
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: SATURDAY, July 15, 1995                   TAG: 9507170049
SECTION: BUSINESS                    PAGE: A-6   EDITION: METRO 
SOURCE: MAG POFF STAFF WRITER
DATELINE:                                 LENGTH: Short

NBC PARENT BANK REPORTS RECORD 2ND-QUARTER GAINS

National Commerce Bancorp., parent of NBC banks operating inside Kroger supermarkets, reported record second-quarter earnings.

The Memphis, Tenn.-based company said its income was $11.8 million, up 10.2 percent from the $10.7 million reported for the same period a year earlier. Earnings per share rose 9.3 percent from 43 cents to 47 cents.

For the six months, income totaled $23 million, or 92 cents a share, an increase of 10 percent from the $20.9 million earned in the first six months of 1994.

Chairman Thomas Garrott said loan demand grew in both commercial and consumer areas. Quarter-end loans increased by $178 million, or 11.6 percent, to $1.7 billion.

The company experienced "excellent" loan quality trends, Garrott said. Nonperforming loans and assets totaled $58,000 at the end of June, compared with $1.7 million on the same date last year.

Garrott said the performance stemmed from continuing improvement in net interest earnings, excellent loan quality and strong contributions from fee-generating areas. The quality of the loan portfolio allowed a $714,000 decrease in the loan-loss provision.

The company had quarter-end assets of $3 billion.

by CNB