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UNITED NATIONAL BANCORP ANNOUNCES 122 PERCENT THIRD QUARTER REBOUND

 UNITED NATIONAL BANCORP ANNOUNCES 122 PERCENT THIRD QUARTER REBOUND
 BRANCHBURG, N.J., Oct. 22 /PRNewswire/ -- Kenneth W. Turnbull, chairman and chief executive officer of United National Bancorp (NASDAQ: UNJB), parent company of United National Bank, reported an increase in earnings.
 Third quarter net income increased 122 percent to $1,239,000 compared to $558,000 for the same quarter in 1991. Per share earnings were $.53 versus $.24 for the third quarter of 1991.
 Consolidated net income for the nine month period of 1992 was $3,220,000 versus $2,275,000, a 42 percent rebound from the same period a year ago. Per share earnings were $1.38 compared to $.97, for the comparable period in 1991.
 At Sept. 30, 1992, total assets increased to $702,536,000 from $697,358,000 last year. Total deposits grew to $629,430,000 from $619,506,000 in 1991.
 Management continues to pay close attention to problem loans. The provision for loan losses for the first three quarters has been reduced to $1,770,000 from $3,670,000 in 1991. Non-performing loans at Sept. 30, 1992 were $5,776,000, a 16 percent decrease from June 30, 1992 of $6,845,000 and a 29 percent decrease from Dec. 31, 1991 of $8,136,000.
 "With an aggressive calling program in effect, management is confident of increasing market share in all sectors." Mr. Turnbull stated.
 -0- 10/22/92
 /CONTACT: Pierce Baugh, secretary of United National Bancorp, 908-756-5000/
 (UNBJ) CO: United National Bancorp ST: New Jersey IN: FIN SU: ERN


SM-TM -- NY138 -- 3908 10/22/92 17:59 EDT
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Publication:PR Newswire
Date:Oct 22, 1992
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