The Baltimore Sun from Baltimore, Maryland • Page 37

Business The Sun Tuesday, January 13, 1998 Page 3c Banking NationsBank profit for quarter up 29 to $818 million NationsBank had $62 million in gains from the sale of securities in the quarter, up from $33 million; the same time a year earlier. The company's loan portfolio remained strong with $1.14 billion; in loans listed as nonperforming, or 0.79 percent of NationsBank's total loan portfolio. Goodman expects NationsBank to continue growing through acquisition. "They should push to the West' Coast to really do the full she said. "I think their move with Boatmen's and Barnett was in Maryland.

It operates in 16 states and the District of Columbia. NationsBank's strong performance was helped by rising loans, which grew to $142.7 billion in 1997, up 17.4 percent for the same period a year earlier. Net interest income, which is generated largely from loans and investments, was up 25 percent to $2.02 billion in the quarter compared with a year earlier. Noninterest income, or income from brokerage, investment banking and deposit accounts, soared 57 percent to $1.50 billion in the quarter. Acquisitions, fee income credited; rise for year 30 sidering the large acquisitions they have made.

I think they earnings will be even better next year." For the year, net income jumped 30 percent to $3.08 billion compared with net income of $2.38 billion in 1996. Earnings per share rose 7 per cent, to $4.27 per share, in 1997, compared with $4.00 in 1996. Excluding a merger-related charge in the first quarter of 1996, operating net income and earnings per share for 1996 was $2.45 billion and $4.13 respectively. "Combined with last week's merger with Barnett, we enter 1998 with added momentum," said Hugh L. McColl chief executive of NationsBank, the country's third-largest banking company with $310 billion in assets.

NationsBank entered Baltimore in 1993, buying MNC Financial Inc. It has 202 branches, 558 ATMs and about 4,600 employees By Bill Atkinson 8UN STAFF NationsBank net income shot up 29 percent in the fourth quarter, driven by acquisitions and higher fees from investment banking, deposit accounts and brokerage operations, the company said yesterday. Net income rose to $818 million in the quarter that ended Dec. 31, 1997, or $1.15 a share, compared with $632 million, or $1.09 a share for the same period a year earlier. The earnings were boosted by several large acquisitions.

Last year, Charlotte, N.C.-based NationsBank acquired Boatmen's Bancshares Inc. of St. Louis and San Francisco-based Montgomery Securities Inc. This month, it closed a deal to buy Barnett Banks Inc. of Jacksonville, for $15.5 billion in stock.

"I was impressed," said Joan T. Goodman, a bank analyst at Chicago-based Pershing, a division of Donaldson Lufkin Jenrette. "I thought they were quite good con- I i Lx I I 1 .1 1 i i I rk i i I 'Ail Appellate court allows WNUV shift to Warner 4 other stations in 4 states affected by ruling backing Sinclair Broadcast Group By Andrea F. Sieoel BUN STAFF I iy Urn I Introducing Digital PCS. The largest digital wireless service in North America arrives in Baltimore.

These days, more people are working outside their offices. That's a good reason to work with Digital PCS. Advanced digital features like Caller ID, VoiceMail, and Text Messaging give you the mobility and flexibility you need to stay connected in more cities with the largest digital wireless network in North America. One low, flat rate for roaming helps any business monitor its costs, so there are no surprises. Up to 40 hours of battery life make sure you're up and running longer After all, since you work in so many places, your phone should, too.

For more information, call I 800-249-3238. Or visit us at www.att.comwireless Maryland's intermediate appellate court yesterday refused to block the switch of Channel 54 from affiliation with the United Paramount Network to Warner Brothers. The Court of Special Appeals ruling, anticipated by UPN, may not be appealed. UPN had already found a new local universe for its starship, "Star Trek: Voyager," on Channel 24. The decision also clears the way for the entry Friday of the WB Network, home of "Buffy, the Vampire Slayer," into the Baltimore market.

"We were confident that we would win," said Michael J. Collins, one of several attorneys for the Sinclair Broadcast Group, which operates WNUV. The four-line decision affects four other Sinclair stations, in-Pittsburgh, Cincinnati, San Antonio and Oklahoma City, and may influence the outcome of four more involved in an identical court battle in California. Last summer, Baltimore-based Sinclair signed a 10-year, $84 million deal with Warner Brothers to switch five stations, including WNUV, to WB affiliation. Sinclair canceled its UPN affiliation for those stations, prompting UPN to challenge the validity of the termination.

But UPN lost in Baltimore Circuit Court last month and again yesterday. UPN declined to comment. The loss could have shoved UPN out of the Baltimore market. While in some cities, there are' enough local stations to offer each of the six networks ABC, CBS, NBC, Fox, WB and UPN a spot on the dial, Baltimore had only five stations. In something akin to the game of musical chairs, WB was left out until now.

But UPN had no intention of being omitted. In November, the co-owner of UPN, Chris-Craft United Television, bought Channel 24, WHSW. It will move "Star Trek: Voyager" there and bring in its other programs some time during the first quarter of this year, according to a UPN spokeswoman. The call letters will be changed as well. The Home Shopping Network has been planning a move to cable.

In arguments before the Court of Special Appeals, lawyers for UPN claimed that the company was not given written 180-day notice by Sinclair that their agreement was being canceled, and Sinclair's attorneys countered that the contract allowed for 120-day notification. The three-judge panel ruled that the notification provided was adequate. Wireless Services pA8iI" It's all within your reach..