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ATLANFED BANCORP DECLARES DIVIDEND

 BALTIMORE, Sept. 20 /PRNewswire/ -- Atlanfed Bancorp, Inc. (NASDAQ-NMS: AFED), Baltimore, announced that its board of directors declared a quarterly cash dividend of 9 cents per share, to be paid on Oct. 15, 1993, to stockholders of record as of the close of business on Sept. 30, 1993. This is the 24th consecutive quarterly dividend paid to stockholders.
 In June 1993, Atlanfed Bancorp issued a 5-for-4 stock split in the form of a 25 percent stock dividend, its fifth stock dividend since converting to a stock institution in 1986. Atlanfed has also increased cash dividends to stockholders every year since its first dividend payment in 1987.
 Atlanfed's primary subsidiary, Atlantic Federal Savings Bank, was founded in 1897 and currently operates 10 branches throughout the state of Maryland. Atlantic Home Mortgage Corporation, the bank's mortgage banking subsidiary, operates loan production offices in Towson, Pasadena, Elkton and Bel Air, Md. Mid-Atlantic Title Company and William I. Currie Associates are also subsidiaries of Atlanfed Bancorp.
 -0- 9/20/93
 /CONTACT: Michael P. Gavin, executive vice president, or Anthony R. Cole, vice president and controller, Atlanfed Bancorp, 410-938-8610/
 (AFED)


CO: Atlanfed Bancorp, Inc. ST: Maryland IN: FIN SU: DIV

DC-KD -- DC015 -- 3625 09/20/93 11:26 EDT
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Publication:PR Newswire
Date:Sep 20, 1993
Words:203
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