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BOULEVARD BANCORP EVALUATING SALE/MERGER ALTERNATIVES

 CHICAGO, Aug. 16 /PRNewswire/ -- Boulevard Bancorp, Inc. (NASDAQ-NMS: BLVD) today announced that Goldman, Sachs & Co. is assisting it in exploring merger or sale possibilities with other interested financial institutions. Charles E. Schroeder, chairman of the board of Boulevard, stated that "We expect to be working with Goldman, Sachs throughout the remainder of the summer in evaluating various alternatives. Consequently, we do not intend to comment further in the process unless and until a definitive understanding is reached with another financial institution."
 Boulevard Bancorp, Inc. is the 11th largest bank holding company in the Chicago metropolitan area with assets of $1.5 billion. Its principal subsidiaries include Boulevard Bank National Association in Chicago, First National Bank of Des Plaines, Citizens National Bank of Downers Grove, National Security Bank of Chicago and Boulevard Technical Services. The company's common stock is traded on NASDAQ's National System under the symbol "BLVD."
 -0- 8/16/93
 /CONTACT: Karen E. Spillers of Boulevard Bancorp, 312-993-8603/
 (BLVD)


CO: Boulevard Bancorp, Inc. ST: Illinois IN: FIN SU:

PS -- NY044 -- 2978 08/16/93 10:18 EDT
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Publication:PR Newswire
Date:Aug 16, 1993
Words:178
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