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NBSC ANNOUNCES RECORD QUARTERLY EARNINGS

 SUMTER, S.C., Oct. 14 /PRNewswire/ -- NBSC Corporation (NASDAQ-NMS: NSCB), parent company of The National Bank of South Carolina, reported net income for the quarter ended Sept. 30, 1993, of $1.702 million. Those earnings represent record quarterly results and compare to $1.333 million in the third quarter of 1992, an increase of 27.7 percent. For the nine months ended Sept. 30, 1993, net income was $4.609 million compared to $4.297 million in the corresponding 1992 period. Excluding the effect of a one-time accounting change which added $413,000 to net income in the 1992 period, net income increased 18.7 percent between the compared year-to-date periods.
 Earnings per share were $.37 in the third quarter of 1993, compared to $.35 in the third quarter of 1992. The earnings per share amount for 1993 was affected by the issuance of an additional 747,500 common shares in a public offering completed on May 20, 1993.
 Total assets at Sept. 30, 1993, were $973.973 million, an increase of 38.6 percent over total assets one year earlier. Deposits totaled $867.600 million, an increase of 39.8 percent over $620.775 million at Sept. 30, 1992. Those increases reflect increased activity S?C's established markets and recent de novo markets as well as the purchase of the deposits of Standard Federal Savings and Loan Association in Columbia on Sept. 25, 1993.
 Robert V. Royall Jr., chairman and chief executive officer of NBSC Corporation, said, "We continue to be pleased with the company's balance sheet growth and earnings improvements. The purchase of Standard's deposit accounts was an important strategic move for the company. This transaction not only provides us with access to a strong customer base and funding we can use to continue our lending campaign, it also establishes NBSC as one of the significant financial institutions in Columbia and the Midlands."
 Loans over this period increased more than $100 million, ending Sept. 30, 1993, at $591.348 million. Royall said, "Loan demand has been extremely strong over the past two quarters. The company's expanded presence across South Carolina and an intensification of our development efforts in established markets has enabled us to diversify our portfolio and substantially increase our access to quality credit relationships around the state."
 Net loan charge-offs in the current year-to-date period totaled $458,000 or 0.12 percent of total loans on an annualized basis, compared to $1.554 million (.43 percent of total loans) in the comparable 1992 period. The company's non-performing assets decreased to $10.223 million at Sept. 30, 1993, compared to $11.785 million at Dec. 31, 1992, and $12.260 million at Sept. 30, 1992. Accruing loans past due 90 days or more decreased significantly to $490,000 at Sept. 30, 1993 compared to $903,000 at Dec. 31, 1992, and $897,000 a year earlier.
 Total shareholders' equity increased 34.5 percent to $69.490 million at Sept. 30, 1993 compared to $51.663 million a year earlier. The book value per common share increased to $15.00 at Sept. 30, 1993 compared to $13.58 at Sept. 30, 1992. Based on the stock's closing price, the company's market capitalization at quarter-end was $93.789 million.
 NBSC paid a regular quarterly dividend of $.13 per share on Oct. 1, 1993. There are currently 4,631,564 shares 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, will operate 41 offices in 24 South Carolina communities, following the full integration of Standard Federal's branch network and including offices opened in 1993 in Cayce, Greenville, Greer, and Hilton Head Island.
 NBSC CORPORATION
 FINANCIAL HIGHLIGHTS
 (Dollars in thousands, except per share amounts)
 Three Months Ended Nine Months Ended
 Sept. 30, Sept. 30,
 1993 1992 Pct. 1993 1992 Pct.
 EARNINGS SUMMARY Change Change
 Net interest income $8,757 $7,591 15.4 $24,973 $22,224 12.4
 Provision for loan
 losses 330 408 -19.1 1,220 1,956 -37.6
 Non-interest income 2,548 2,335 9.1 7,177 7,266 -1.2
 Non-interest expense 8,447 7,352 14.9 24,122 21,709 11.1
 Income taxes 826 833 -0.8 2,199 1,941 13.3
 Net income before
 accounting change 1,702 1,333 27.7 4,609 3,884 18.7
 Cumulative effect of
 change in accounting
 principle (A) -- -- -- -- 413 -100.0
 Net income $1,702 $1,333 27.7 $4,609 $4,297 7.3
 Per share data:
 Net income $.37 $.35 5.7 $1.08 $1.13 -4.4
 Cash dividend
 declared $.13 $.11 18.2 $.39 $.33 18.2
 Average number
 of shares
 outstanding 4,631,564 3,801,253 21.8 4,250,665 3,792,455 12.1
 Three Months Ended Nine Months Ended
 Sept. 30, Sept. 30,
 1993 1992 Pct. 1993 1992 Pct.
 BALANCE SHEET DATA Change Change
 (DAILY AVERAGES)
 Total assets $799,043 $700,586 14.1 $750,482 $677,073 10.8
 Total investment
 securities 128,124 113,871 12.5 125,916 112,061 12.4
 Total loans 564,867 485,252 16.4 524,604 479,989 9.3
 Total interest-
 earning
 assets 727,319 649,321 12.0 685,474 626,583 9.4
 Total deposits 708,303 619,404 14.4 664,428 595,640 11.5
 Total interest-
 bearing
 liabilities 603,457 550,863 9.5 571,769 534,666 6.9
 Total shareholders'
 equity 69,153 51,084 35.4 61,308 49,896 22.9
 RATIOS (AVERAGES)
 (percent)
 Return on assets 0.85 0.76 -- 0.82 0.85 --
 Return on equity 9.84 10.44 -- 10.02 11.48 --
 Equity to total
 assets 8.65 7.29 -- 8.17 7.37 --
 Net yield on
 interest-earning
 assets, taxable
 equivalent 4.90 4.78 -- 4.98 4.86 --
 SELECTED DATA (PERIOD END)
 Total assets $973,973 $702,694 38.6
 Total investment securities 164,182 117,336 39.9
 Total loans 591,348 483,544 22.3
 Total interest-
 earning assets 892,914 655,617 36.2
 Total deposits 867,600 620,775 39.8
 Total interest-
 bearing liabilities 766,052 550,553 39.1
 Total shareholders'
 equity 69,490 51,663 34.5
 Book value per share 15.00 13.58 10.5
 Closing price of common
 stock 20.25 20.50 -1.2
 Common shares outstanding 4,631,564 3,804,688 21.7
 OTHER INFORMATION
 Shareholders of record 1,703 1,569
 Number of offices 45 31
 Number of S.C. cities served 24 17
 NON-PERFORMING ASSETS Sept. 30, Dec. 31, Sept. 30,
 1993 1992 1992
 Non-accrual loans 4,112 8,266 10,526
 Other real estate owned 5,925 3,519 1,734
 Restructured loans 186 0 0
 Total non-performing assets 10,223 11,785 12,260
 ACCRUING LOANS PAST DUE 90 DAYS OR MORE 490 903 897
 (A) Reflects early adoption of Statement of Financial Accounting Standards No. 109, "Accounting for Income Taxes."
 -0- 10/14/93
 /CONTACT: Charl L. Butler, chief financial officer, 803-929-2062, or Billy J. Silver, director of marketing, 803-929-2052, both of NBSC Corporation/
 (NSCB)


CO: NBSC Corporation ST: South Carolina IN: FIN SU: ERN

MM -- CH015 -- 2519 10/14/93 19:00 EDT
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Date:Oct 14, 1993
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