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SOUTHWEST NATIONAL CORPORATION ISSUES EARNINGS

 SOUTHWEST NATIONAL CORPORATION ISSUES EARNINGS
 GREENSBURG, Pa., April 21 /PRNewswire/ -- Southwest National


Corporation (NASDAQ: SWPA), parent company of Southwest Bank reported net income of $1.660 million or $0.62 per share for the first quarter ending March 31, 1992.
 This represents an increase of 17.3 percent, or $0.245 million, from the $1.415 million, or $0.53 per share earned in the first quarter of 1991.
 "We are pleased to begin 1992 with a strong earnings report," stated David S. Dahlmann, president and chief executive officer. "We have benefitted, along with most of the banking industry, from an improvement in our net interest margin. We are also benefitting from continued high asset quality and an emphasis on cost management that has allowed more of the margin improvement to reach our bottom line as net income."
 "Other than a busy period of mortgage refinancing, loan volume continues to be sluggish in our markets," said Dahlmann. "However, we have begun to see signs of a recovery in demand toward the end of the first quarter, particularly from the business sector. As a result, we are cautiously optimistic about a trend toward a gradual improvement in the local economy for the remainder of 1992."
 Total assets for the corporation were $669.2 million at March 31, an increase of $54.1 million from $615.1 million reported at the same time last year. The increase in assets is due largely to the acquisition in November 1991 of the Latrobe branch of Atlantic Financial from the RTC. Southwest reports that the consolidation of the acquired branch with existing operations has proceeded very smoothly.
 SOUTHWEST NATIONAL CORPORATION AND SUBSIDIARY
 Financial Highlights
 March 31, 1992
 (In thousands, except per share amounts)
 PERCENT
 1992 1991 CHANGE
 First Quarter
 Net income $1,660 $1,415 17.3
 Cash dividends 692 638 8.5
 Return on average assets 1.00 pct. .93 pct.
 Return on average
 shareholders' equity 11.79 10.71
 Net interest margin 4.47 4.39
 Per Share:
 Net income $0.62 $0.53 17.0
 Cash dividends $0.26 $0.24 8.3
 At March 31,
 Shareholders' equity 57,137 53,319 7.2
 Total assets 669,167 615,094 8.8
 Loans 325,967 316,878 2.9
 Investment securities 263,012 205,635 27.9
 Money Market Investments 38,737 57,029 (32.1)
 Deposits 606,941 556,788 9.0
 Period-end ratios at
 March 31,
 Book Value per share $21.48 $20.04 7.2
 Risk-based capital
 ratios (A):
 Tier 1 capital 16.68 pct. 16.47 pct.
 total capital 17.56 17.38
 Leverage capital ratio 8.52 8.67
 Nonperforming assets to
 loans, other real estate
 owned and other
 repossessions 0.78 0.43
 Nonperforming loans to loans 0.35 0.37
 Loans past due 90 days or
 more to loans 0.41 0.66
 Reserve for possible loan
 losses to nonperforming
 loans 266.84 247.18
 (A) Calculated under regulatory guidelines for year-end 1992.
 -0- 4/21/92
 /CONTACT: Donald A. Lawry, executive vice president of Southwest National Corporation, 412-832-6115/
 (SWPA) CO: Southwest National Corporation ST: Pennsylvania IN: FIN SU: ERN


JT -- PG010 -- 0684 04/21/92 13:01 EDT
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Date:Apr 21, 1992
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