BANK: CAPITAL INCOME INCREASES

Capital Bancorporation's net income for the three months and nine months ending Sept. 30 were $1,333,000 and $3,707,000, respectively.

Earnings per share for the three months ending Sept. 30 were 59 cents, representing a 23 percent third-quarter increase over the same quarter a year ago. Earnings for the first nine months were $1.82 per share, a 36 percent increase over 1990 figures.

Total assets for Capital Bancorporation were $562,238,000.

Capital Bancorporation's return on assets was 0.93 percent for the quarter and 0.86 percent for the nine-month period. Nonperforming loans at the end of the quarter were $3,868,000 compared to $3,225,000 on June 30 and $3,625,000 at the end of 1990. The allowance for possible loan losses was $6,414,000 on Sept. 20, representing approximately 166 percent of nonperforming loans and approximately 1.47 percent of total loans.

"We have had a favorable quarter," said Van H. Puls, chairman of the board and chief executive officer. "We have a good year in progress."

Puls said a combination of managing a lot of issues is responsible for the good showing. "We have continued to enjoy good asset quality," he said. "The ratio numbers bear that out.

"We have also maintained our net interest margin even in the falling interest-rate environment," said Puls. "We've also done a good job of controlling our overhead."

During August, Capital Bancorporation completed a public offering of 1,030,195 shares of its common stock. The proceeds were used to redeem all of the company's outstanding preferred stock, reduce debt by $2,265,000, and for general, corporate purposes. The common stock is listed on the NASDAQ National Market System under the symbol, "CABK."

The Board of Directors of Capital Bancorporation Inc., declared a quarterly cash dividend of 15 cents per share on its common stock on Oct. 21, payable on Nov. 7, to shareholders of record Oct. 31.

In connection with the company's public offering of common stock, the board had previously announced its intentions to increase its quarterly cash dividend from 9 cents to 15 cents per share.

Capital Bancorporation Inc., is a multi-bank holding company headquartered in Cape Girardeau. The company operates 17 banking facilities through five affiliate banks in Southeast, Central and Eastern Missouri.