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SECOND NATIONAL REPORTS NINE-MONTH LOSS OF $5.2 MILLION

 SECOND NATIONAL REPORTS NINE-MONTH LOSS OF $5.2 MILLION
 SALISBURY, Md., Nov. 13 /PRNewswire/ -- For the nine months ended Sept. 30, 1992, Second National Bancorporation (NASDAQ-NMS: SNLB) reported a net loss of $5.2 million on an unaudited basis compared with the first nine months of 1991 when the company recorded a loss of $21.4 million.
 During the first nine months of 1992, Second National added $22.7 million to loss reserves, bringing total reserves to $ 50.9 million. The level of non-performing assets, net of $19.9 million in specific reserves, declined to $202.9 million as of Sept. 30, 1992, down from a high of $240.1 million at May 30, 1992.
 For the third quarter of 1992, after an addition to loss reserves of $15.0 million, the company reported a net loss of $8.8 million compared with a net loss of $21.0 million for the same period in 1991. Also during the third quarter, the company sold and settled $16.7 million of non-performing real estate assets at a profit of $1.6 million, and has under contract the sale of an additional $23.2 million that are expected to settle before year-end. This brings the total sales and contracts on non-performing assets during 1992 to $81.3 million.
 "We are currently in negotiations with the Office of Thrift Supervision regarding an extension of our Capital Plan. We are pursuing several options to raise the necessary capital during the first half of 1993 to bring the company up to the required regulatory capital levels," said Henry A. Berliner Jr., president and chief executive officer. "Options under consideration include a rights offering to common shareholders, a private placement of capital, or some combination of the two."
 As a result of the addition to loss reserves, at Sept. 30, the company's tangible, core and risk-based capital ratios were .55 percent, .63 percent and 1.64 percent, respectively, vs. the requirements of 1.50 percent, 3.00 percent and 7.20 percent.
 Second National is a $1.5 billion institution with 34 branches in Maryland, Delaware, Pennsylvania, and the District of Columbia.
 -0- 11/13/92
 /CONTACT: Henry A. Berliner Jr., president & CEO, 800-888-5100, or William T. Russell III, senior v.p. & CFO, 800-284-2628, both of Second National Bancorporation/
 (SNLB) CO: Second National Bancorporation ST: Maryland IN: FIN SU: ERN


DC -- DC021 -- 0849 11/13/92 16:25 EST
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Date:Nov 13, 1992
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