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SANTA MONICA BANK REPORTS FIRST QUARTER RESULTS

 SANTA MONICA BANK REPORTS FIRST QUARTER RESULTS
 SANTA MONICA, Calif., April 10 /PRNewswire/ -- Santa Monica Bank's


(AMEX: SMO) net income for the first quarter of 1992 was $2,338,746, or $.33 per share, compared with $3,063,469, or $.43 per share in 1991. Income before income taxes for the first quarter of 1992 was $3,522,649, compared with $4,692,800, in 1991, reported Joe L. Walling, chairman of the board and chief executive officer.
 Santa Monica Bank's total assets on March 31, 1992, increased to $857,621,831, up 6 percent from $812,368,469 in 1991. Loans increased to $598,449,671, up 1 percent from $594,731,677 in 1991. The reserve for loan losses rose 11 percent to $6,590,183 from $5,941,767 in 1991. Deposits increased to $769,733,144, up 5 percent from $733,247,392 in 1991.
 Stockholders equity advanced 9 percent to $82,880,440, or $11.72 per share, from $75,767,656, or $10.72 per share in 1991.
 SANTA MONICA BANK
 Financial Highlights
 (Amounts in thousands, except per share data)
 Three months ended Percent
 March 31, Increase/(Decrease)
 1992 1991 1990 92 vs. 91 92 vs. 90
 Net interest
 income 10,535 10,700 9,846 (2 pct.) 7 pct.
 Provision for
 loan losses 1,200 450 400 167 pct. 200 pct.
 Net interest
 income after
 provision for
 loan losses 9,335 10,250 9,446 (9 pct.) (1 pct.)
 Total other
 operating
 income 2,002 1,846 1,802 8 pct. 11 pct.
 Total other
 operating
 expense 7,814 7,404 6,705 6 pct. 17 pct.
 Income before
 income taxes 3,523 4,693 4,543 (25 pct.) (22 pct.)
 Applicable
 income taxes 1,184 1,629 1,530 (27 pct.) ---
 Net income 2,339 3,063 3,013 (24 pct.) (22 pct.)
 Net income
 per share .33 .43 .43 --- ---
 Financial Ratios
 Return on
 average
 stockholders'
 equity 11.44 pct. 16.42 pct. 18.89 pct.
 Return on
 average
 assets 1.08 pct. 1.52 pct. 1.53 pct.
 Equity
 capital to
 assets 9.46 pct. 9.28 pct. 8.01 pct.
 March 31, Percent
 1992 1991 Increase/(Decrease)
 Total assets 857,622 812,368 6 pct.
 Net loans 598,450 594,732 1 pct.
 Reserve for loan
 losses 6,590 5,942 11 pct.
 Total deposits 769,733 733,247 5 pct.
 Stockholders'
 equity 82,880 75,768 9 pct.
 Stockholders'
 equity per
 share 11.72 10.72 ---
 -0- 4/10/92
 /CONTACT: Dario O. Quiroga of Santa Monica Bank, 310-394-9611/
 (SMO) CO: Santa Monica Bank ST: California IN: FIN SU: ERN


AL-CH -- LA002 -- 7063 04/10/92 08:46 EDT
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