Yardville National Bancorp Begins 2001 with Increased First Quarter Earnings.

YARDVILLE, N.J., April 23 /PRNewswire Interactive News Release/ -- Yardville National Bancorp (Nasdaq: YANB) today announced the continuation of increases in both net income and earnings per share. Net income was up 13.8 percent over the first quarter of last year, while diluted earnings per share increased 2.8 percent compared to the same period in 2000.

For the quarter ended March 31, 2001, YNB's net income was $2.7 million, up from the $2.4 million earned in the same period a year ago. Earnings per share on a diluted basis rose to $0.37 for the first quarter of 2001, compared with $0.36 per diluted share in the prior year. The increase in diluted earnings per share was limited due to higher average shares outstanding, as a result of YNB's June 2000 private common equity offering.

"Our ongoing success can be attributed to our continued strong focus on the communities we serve -- both old and new," noted YNB CEO and President Patrick M. Ryan. "In the past year, we have opened offices in Flemington and in Lawrence Township, bringing our special brand of community banking to new neighborhoods, while expanding the services we bring to our core communities in Mercer County as well. In the coming quarter, we plan to open our first office in Burlington County, in Bordentown, and we are finalizing plans for the opening of a regional headquarters in Flemington in the near future," he added.

In 2001, YNB has also expanded the range of financial products and services offered to customers with the introduction of insurance products available through YNB Financial Services, Inc. As another plus, the investment expertise of Salomon Smith Barney can now be accessed by YNB customers at several Investment Centers within YNB branches and over the telephone.

"We feel this adds value to our customer relationships," said YNB Chairman Jay G. Destribats. "It helps us to meet their financial needs while allowing customers to do more business with an institution they know and trust. We see it as a "win-win" situation for everyone."

YNB's expansion in products and geography has already yielded results in the first quarter of the year. Total deposits at March 31, 2001 increased to $966.3 million, a 21.3 percent increase over total deposits of $796.3 million at March 31, 2000. These increased deposits support YNB's ongoing growth in loans and investments. At March 31, 2001, total loan outstandings increased 21.3 percent over the same date a year ago, reaching $845.1 million compared with a total of $696.5 million twelve months ago.

With a larger portfolio and a softening economy, YNB continues to monitor loan quality carefully. As a result, overall credit quality remains strong. Nonperforming assets for the comparative period remained level,…