Circle Financial Corp. reports second quarter fiscal 1996 results.

CINCINNATI--(BUSINESS WIRE)--Jan. 26, 1996--Circle Financial Corp. (NASDAQ/CRCL), parent company of People's Savings Association, today reported net income of $268,653, or 37 cents per share, for the quarter ended Dec. 31, 1995 and $498,026 or 69 cents per share, for the six month period ended Dec. 31, 1995, compared to net income of $334,730, or 44 cents per share, for the quarter ended Dec. 31, 1994 and $360,093, or 46 cents per share for the six month period ended Dec. 31, 1994.

Net interest income increased $46,660 or 3.3 percent to $1,447,015 for the three month period ended Dec. 31, 1995 as compared to the same period ended Dec. 31, 1994 and $82,813 or 3.0 percent to $2,866,320 for the six month period ended Dec. 31, 1995 as compared to the same period ended Dec. 31, 1994.

The results for the quarter ended Dec. 31, 1995 included a gain on the sale of investment property of $241,679 before tax effect and an increase in the provision for income taxes of $33,869 resulting from a difference in the tax and book basis of the property sold. Second quarter fiscal 1996 results also included one time charges relating to the early retirement of a senior vice president and the closing of a branch office of approximately $96,600 before tax effect.

The results for the quarter ended Dec. 31, 1994 included the partial reversal of a charge for the closing of its Forest Fair Mall branch of $111,500 before tax effect.

(Financial information attached) -0-

                        CIRCLE FINANCIAL CORP.
                          11100 Reading Road
                        Cincinnati, Ohio 45241

         CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)

                                   THREE MONTHS        SIX MONTHS
                                      ENDED               ENDED
                                   December 31,        December 31,
                                1995        1994    1995         1994
                                _________________   _________________
(dollars in thousands, except
 per share amounts)
Interest income:
 Loans and mortgage-backed
  securities                  $  3,363    $  2,405    6,452     4,597
 Investments and deposits          423         513      878     1,132
                              ________    ________  _______    ______
  Total interest income          3,786       2,918    7,330     5,729
                              ________    ________  _______    ______
Interest expense                 2,339       1,518    4,464     2,946
                              ________    ________  _______    ______
Net interest income              1,447       1,400    2,866     2,783
                              ________    ________  _______    ______
Non-interest income                358         107      473       227
                              ________    ________  _______    ______
Non-interest expense:
 Salaries and employee
  benefits                         604         497    1,055       968
 Net occupancy expense             279         214      542       406
 Federal insurance premiums         95          85      185       169
 Branch closing                   -           (112)    -          350
 Amortization of intangible
  assets                            88        -         132      -
 Other                             280         316      619       571
                              ________    ________  _______    ______

  Total non-interest expense     1,346       1,000    2,533     2,464
                              ________    ________  _______    ______
Income before income tax
 expense                           459         507      806       546
Provision for income tax           190         172      308       186
                              ________    ________  _______    ______
Net income                    $    269         335      498       360
                              ________    ________  _______    ______
                              ________    ________  _______    ______

Earnings per share               $0.37       $0.44    $0.69     $0.46
                              ________    ________  _______    ______
                              ________    ________  _______    ______

Average outstanding
 common and common
 equivalent shares             725,275     763,099  725,385   780,015
                              ________    ________  _______    ______
                              ________    ________  _______    ______

                    BALANCE SHEET HIGHLIGHTS

                                                December 31,  June 30,
                                                    1995       1995
                                               ______________________
(dollars in thousands)
Total assets                                      $ 222,438   189,850
Loans (net)                                         137,637   116,200
Mortgage-backed securities                           46,908    33,231
Other investments and interest bearing deposits      25,206    33,248
Deposits                                            194,240   151,661
FHLB advances                                         2,500    13,500
Stockholders' equity                                 24,221    23,821

CONTACT: Circle Financial Corp., Cincinnati

Donald H. Rolf Jr., 513/563-1245