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BSD BANCORP REPORTS 1992 RESULTS

 SAN DIEGO, Feb. 19 /PRNewswire/ -- BSD Bancorp Inc. (AMEX: BSD) today announced a loss of $4,356,000, or $1.18 per share, for the fourth quarter of 1992. It compares to a loss of $4,367,000, or $1.19 per share, for the fourth quarter of 1991.
 For the year ended Dec. 31, 1992, BSD Bancorp reported a loss of $8,673,000, or $2.36 per share, compared to a loss of $3,758,000, or $1.02 per share, for 1991.
 The fourth quarter loss was principally because of an addition of $4.5 million to the company's loan loss reserve. The full-year loss includes a total loan loss reserve of $9.4 million as well as a one- time charge of $1.5 million for costs associated with restructuring the company's bank subsidiaries.
 BSD Bancorp noted that the bank's Tier One Leverage ratio, as of Dec. 31, 1992, was 3.9 percent on assets of $403 million and that the bank has filed a capital plan with the FDIC and the State Banking Department.
 According to James S. Brown, chairman and CEO of the holding company, BSD Bancorp will pursue all available means to raise the necessary capital to restore strength to the company, including the sale or merger of the bank with another institution. Brown added that discussions are underway with potential sources of capital. Commenting on the company's performance, Brown said: "The bank continues to reflect the weak real estate economy in Southern California."
 Looking ahead, Brown said the company will benefit from consolidated operations. On Dec. 30, 1992, BSD Bancorp's three banking subsidiaries -- American Valley Bank, Coast Bank and The Bank of San Diego -- were merged into The Bank of San Diego, creating the potential for greater operating efficiencies and reduced overhead expense.
 BSD Bancorp serves the banking and trust markets predominately in Southern California.
 -0- 2/19/93
 /CONTACT: James S. Brown, chairman and CEO, 619-237-5364, or Marilyn Creson, CFO, 619-237-5367, both of BSD Bancorp/
 (BSD)


CO: BSD Bancorp Inc. ST: California IN: FIN SU: ERN

LS-JB -- SD004 -- 8507 02/19/93 15:59 EST
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Date:Feb 19, 1993
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