Printer Friendly

SURBURBAN BANCORP REPORTS EARNINGS

 SURBURBAN BANCORP REPORTS EARNINGS
 PALATINE, Ill., April 16 /PRNewswire/ -- Today Suburban Bancorp


(NASDAQ: SUBBA) today reported that first quarter net income increased 58.4 percent from $1.58 million or $0.45 per share in 1991 to $2.51 million or $0.73 per share in 1992. Net interest income for the quarter ended March 31, 1992, was $10.31 million, 16.5 percent higher than the $8.85 million reported a year earlier.
 Suburban's 1992 earnings set a first quarter record for the multibank holding company.
 President and CEO Gerald F. Fitzgerald Jr. attributed Suburban performance to an improved net interest margin, increased noninterest income and continued cost controls.
 Company assets grew 12.3 percent, from $983.66 million on March 31, 1991, to $1.105 billion on March 31, 1992. During the first quarter, year-to-year, noninterest bearing deposits increased 13.8 percent and interest bearing deposits 12.6 percent. During the same period, loans were up 6 percent to $450.92 million for 1992 from $425.35 million the year earlier.
 At quarter end March 31, 1992, book value was $23.07 per share, 10.6 percent higher than March 31, 1991, book value of $20.85.
 Suburban Bancorp operates 13 banks with 29 offices in metropolitan Chicago.
 SUBURBAN BANCORP
 Balance Sheet Highlights
 (In millions)
 Quarter ended March 31 1992 1991
 Assets $1,104.81 $983.66
 Deposits $1,003.78 $889.51
 Loans $ 450.92 $425.35
 SUBURBAN BANCORP
 Operating Highlights
 (In millions except per share data)
 Quarter ended March 31 1992 1991
 Net income $ 2.51 $1.58
 Net interest income $10.31 $8.85
 Provision for loan losses $ .61 $ .75
 Earnings per share $0.73 $0.45
 -0- 4/16/92
 /CONTACT: Edward Murawski of Suburban Bancorp, 312-359-1077/
 (SUBBA) CO: Suburban Bancorp ST: Illinois IN: FIN SU: ERN


GK -- NY038 -- 9189 04/16/92 10:37 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 16, 1992
Words:312
Previous Article:BRIAN WRUBLE NAMED PRESIDENT AND A DIRECTOR DELAWARE MANAGEMENT HOLDINGS
Next Article:U.S. BANK OF WASHINGTON JOINS FEDERAL HOME LOAN BANK OF SEATTLE


Related Articles
/C O R R E C T I O N -- FORTUNE BANCORP FIRST QUARTER EARNINGS/
COMMERCIAL BANCORP REPORTS RECORD FOURTH-QUARTER EARNINGS
BSD BANCORP ISSUES RESTATED 1991 EARNINGS REPORT
COMMERCIAL BANCORP REPORTS RECORD FIRST-QUARTER EARNINGS
CHATTAHOOCHEE BANCORP POSTS FIRST QUARTER EARNINGS
SUBURBAN ANNOUNCES QUARTERLY DIVIDEND
COMMERCIAL BANCORP REPORTS RECORD SECOND-QUARTER EARNINGS
CAPITAL BANCORP REPORTS 75 PERCENT INCREASE IN SECOND-QUARTER EARNINGS
CAPITAL BANCORP REPORTS 44% INCREASE IN EARNINGS DURING 1993
Fifth Third Bancorp Receives Regulatory Approval to Acquire Suburban Bancorporation Inc.; Suburban Shareholders Approve Deal

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters