Mercantile profit up 7%, to $21 million for quarter

January 21, 1994|By Ian Johnson | Ian Johnson,New York Bureau

NEW YORK -- Mercantile Bankshares Corp., a conservative bank holding company with 17 community banks in Maryland, yesterday reported another year of steady-as-she-goes financial results.

2 .. .. .. .. ..Ticker.. .. .. .. .. Yesterday's

.. .. .. .. .. ..Symbol .. .. .. .. .. Cls... .. Chg.

.. .. .. .. .. ..MRBK .. .. .. .. .. ..19 3/4 .. .. .unch.

Period ended

Dec. 31.. .. .. .. .. 4th qtr.. .. .. .. Year ago. .. .. .. .. Chg.

Net Income .. .. .. ..$20,930 .. .. .. ..$19,552 . .. .. .. .. +7.0

Primary EPS .. .. .. ..$0.46 .. .. .. .. .$0.42 .. .. .. .. .. +9.5

Annualized return

on assets .. .. .. .. .. 1.51% .. .. .. ..1.46% .. .. .. .. .. .. --

Add. to allowance

for loan losses .. .. ..3,172.. .. .. .. 5,118 .. .. .. .. ...-38.0%

.. .. .. .. ... Year.. .. .. ..Year ago .. .. .. .. .. ... ... Chg.

Net Income .. ..$82,416 .. .. ..$76,298 .. .. .. .. .. .. .. ..+8.0%

Primary EPS .. .. $1.80 .. .. .. $1.67 .. .. .. .. .. .. .. .. +7.8%

Annualized

return on assets.. 1.52%.. .. .. 1.45 .. .. .. .. .. ... ... .. ..--

Add. to allowance

for loan losses .. ..12,644 .. ..45,346 .. .. .. ... .. .. .. ..-72.1

.. .. .. .. .. .. .. Balances as of .. .. .. .. .. ..12/31/93... .. .. .. .. .. .. 12/31/92

HAssets .. .. .. ..$5,554,008 .. .. .. .. .. ..$5,459,577 .. .. ..+1.7%

Deposits .. .. .. $4,523,964 .. .. .. .. .. ..$4,517,165 .. .. ..+0.2%

Loans outst. .. ..$3,577,420 .. .. .. .. .. ..$3,489,474 .. .. ..+2.5%

Loan loss

reserve .. .. .. ..89,827 .. .. .. .. ... .. ..88,261 .. .. .. .. +1.8

Figures in thousands (except per share data.)

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