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STATE-CHARTERED BANKS DOUBLE EARNINGS

 HARRISBURG, Pa., March 5 /PRNewswire/ -- State Banking Secretary Sarah W. Hargrove said today that Pennsylvania's state-chartered banks earned $633 million for calendar year 1992, or more than double the $271 million they earned in 1991.
 Hargrove attributed the increase primarily to profits on the sale of securities as well as to reductions in provisions for loan losses.
 Total assets increased slightly for the period, from $69.4 billion last year to $70 billion this year. Deposits remained steady at more than $58 billion.
 Equity capital increased 6.2 percent to $5.6 billion, representing 8 percent of total assets for the period.
 A total of 191 banks are included in the year-end figures, up from 186 in 1991. The 191 banks maintain 1,745 full-service branch offices in Pennsylvania.
 Not included in this financial data are 145 nationally chartered Pennsylvania banks regulated by the federal Office of the Comptroller of the Currency.
 /delval/ 3/5/93
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 /CONTACT: Stephanie Maurer, press secretary of the Department of Banking, 717-783-4721/


CO: Pennsylvania Department of Banking ST: Pennsylvania IN: FIN SU: ERN

SM -- PH034 -- 3587 03/05/93 16:46 EST
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Publication:PR Newswire
Date:Mar 5, 1993
Words:188
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