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DEERBANK CORP. RECORDS 39.9 PERCENT EARNINGS INCREASE FOR THE FISCAL YEAR ENDED SEPT. 30, 1993

 DEERFIELD, Ill., Nov. 18 /PRNewswire/ -- Deerbank Corp. (NASDAQ: DEER), the holding company of Deerfield Federal Savings and Laon Association, recorded net income of $8,009,000 for their fiscal year ended Sept. 30, 1993, an increase of 39.9 percent over the last fiscal year's earnings of $5,723,000.
 Earnings per average common share were $3.00 for the fiscal year ended Sept. 30, 1993, and $2.31 per share for the fiscal year ended Sept. 30, 1992. Earnings per share for the fiscal year ended Sept. 30, 1992, have been reclassified to reflect the issuance of a two-for-one stock split which was distributed to Deerbank stockholders on Sept. 10, 1993.
 Earnings for the fourth quarter ended Sept. 30, 1993, were $1,950,000, an increase of 29.0 percent over the $1,512,000 recorded for the similar period last year.
 Earnings per average common share were $0.72 for the fourth quarter ended Sept. 30, 1993, and $0.57 per share for the similar period last year. Earnings per share for the fiscal year ended Sept. 30, 1992, have been reclassified to reflect the issuance of a two-for-one stock split which was distributed to Deerbank stockholders on Sept. 10, 1993.
 DEERBANK CORP.
 Fourth quarter ended Sept. 30, 1993 1992
 Net Income $ 1,950,000 $ 1,512,000
 Average share outstanding
 (primary) (note A) 2,697,000 2,639,000
 Average share outstanding
 (full dilution) (note A) 2,699,000 2,640,000
 Earnings per share
 (primary) (note A) $0.72 $0.57
 Earnings per share
 (full dilution) (note A) $0.72 $0.57
 Dividends paid or
 declared per share (note A) $0.15 $0.10
 Fiscal year ended Sept. 30, 1993 1992
 Net Income $ 8,009,000 $ 5,723,000
 Average share outstanding
 (primary) (note A) 2,674,000 2,481,000
 Average share outstanding
 (full dilution) (note A) 2,689,000 2,496,000
 Earnings per share
 (primary) (note A) $3.00 $2.31
 Earnings per share
 (full dilution) (note A) $2.98 $2.29
 Dividends paid or
 declared per share (note A) $0.675 $0.55
 (A) Average shares outstanding, earnings per share and dividends paid or declared per share have been adjusted, for each of the periods shown, to reflect the effect of a two-for-one stock split which was distributed on Sept. 10, 1993.
 -0- 11/18/93
 /CONTACT: David Mullins or Wayne V. Ecklund of Deerbank Corp., 708-945-2550/
 (DEER)


CO: Deerbank Corp. ST: Illinois IN: FIN SU: ERN

MP -- NY087 -- 6132 11/18/93 14:50 EST
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Publication:PR Newswire
Date:Nov 18, 1993
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