Cape May County Herald, 24 July 1985 IIIF issue link — Page 55

_business

§ MARK R. SORENSEN. M.D.

a JOSEPH McMENAMIN. D.O.

Burdette Tomlin Adds 2 Doctors

COURT HOUSE - Two physicians, including the son of the hospital's cardiology chief, have been added to the associate staff of Burdette Tomlin Memorial Hospital here. They are Mark R. Sorensen, M.D., and Joseph McMenamin. D.O. Dr. Sorensen, a specialist in cardiology and internal medicine, received a Bachelor of Science degree in biology at the College of William and Mary in Williamsburg, Va. He was awarded a Davis Merit Scholarship for his studies there and earned Phi Beta Kappa honors at the college. DR. SORENSEN received his M.D. from the John Hopkins School of Medicine, Baltimore, Md. His internship and WAGNER UPHOLSTERY Summer Re-Upholstery Sale! Decorator cotton Fabrics up to ... 1/3 Off Rcfl. Price CALL 263-3422 263-3297 6604 Landis Ave.. Sea Isle City

residency in internal medicine were served at the Medical College of Virginia Hospitals in Richmond. He also served a two-year clinical fellowship in cardiology in the Mid-Atlantic Heart and Vascular Institute, Presby-terian-University of Pennsylvania Medical Center, Philadelphia. He is board certified in internal medicine and board eligible in cardiology. He is a member of the American Medical Association, Americal College of Physicians, and American College of Cardiology. The son of BTMH cardiology chief Robert Sorensen, he is associated in practice with Henry J. Komansky, D.O., in Court House. DR. McMENAMIN, a specialist in family practice, has been welcomed to the associate staff of Burdette Tomlin. Dr. McMenamin received his D.O. from the Philadelphia College of Osteopathic Medicine He served his internship at West Side Osteopathic Hospital in York, Pa., and served a cardiac fellowship at Hahnemann Medical College in Philadelphia. He has a background of over 30 years experience in private practice in Pennsylvania. He served on the active staff of Memorial Osteopathic Hospital in York and was director of diagnostic cardiology there for five years. A researcher and teacher, Dr. McMenamin has several published works related to his special interest in cardiology. Dr McMenamin has relocated to Avalon and opened an office there.

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Midlantic Reports Quarterly Record

EDISON — Midlantic Banks Inc. has announced record results for the second quarter of 1985. . Consolidated net income I for the three-month period I ended June 30. reached $22 I million, compared to the I $15.6 million reported for the second quarter of 1984. Fully diluted earnings per common share rose to Sl.ll. from $.99 for the same pefiod of last year, an increase of 12.1 percent FDR THE first six months of 1985. Midlantic's net income was $39.3 million, as compared to $29.7 million reported a year earlier. Mid-year 1985 fully diluted earnings per common share were $2 12. up from $1 .89 for the first half of 1984 "Midlantic's improved earnings- performance for the second quarter, which reflects the results of Heritage Bancorporation from May 1, the date of acquisition. was primarily due to the further growth of our loan portfolio, a strong net interest margin, and con-

tinued effective control of I operating expeases." stated I Robert Van Buren. chair man and chief executive officer of Midlantic. I AS OF June 30. Midlan- ! tic's total assets reached a record high of $9,522 billion, up from $6,576 billion a year earlier. Total loans increased to $5,929 billion from $3 866 billion at the same date last year, deposits grew to $7 528 billion from $5,194 billion a year earlier, and shareholders' equity was $541 million at June 30. 1985. versus $361 million at June 30. 1985. Return on average assets, on an annualized basis, was 1.02 percent for the second quarter, and return on average shareholders' equity was 17.95 percent for the period, both above industryaverages Midlantic's ratio of the allowance for loan losses to total loans at the end of the second quarter was also above industry averages at 1 .82 percent

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