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PROFESSIONAL BANCORP ANNOUNCES EARNINGS

 PROFESSIONAL BANCORP ANNOUNCES EARNINGS
 SANTA MONICA, Calif., Jan. 7 /PRNewswire/ -- Professional Bancorp


Inc. (AMEX: MDB), through its wholly owned subsidiary, First Professional Bank, N.A., which provides banking services to the medical community, reported 1991 net earnings increased by 79.2 percent to $1.29 per share from $.72 per share in 1990. Net 1991 earnings totaled $1,106,953 compared with $591,524 in 1990. Earnings per share are based upon 858,792 and 816,354 shares for 1991 and 1990, respectively. Fourth quarter 1991 earnings totaled $319,116 compared to $70,982 during the fourth quarter of 1990. Dr. Joel W. Kovner, chairman and chief executive officer, said the increase in earnings was attributed to continued strong growth in deposits, better cost control, continued strength of the loan portfolio and more efficient use of funds. In addition, all other areas of the bank continued to experience solid growth for the 12 months ended Dec. 31, 1991. Deposits increased by 28.4 percent to $183.6 million, total loans by 10.7 percent to $96.3 million and assets by 34.3 percent to $204.2 million.
 PROFESSIONAL BANCORP INC.
 Financial Highlights
 (amounts in thousands, except per share data)
 (unaudited)
 Fourth Quarter
 1991 1990
 Income before taxes $560 $189
 Income after taxes 319 71
 Provision for loan losses 122 393
 Earnings per share $.37 $.09
 Year Ended Dec. 31,
 1991 1990
 Income before taxes $1,902 $1,087
 Income after taxes 1,107 592
 Provision for loan losses 268 645
 Total loans (gross) 96,304 87,024
 Total deposits 183,585 143,019
 Total assets 204,161 152,037
 Earnings per share 1.29 .72
 -0- 1/7/92
 /CONTACT: Daniel Rader, CFO of Professional Bancorp, 310-458-1521/
 (MDB) CO: Professional Bancorp Inc. ST: California IN: FIN SU: ERN


KJ-CH -- LA013 -- 7402 01/07/92 15:09 EST
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Date:Jan 7, 1992
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