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NORTHBAY FINANCIAL REPORTS RESULTS

 NORTHBAY FINANCIAL REPORTS RESULTS
 PETALUMA, Calif., Aug. 31 /PRNewswire/ -- Northbay Financial Corp.


(AMEX: NBF), the holding company for Northbay Savings Bank, recorded a net income of $3,487,000 for the fiscal year ended June 30, 1992, as compared to $2,832,000 for the same period in 1991, an increase of 23 percent. This is Northbay's most profitable year since it was founded 27 years ago. Fully diluted earnings per share were $2.02, compared to $1.65 last year, adjusted for a three-for-two stock split effective Nov. 19, 1991.
 Total interest income for fiscal 1992 was $26,478,000, as compared to $26,398,000 in 1991.
 Net interest income increased $1,770,000 to $12,576,000 for fiscal 1992 compared to $10,806,000 in 1991.
 A key measure of profitability, return on average assets for the fiscal year 1992 was 1.26 percent as compared to 1.12 percent for 1991.
 Net loans as of June 30, 1992, were $248,783,000, as compared to $223,312,000 on June 30, 1991.
 Total assets grew $31,326,000 to $295,094,000 at June 30, 1992, as compared to $263,768,000 at June 30, 1991.
 The ratio of nonperforming assets to average assets was 0.44 percent at June 30, 1992, compared to 0.32 percent at June 30, 1991.
 Stockholders' equity as of June 30, 1992, was $28,076,000 compared to $24,984,000 at June 30, 1991.
 Alfred A. Alys, president and CEO of Northbay Savings Bank, stated, "The quality of our loan portfolio together with our capital strength delivered excellent performance this past year, and these factors present a sound basis for continued earnings growth next year."
 Founded in 1965, Northbay Savings Bank is the sole subsidiary of Northbay Financial Corp. Northbay Savings Bank is based in Petaluma where it maintains two offices, and has additional offices throughout Sonoma County, California, in Santa Rosa, Healdsburg, Forestville, Sonoma and Rohnert Park.
 -0- 8/31/92
 /CONTACT: Jeanne M. Chalmers of Northbay Financial Corp., 707-778-3334/
 (NBF) CO: Northbay Financial ST: California IN: FIN SU: ERN


RS-RM -- SF003 -- 4811 08/31/92 09:01 EDT
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Date:Aug 31, 1992
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