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Non-Tech : Riggs National [RIGS] -- Ignore unavailable to you. Want to Upgrade?

To: Axxel who wrote (21)	3/9/1999 6:52:00 PM
From: Stockdoctor	Respond to of 23

Axxel, how come you have not recommended INSP...it seems to have more potential than XMCM....looks very powerful and ready to breakout to the upside.

To: Axxel who wrote (21)	4/6/2000 8:31:00 AM
From: leigh aulper	Respond to of 23

AX--check this out-- Have a new price target? Riggs National Corporation Reports 50% Earnings Increase for the First Quarter of 2000 WASHINGTON--(BUSINESS WIRE)--April 6, 2000--Riggs National Corporation (NASDAQ: RIGS) today reported $11.6 million of net income for the first quarter of 2000, 50% higher than the $7.7 million in the first quarter of 1999, primarily due to gains in the company's venture capital business. Earnings per diluted share for the first quarter of 2000 were $.41 compared to the $.26 reported in the first quarter of 1999. Joe L. Allbritton, chairman and chief executive officer of Riggs National Corporation, said, "It was a strong first quarter. We are especially pleased with the significant contribution made over the quarter by one of our newest business lines, Riggs Capital Partners. This, together with continued gains in the trust and financial advisory business, reinforces our strategic focus on building the noninterest income segments of the enterprise." Noninterest Income Noninterest income for the first quarter of 2000 totaled $32.5 million, an increase of $8.2 million, or 34%, from the $24.3 million in the first quarter of 1999. Contributing to the gains in noninterest income, in addition to $7.0 million in venture capital gains, was an 8% increase in trust and advisory income fees at Riggs & Company, Riggs's private client services division. Net Interest Income Net interest income for the first quarter of 2000 was $49.0 million compared to $45.8 million for the same quarter in 1999. Noninterest Expense Noninterest expense for the 2000 first quarter was $53.8 million, compared to $50.2 million in the year-ago quarter, due partially to costs of starting up new initiatives. Capital Position The corporation continues to maintain a strong capital position, with total and leverage capital ratios of 24.46% and 8.74% at March 31, 2000, compared to regulatory minimums of 8.0% and 4.0%. Nonperforming Assets Nonperforming assets, including other real estate owned, were $42.1 million at March 31, 2000, compared to $30.1 million at March 31, 1999. The reserve for loan losses at March 31, 2000 was $38.2 million compared to $53.0 million from a year earlier. Dividend Separately, the Board of Directors of Riggs National Corporation declared a dividend of $.05 on its Common Stock. The dividend is payable May 1, 2000, to shareholders of record on April 24, 2000.