share, over net income of $662 thousand, or $.21 per share, reported for the fourth quarter, 1991.
 Robert V. Royall, Jr., chairman and chief executive officer of NBSC Corporation stated: "Our positive first quarter results were attributable to a combination of factors, including increases in the levels of both net interest income and non-interest income, decreases in the level of non-performing assets and the adoption of a new standard of accounting for income taxes. With the exception of the one-time accounting change, our team is working to assure a continuation of these trends for the remainder of 1992."
 The Corporation's total assets grew 5.5 percent to $587.021 million at March 31, 1992, compared with $556.291 million a year ago. Total deposits increased 6.9 percent over this period, to $529.949 million. Loan totals reflected economic conditions, decreasing 5.6 percent to $406.845 million, while the investment portfolio grew 44.0 percent to $100.570 million. Total shareholders' equity increased 9.0 percent, from $37.732 million on March 31, 1991, to $41.112 million at first quarter end, 1992.
 Non-performing assets at March 31, 1992, were $7.935 million compared to $11.116 million a year ago, a decrease of $3.181 million or 28.6 percent. Royall said, "This progress not only allows us to place several million additional dollars in an earning status, it also enables our managers to concentrate more of their efforts on development activities."
 NBSC paid a regular quarterly dividend of $.11 per share on April 1, 1992. On this date, 3,230,948 shares were outstanding.
 NBSC Corporation's common stock is traded over-the-counter and is quoted under the symbol NSCB on the NASDAQ National Market System. NBSC's primary subsidiary, The National Bank of South Carolina, presently operates 29 offices in 16 South Carolina cities. An application to open a branch office in the city of Florence has recently been filed and is awaiting regulatory approval.
 NBSC CORPORATION
 FINANCIAL HIGHLIGHTS
 (Dollars in thousands, except per share amounts)
 Three Months Ended
 March 31,
 1992 1991 Pct. Change
 EARNING SUMMARY
 Net interest income $6,394 $5,996 6.6
 Provision for loan
 losses 700 520 34.6
 Non-interest income 2,483 2,084 19.1
 Non-interest expense 6,928 6,320 9.6
 Income taxes 348 385 -9.6
 Net income before
 accounting change 901 855 5.4
 Cumulative effect of
 change in accounting
 principle (A) 413 0 --
 Net income 1,314 855 53.7
 Per share data:
 Net income $ .41 $ .27 51.9
 Cash dividends
 declared $ .11 $ .11 --
 Average number of
 shares outstanding 3,230,948 3,125,948 3.4
 Three Months Ended
 March 31,
 1992 1991 Pct. Change
 BALANCE SHEET DATA
 (DAILY AVERAGES)
 Total assets $580,063 $546,116 6.2
 Total investment
 securities 98,556 70,147 40.5
 Total loans 408,151 426,181 -4.2
 Total interest-earning
 assets 529,144 498,895 6.1
 Total deposits 524,168 485,815 7.9
 Total interest-bearing
 liabilities 454,470 432,370 5.1
 Total shareholders' equity 40,396 37,425 7.9
 RATIOS (AVERAGES)
 Return on assets 0.91 percent 0.63 percent --
 Return on equity 13.01 percent 9.14 percent --
 Equity to total assets 6.96 percent 6.85 percent --
 Net yield on interest-
 earning assets, taxable
 equivalent 5.01 percent 5.01 percent --
 SELECTED DATA (PERIOD END)
 Total assets $587,021 $556,291 5.5
 Total investment securities 100,570 69,840 44.0
 Total loans 406,845 430,846 -5.6
 Total interest-earning assets 539,603 510,460 5.7
 Total deposits 529,949 495,903 6.9
 Total interest-bearing
 liabilities 460,222 435,314 5.7
 Total shareholders' equity 41,112 37,732 9.0
 Book value per share 12.72 12.07 5.4
 Closing price of common stock 15.00 13.00 15.4
 Common shares outstanding 3,230,948 3,125,948 3.4
 NON-PERFORMING ASSETS
 Non-accrual loans $6,347 $9,436 -32.7
 Other real estate owned 1,386 1,468 -5.6
 Restructured loans 202 212 -4.7
 Total non-performing assets 7,935 11,116 -28.6
 ACCRUING LOANS PAST DUE 90
 DAYS OR MORE 1,660 1,066 55.7
 OTHER INFORMATION
 Shareholders of record 1,311 1,275
 Number of offices 29 28
 Number of S.C. cities served 16 15
 (A) Reflects early adoption of Statement of Financial Accounting
 Standards No. 109, "Accounting for Income Taxes."
 -0- 4/10/92
 /CONTACT: Fran Collins, Director of Marketing, NBSC Corporation, 803-778-8224, office or 803-773-0010, home/
 (NSCB) CO: NBSC Corporation ST: South Carolina IN: FIN SU: ERN


DF -- CH001 -- 7183 04/10/92 11:17 EDT
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Date:Apr 10, 1992
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