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SURETY CAPITAL CORPORATION REPORTS QUARTER OPERATING RESULTS

 FORT WORTH, Texas, July 14 /PRNewswire/ -- Surety Capital Corporation (NASDAQ: LOAN), a Fort Worth-based bank holding company, today reported net income of $84,434 for the second quarter of 1993 and $166,560 for the first six months of 1993, compared to $(28,576) and $(17,084) for 1992. Earnings per share amounted to $.043 for the quarter and $.084 for the six months ended June 30, 1993, compared to $(.014) and $(.009) respectively for 1992. Surety's assets were $49,477,976 at June 30, 1993, up 63 percent from $30,334,972 a year earlier. Surety has 1,981,470 shares of common stock outstanding.
 Surety's subsidiary, Texas Bank, N.A., reported net income of $169,134 for the second quarter of 1993, and $280,239 for the first six months of 1993, compared to $71,144 and $157,710 for 1992. Texas Bank's deposits were a record $45,268,309 at June 30, 1993, up 72 percent from $26,337,535 at the same time in 1992. Total net loans were $29,294,190, up 36 percent from $21,491,237 in 1992.
 C. Jack Bean, chairman of Surety Capital, stated, "Surety continues to be an aggressive growth and profit oriented company. Management is actively pursuing acquisition targets, which would increase the company's asset base and earnings potential. Surety's strategic plan is to build a company with long-term stability and profitability."
 -0- 7/14/93
 /CONTACT: C. Jack Bean, chairman of the board of Surety Capital Corporation, 817-498-8154/
 (LOAN)


CO: Surety Capital Corporation ST: Texas IN: FIN SU: ERN

CK -- NY023 -- 1309 07/14/93 10:38 EDT
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Publication:PR Newswire
Date:Jul 14, 1993
Words:270
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