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EQUIMARK SETTLES PREVIOUSLY ANNOUNCED FDIC CLAIM

 EQUIMARK SETTLES PREVIOUSLY ANNOUNCED FDIC CLAIM
 PITTSBURGH, Jan. 31 /PRNewswire/ -- Equimark Corporation (NYSE: EQK) today announced the settlement of a claim made about a year ago by the FDIC for the reimbursement of certain fees for the management of a Texas bank.
 "This settlement was previously reserved for," said Joseph J. Whiteside, Equimark's chief financial officer, "and therefore will have no adverse effect on Equimark's financial condition."
 The work done at National Bancshares Corporation of Texas during 1989 and 1990 was part of a strategy that Equimark has since abandoned. The company has stated that its efforts are concentrated on its core banking businesses principally in western Pennsylvania.
 Equimark is a Pittsburgh-based bank holding company with $3.2 billion in assets. Equimark's banking subsidiary is Equibank, which operates 53 offices in western Pennsylvania and nine offices in the Philadelphia area.
 /delval/
 -0- 1/31/92
 /CONTACT: Joyce Stump, assistant vice president of Equimark, 412-288-5932/
 (EQK) CO: Equimark Corporation ST: Pennsylvania IN: FIN SU:


DM -- PG008 -- 5661 01/31/92 13:34 EST
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Publication:PR Newswire
Date:Jan 31, 1992
Words:172
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