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Community Savings Bankshares, Inc. Announces Completion of Block Acquisition.

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NORTH PALM BEACH, Fla.--(BUSINESS WIRE)--Oct. 13, 2000

Community Savings Bankshares, Inc. ("Bankshares" or the "Company")(Nasdaq:CMSV) announced today that it had acquired approximately 360,000 shares of common stock in an unsolicited privately negotiated transaction. The Company was contacted this week by a large shareholder who offered its entire position to the Company. The shares were acquired at market value and will be held as treasury shares.

The Company is also currently conducting an open market repurchase program. Approximately 170,000 shares remain to be repurchased under such program.

Community Savings Bankshares, Inc., a Delaware-chartered stock holding company, is the parent holding company for Community Savings, F. A. Chartered in 1955, the Association is a federal stock savings and loan association, the deposits of which are insured by the Federal Deposit Insurance Corporation. Headquartered in North Palm Beach, Florida, the Association serves customers in Palm Beach, Martin, St. Lucie and Indian River counties from 22 full-service offices. Please visit www.communitysavings.com for more information about the Company and the Association's loan and deposit products and services - including Online Banking.

Certain information in this press release may constitute forward-looking information that involves risks and uncertainties that could cause actual results to differ materially from those estimated. Persons are cautioned that such forward-looking statements are not guarantees of future performance and are subject to various factors which could cause actual results to differ materially from those estimated. These factors include, but are not limited to, changes in general economic and market conditions, legislative and regulatory changes, monetary and fiscal policies of the federal government, demand for loan and deposit products and the development of an interest rate environment that adversely affects the interest rate spread or other income from Bankshares' investments and operations.
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Publication:Business Wire
Geographic Code:1USA
Date:Oct 13, 2000
Words:297
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