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SUBURBAN BANCORP REPORTS THIRD QUARTER EARNINGS INCREASE

 PALATINE, Ill., Oct. 15 /PRNewswire/ -- Today Suburban Bancorp (NASDAQ NMS: SUBBA) reported third quarter net income of $3.46 million, a 4.6 percent increase over the previous third quarter record established in 1992 of $3.31 million.
 Per share earnings were $1 and $0.99 for the third quarters of 1992 and 1991, respectively. President Gerald F. Fitzgerald Jr. said third quarter earnings were impacted by expenses incurred in connection with the merger between State Bank of Huntley and Suburban.
 As of Sept. 30, Suburban's 1993 year-to-date net income, $11.49 million or $3.39 per share, was 29.3 percent higher than 1992 year-to-date net income of $8.89 million or $2.62 per share.
 Assets increased 12 percent year-to-year from $1.15 billion on Sept. 30, 1992, to $1.29 billion on Sept. 30 this year. During the same time period deposits increased 12 percent to $1.17 billion from $1.04 billion.
 Loans were up 14.4 percent from $481.6 million on Sept. 30, 1992 to $550.76 million on Sept. 30, 1993.
 Book value per share increased 16.3 percent from $24.53 to $28.54 between Sept. 30, 1992 and Sept. 30, 1993.
 Suburban Bancorp's 13 banking subsidiaries operate 30 offices as Marengo State Bank; State Bank of Huntley; State Bank of Woodstock; Suburban Banks of Barrington, Bartlett, Cary-Grove, Hoffman-Schaumburg, Oakbrook Terrace, Rolling Meadows and West Brook (Westchester); Suburban National Banks of Aurora, Elk Grove Village, and Palatine.
 SUBURBAN BANCORP
 Balance Sheet Highlights
 (in millions)
 Quarter ended
 9/30/93 9/30/92
 Assets $1,290.723 $1,152.757
 Deposits $1,166.259 $1,041.381
 Loans $550.761 $481.596
 Operating Highlights
 (in millions except per share data)
 Quarter ended
 9/30/93 9/30/92
 Net income $3.458 $3.307
 Net interest income $12.175 $11.319
 Provision for
 loan losses $0.315 $0.431
 Earnings per share $1.00 $0.99
 Nine months ended
 9/30/93 9/30/92
 Net income $11.495 $8.891
 Net interest income $35.153 $32.379
 Provision for loan losses $1.710 $1.799
 Earnings per share $3.39 $2.62
 Average shares outstanding 3.390 3.399
 -0- 10/15/93
 /CONTACT: Gerald Fitzgerald Jr. of Suburban Bancorp, 708-350-1077/
 (SUBBA)


CO: Suburban Bancorp ST: Illinois IN: FIN SU: ERN

LG -- NY025 -- 2671 10/15/93 10:46 EDT
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Publication:PR Newswire
Date:Oct 15, 1993
Words:398
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