St. Louis-based Magna Group Inc. netted $9.1 million, or 37 cents a share, in the second quarter, a 29% increase from the year-earlier period.
The bank said nonperforming assets declined 44% from a year ago to $35.2 million. Return on assets at the company, which has $3.6 billion of assets, was 1.02%, compared with 0.76% for the second quarter of 1992.
Looking ahead, William S. Badgley, the company's chairman and chief executive office, projected that 1993 earnings could achieve "the lower end" of estimates, which range from $1.50 to $1.70 a share.
