KALAMAZOO, Mich. -- First of America Bank Corp. estimated its second-quarter net income will fall about 12% shy of the 1993 level, and well below analysts' expectations.

Chief financial officer Thomas W. Lambert said the corporation expects to report net income of about 90 cents per fully diluted share for the quarter ending June 30, down from $1 a year ago.

The Wall Street consensus was $1.04 a share. Mr. Lambert said the net interest margin would fall by at least 20 basis points from 4.92% in last year's second quarter. Most of the margin decline reflects costs related to the acquisitions of LGF Bancorp in Illinois and Goldome Federal Savings in Florida.

Mr. Lambert also cited a slow repricing on deposits acquired from another Florida thrift in August, as well as price cuts on credit cards and indirect loans.

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