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AMFED FINANCIAL DECLARES 10 PERCENT STOCK DIVIDEND

 RENO, Nev., July 28 /PRNewswire/ -- AMFED Financial Inc. (NASDAQ: AMFF), the holding company for American Federal Savings Bank, today announced its board of directors declared a 10 percent stock dividend payable Sept. 10, 1993, to shareholders of record Aug. 11, 1993. AMFED paid its initial cash dividend of 5 cents per share on Friday, July 23, 1993.
 "We are issuing this dividend to enhance marketability and to improve trading liquidity in AMFED's stock," said E.R. Houston, chairman and chief executive officer.
 At June 30, 1993, AMFED had 4,184,161 shares issued and outstanding. Following the stock dividend payment, the company will have approximately 4,602,500 shares issued and outstanding. Fractional shares resulting from the stock dividend will be paid in cash.
 Last week AMFED reported second quarter net income increased 18 percent to $2.0 million compared to $1.7 million in the second quarter a year ago. AMFED also reported that loan originations increased 50 percent in the second quarter of 1993 compared to the like quarter of 1992. Earnings per share on a fully diluted basis were 45 cents in the second quarter this year.
 AMFED Financial is the holding company for American Federal Savings Bank, which operates 26 full-service offices throughout Nevada. Twenty of the offices are in northern Nevada, which includes the Reno/Sparks/Lake Tahoe region, and six are in southern Nevada (Las Vegas). AMFED closed its initial public offering of common stock on Nov. 20, 1992. Yesterday, the company's stock closed the trading day at $22.75 per share.
 -0- 7/28/93
 /CONTACT: E.R. Houston, chairman and CEO, of AMFED Financial, 702-785-8500/
 (AMFF)


CO: AMFED Financial ST: Nevada IN: FIN SU: DIV

SB -- SE001 -- 6565 07/28/93 07:50 EDT
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Publication:PR Newswire
Date:Jul 28, 1993
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