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AMERICAN BANK OF CONNECTICUT REPORTS EARNINGS

 WATERBURY, Conn., July 8 /PRNewswire/ -- Gene C. Guilbert, president of American Bank of Connecticut (AMEX: BKC), announced today that the bank's net income for the second quarter of 1993 was $1,528,000. Net income for the same period in 1992 was $1,214,000. Net income per share for the quarter was $.69 compared to $.55 in 1992.
 For the six months ending June 30, 1993, net income was $3,046,000 or $1.38 per share, compared to $2,410,000 or $1.10 per share earned during the same period of 1992.
 American Bank of Connecticut is a state chartered savings bank with assets of $458 million, shareholders' equity of $36 million and a period ending book value per share of $16.32. It is headquartered in Waterbury, Conn. The bank's shares are traded on the American Stock Exchange under the symbol BKC.
 AMERICAN BANK OF CONNECTICUT
 Quarter: June 30, 1993 1992
 Net income $1,528,000 $1,214,000
 Per share earnings 0.69 0.55
 Average shares 2,204,849 2,185,000
 Dividends per share 0.33 0.33
 Year to date:
 June 30, 1993 1992
 Net income $3,046,000 $2,410,000
 Per share earnings 1.38 1.10
 Average shares 2,204,264 2,183,800
 Dividends per share .66 .66
 -0- 7/8/93
 /CONTACT: Betty Veillette of American Bank of Connecticut, 203-757-9401/
 (BKC)


CO: American Bank of Connecticut ST: Connecticut IN: FIN SU: ERN

MP-LG -- NY016 -- 9385 07/08/93 09:31 EDT
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Publication:PR Newswire
Date:Jul 8, 1993
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