Second National BancorporationThe parent company of Second...

BY THE NUMBERS

April 29, 1992

Second National Bancorporation

The parent company of Second National Federal Savings Bank reported income of $9.5 million in the first quarter as the result of an extraordinary gain of $10.4 million.

The one-time gain stemmed from restructuring subordinated debentures into preferred stock, which converted some of the company's debt into equity. Without that gain, the company would have lost $1.2 million in the first quarter.

The company also said it has consented to a supervisory agreement and capital directive issued by the Office of Thrift Supervision, the federal regulator of savings and loans.

The OTS directive urges Second National to use its "best effortsmeet capital requirements by the end of the year, said Henry A. Berliner Jr., president and chief executive of the Annapolis-based company.

Three months ended 3/31/92

.. .. .. .. Income .. .. .. .. Share

'92 . .. ..9,532,000 .. .. ..1.30

'91 . .. ... (105,000) . ... (0.01)

change .. .. ... -- .. .. .. . --

.. .. .. .. Assets .. .. .. .. Deposits

'92 . ..1,647,929,000 . .. .1,232,112,000

'91 . ..1,756,078,000 . .. .1,260,085,000

% change .. .. .. -6.2 . .. .. .. .. . -2.2

Loan portfolio

Three months ended 3/31/92

.. .. .. .. Loans outstanding .. .. .. .. Net charge-offs

'92 . .. ..1,258,844,000 ... .. .. .. ..733,000

'91 . .. ..1,433,751,000 ... .. .. .. .. .. . --

% change .. .. .. . -12.2 ... .. .. .. .. .. . --

.. .. .. .. Addition to allowance .. .. .. .. Allowance

.. .. .. .. for loan losses .. .. .. .. .. for loan losses

'92 . .. .. ..2,100,000 .. .. .. .. .. .. ..50,400,000

'91 . .. .. ..1,500,000 .. .. .. .. .. .. ..27,200,000

% change .. .. ... +40.0 .. .. .. .. .. .. .. .. . +85.3

MedImmune Inc.

A slight increase in revenues during this year's first quarter was offset by a major increase in research and development costs at this Gaithersburg biotechnology company.

MedImmune's earnings in the three months ended March 31 dropped 69 percent to $95,000, or 1 cent a share, from $307,000, or 2 cents a share, a year ago.

Revenues increased as the shipments of CytoGam, a new drug for treating kidney transplant patients, rose in the first quarter. The company's research and development costs rose nearly 50 percent to $2.5 million.

Three months ended 3/31/92

.. .. .. .. .. Revenue .. .. .. .. Net .. .. .. Share

'92 . .. .. ..3,806,000. .. .. .95,000. .. ...0.01

'91 . .. .. ..3,705,000. .. ...307,000. .. ...0.02

% change .. .. .. . +2.7 ... .. .. -69.1. .. .. -50.0

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