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UNICORP AMERICAN CORPORATION ANNOUNCES FIRST QUARTER FINANCIAL RESULTS

UNICORP AMERICAN CORPORATION ANNOUNCES FIRST QUARTER FINANCIAL RESULTS
 NEW YORK, May 11 /PRNewswire/ -- Unicorp American Corporation (AMEX: UAC) announced today its financial results for the first quarter of 1992, which include the financial results of The Lincoln Savings Bank, FSB.
 For the three months ended March 31, 1992, Unicorp reported consolidated revenues of $48.4 million and a net loss of $3.8 million. This compares with consolidated revenues of $60.3 million and a net loss of $5.0 million for the first quarter of 1991.
 Unicorp reported a net loss attributable to common shareholders of $4.1 million or $0.23 per share, as compared to a loss of $5.3 million or $0.30 per share for the three months ended March 31, 1991.
 For the three months ended March 31, 1992, Lincoln Savings Bank, FSB, reported, on a separate company basis, a net loss of $769,000 as compared to net loss of $3.9 million for the same period of 1991. Net interest income, after a provision of $1.5 million for losses on loans, was $14.6 million for the three months ended March 31, 1992, compared to $9.9 million in 1991 after a provision for losses on loans of $6 million.
 UNICORP AMERICAN CORPORATION
 Summary Financial Data
 Consolidated Statements of Operations
 Three Months Ended March 31 1992 1991
 (Unaudited; dollars in thousands, except per share data)
 Total revenues $48,439 $60,332
 Net loss (3,826) (5,048)
 Preferred dividend requirements 225 225
 Net loss attributable to common shareholders (4,051) (5,273)
 Net loss per share $(0.23) $(0.30)
 Consolidated Statements of Condition
 (In thousands, except As of 3/31/92 As of 12/31/91
 for common shares outstanding) (unaudited)
 Total assets $2,478,806 $2,564,868
 Loans, net 1,546,763 1,594,752
 Investments 503,852 558,188
 Net liability for discontinued opers. 11,173 11,073
 Deposits 2,179,970 2,246,252
 Other borrowed funds 189,986 206,530
 Shareholder's deficit (39,726) (35,675)
 Common shares outstanding 17,305,595 17,305,042
 -0- 5/11/92
 /CONTACT: Ralph V. Marra of Unicorp American Corporation, 516-932-3513/
 (UAC) CO: Unicorp American Corporation ST: New York IN: FIN SU: ERN


DM-JS -- NY060 -- 8670 05/11/92 13:12 EDT
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Publication:PR Newswire
Date:May 11, 1992
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