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VERIBANC ANALYSIS OF FIRST QUARTER 1993 BANK DATA

 WAKEFIELD, Mass, June 28 /PRNewswire/ -- VERIBANC, Inc. reported its analysis of the Federal Reserve Board's 6/25/93 bank data release. That data contained detailed financial call reports for each of the nation's 11,867 banks. The study, titled "BANKS PROFIT, LENDING LANGUISHES, HOMEOWNERS GROAN A BIT LESS" indicates that while the U.S. banking industry's overall health has improved, there are still too many problem institutions. Seventy-seven banks nationwide remain in VERIBANC's low Red, No-stars category. California, Texas, Connecticut, Massachusetts, and Florida each have more than five banks with their capital classifications below government requirements.
 The study observes improvements in California, and surprisingly more bank lending capacity in each state than is generally recognized. Delinquency trends have improved for one to four family homes in most states but have worsened in California, Hawaii and Washington. States/territories with the highest percentages of home mortgage deliquencies are Puerto Rico, New York, New Jersey, New Hampshire and Connecticut. The study also notes that DEPOSITSURE(R), the nation's first widespread program to insure bank deposit accounts that are over the FDIC limit, has experienced a minimal number of applications for coverage at weak banks.
 VERIBANC is a private bank rating and research firm that specializes in providing plain English information to consumers and business people outside of the banking industry. In addition, the company performs specialized analysis and research for bank and nonbank clients including corporate, institutional and government agencies as well as federal and state bank regulators. Rating for any bank, thrift or credit union in the country are available from VERIBANC for as little as $10 for the first institution and $5 for each additional institution. The company also sells more detailed reports.
 /NOTE TO EDITORS: A four-page summary of the study and more detailed information are available upon request./
 -0- 6/28/93
 /CONTACT: Warren G. Heller, research director of VERIBANC, 617-245-1226/


CO: VERIBANC ST: Massachusetts IN: FIN SU: ERP

CM -- NE002 -- 6084 06/28/93 08:17 EDT
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Publication:PR Newswire
Date:Jun 28, 1993
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