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SCOTT & STRINGFELLOW'S EARNINGS UP 25 PERCENT IN SECOND QUARTER

 RICHMOND, Va., Jan. 26 /PRNewswire/ -- Scott & Stringfellow Financial, Inc. (NASDAQ: SCOT) today reported increases in earnings for both the second quarter and first six months of fiscal 1993 which ended on Dec. 31, 1992.
 Net income for the second quarter was $1,035,548, up 25.1 percent over the $827,491 reported for the same period one year ago. Second quarter earnings per share increased 28.3 percent to $0.59 from $0.46 in the year earlier period.
 For the first six months of fiscal 1993, net income was $1,743,198, or $0.99 per share, as compared to $1,469,585, or $0.82 per share, for the first half of fiscal 1992. These results reflect increases in net income and earnings per share of 18.6 percent and 20.7 percent, respectively.
 total stockholder's equity amounted to $21,195,860 at Dec. 31, 1992, as compared to $19,724,609 one year earlier. Book value per share rose to a record level of $12.07 based on 1,756,733 common shares outstanding on Dec. 31, 1992. Book value per share has increased 10.1 percent in the past twelve months from $10.96 at Dec. 31, 1991.
 William P. Schubmehl, President and Chief Executive Officer, attributed the improvement in earnings in the first half of fiscal 1993 to higher levels of commission and investment banking revenue complemented by tight control over operating expenses.
 The company's primary subsidiary, Scott & Stringfellow, Inc., is a regional brokerage, financial services and investment banking firm headquartered in Richmond, Va. Scott & Stringfellow, Inc. was founded in Richmond in 1893 and is the South's oldest continuous member of the New York Stock Exchange. The common stock of the holding company, Scott & Stringfellow Financial, Inc. has been traded in the Over-the-Counter market since an initial public offering in November, 1986. The firm has 26 branch offices throughout Virginia, North Carolina and West Virginia and 396 employees of which 175 have full-time Investment Broker positions.
 SCOTT & STRINGFELLOW FINANCIAL, INC.
 FINANCIAL SUMMARY
 DEC. 31, 1992
 (In Thousands Except Per Share Data)
 Three Months Six Months
 Ended Dec. 31 Ended Dec. 31
 1992 1991 1992 1991
 Total Revenues $12,126 $11,452 $22,943 $22,003
 Total Expenses 10,552 10,145 20,282 19,703
 Income Before Taxes 1,574 1,307 2,661 2,300
 Income Taxes 538 480 981 830
 Net Income $ 1,036 $ 827 $ 1,743 $ 1,470
 Earnings Per Share $0.59 $0.46 $0.99 $0.82
 Dividends Per Share $0.09 $0.08 $0.17 $0.15
 Average Shares Outstanding 1,757 1,799 1,757 1,799
 At Dec. 31
 1992 1991
 Total Assets $71,555 $60,915
 Total Stockholders'
 Equity 21,196 19,725
 Book Value Per Share 12.07 10.96
 Total Employees 396 370
 Investment Brokers 175 166
 Branch Offices 26 25
 -0- 1/26/93
 /CONTACT: William P. Schubmehl, President and Chief Executive Officer, 804-780-3252, or Steven C. DeLaney, First Vice President and Chief Financial Officer, 804-782-8757, both of Scott & Stringfellow/
 (SCOT)


CO: Scott & Stringfellow Financial, Inc.; Scott & Stringfellow, Inc. ST: Virginia IN: FIN SU: ERN

MM -- CH009 -- 9248 01/26/93 16:10 EST
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Date:Jan 26, 1993
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