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NBSC CORPORATION ANNOUNCES EARNINGS

 NBSC CORPORATION ANNOUNCES EARNINGS
 SUMTER, S.C., Jan. 28 /PRNewswire/ -- NBSC Corporation


(NASDAQ-NMS: NSCB), parent company of The National Bank of South Carolina, reported net income for the year ended December 31, 1991, of $3.190 million, or $1.02 per share, a 1.0 percent increase over earnings of $3.159 million or $1.01 per share in 1990.
 Net income for the fourth quarter, also ended December 31, 1991 was $662,000 or $0.21 per share, compared to $1,000 in the fourth quarter of 1990.
 Robert V. Royall, Jr., chairman and CEO of NBSC Corporation, said, "Earnings for the past five quarters reflect the costs of restructuring the Company and strengthening its balance sheet. We believe that the Company is now positioned to consistently improve its fundamental earnings in the future."
 "We have assembled an experienced management team, unparalleled in the state," Royall said. "This combined with our recent access, through EDS, to the most up-to-date technology available will ensure our ability to provide a unique combination of professional service and innovative products to our customers."
 Total assets increased 5.6 percent, to $577.342 million, at year-end 1991 from 1990's total of $546.888 million. Total deposits increased 6.5 percent, to $521.635 million, on December 31, 1991 from $489.640 million in 1990. Total shareholders' equity rose 7.7 percent to $40.042 million, in 1991, up from $37.183 million at year-end 1990. Total loans in 1991 were $407.056 million, a 3.6 percent decrease from loans of $422.159 million at year-end 1990.
 Non-performing assets at December 31, 1991 were $9.259 million compared to $11.007 million a year earlier. Non-performing assets peaked at $12.182 million on March 31, 1991. Royall said, "We have spent a great deal of our energies this year addressing these problems. We continue to see positive trends in the Company's credit quality in the year ahead."
 NBSC paid a regular quarterly dividend of $.11 per share to shareholders on January 2, and declared dividends totaling $.44 per share during 1991.
 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, operates 29 offices in 16 South Carolina cities.
 NBSC CORPORATION
 FINANCIAL HIGHLIGHTS
 (Dollars in Thousands, Except Per Share Amounts)
 Three Months Ended Twelve Months Ended
 December 31, December 31,
 Pct. Pct.
 1991 1990 Change 1991 1990 Change
 EARNINGS SUMMARY
 Net interest
 income $6,079 $5,519 10.1 $24,027 $23,951 0.3
 Provision for
 8,327 7,481 11.3
 Noninterest
 expense 6,380 6,358 0.3 25,654 23,946 7.1
 Income taxes 252 (43) 686.0 1,390 1,689 -17.7
 Net income 662 1 N/M(A) 3,190 3,159 1.0
 Per share data:
 Net income $.21 $.00 N/M(A) $1.02 $1.01 1.0
 Cash dividends
 declared $.11 $.11 - $.44 $.44 -
 Average number
 of shares
 outstanding 3,167,361 3,125,948 1.3 3,137,619 3,125,948 0.4
 Three Months Ended Twelve Months Ended
 December 31, December 31,
 Pct. Pct.
 1991 1990 Change 1991 1990 Change
 BALANCE SHEET
 DATA (DAILY
 AVERAGES)
 Total assets $565,797 $533,336 6.1 $559,260 $539,750 3.6
 Total investment
 securities 83,867 66,702 25.7 75,980 75,491 0.6
 Total loans 406,920 408,537 -0.4 419,205 394,329 6.3
 Total interest-
 earning assets 519,266 484,942 7.1 512,213 489,453 4.7
 Total deposits 510,449 483,016 5.7 501,318 490,168 2.3
 Total interest-
 bearing lia-
 bilities 447,928 416,325 7.6 432,550 419,910 3.0
 Total share-
 holders' equity 39,105 37,576 4.1 38,221 36,560 4.5
 RATIOS
 (AVERAGES)
 (PERCENT)
 Return on assets 0.47 0.00 - 0.57 0.59 -
 Return on equity 6.77 0.01 - 8.35 8.64 -
 Equity to
 total assets 6.91 7.05 - 6.83 6.77 -
 Net yield on
 interest-earning
 assets, taxable
 equivalent 4.81 4.67 - 4.84 5.02 -
 SELECTED DATA
 (PERIOD END)
 Total assets $577,342 $546,888 5.6
 Total investment
 securities 93,374 68,304 36.7
 Total loans 407,056 422,159 -3.6
 Total interest-
 earning assets 522,890 494,363 5.8
 Total deposits 521,635 489,640 6.5
 Total interest-
 bearing liabilities 446,078 426,263 4.6
 Total shareholders'
 equity 40,042 37,183 7.7
 Book value per share 12.39 11.89 4.2
 Closing price of
 common stock 14.50 8.50 70.6
 Common shares
 outstanding 3,230,948 3,125,948 3.4
 Dec 31, Sep 30, Jun 30, Mar 31, Dec 31
 1991 1991 1991 1991 1990
 NON-PERFORMING ASSETS
 Nonaccrual loans $6,525 $7,920 $6,454 $9,436 $9,394
 Restructured loans 203 205 210 212 213
 Loans past due
 90 days or more 820 498 1,060 1,066 529
 Other real estate owned 1,711 1,094 1,752 1,468 871
 Total non-performing
 assets 9,259 9,717 9,476 12,182 11,007
 Dec 31, Dec 31,
 1991 1990
 OTHER INFORMATION
 Shareholders of record 1,311 1,277
 Number of offices 29 28
 Number of S.C. cities served 16 15
 (A) Not Meaningful
 -0- 1/28/92
 /CONTACT: Fran Collins, Director of Marketing, NBSC Corporation, 803-778-8224 or (home) 803-773-0010/
 (NSCB) CO: NBSC Corporation ST: South Carolina IN: FIN SU: ERN


DF -- CH007 -- 4192 01/28/92 11:27 EST
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