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EXECUFIRST BANCORP, INC. ADDS TO ITS LOAN LOSS RESERVE

 PHILADELPHIA, Dec. 18 /PRNewswire/ -- ExecuFirst Bancorp, Inc. (NASDAQ: FXBC), parent company of First Executive Bank, today announced that it will make an addition to its loan loss reserve in the amount of approximately $1.3 million in the fourth quarter of 1992.
 The addition was recommended by management following its most recent evaluation of its loan portfolio subsequent to an examination by federal and state regulators. Management's recommendation was received and favorably acted upon by the bank's board of directors. The bank pointed out that a number of its borrowers, primarily to whom facilities were extended in 1988 and 1989, have remained adversely affected by the depth and duration of the downturn in the economy. According to officers of the bank this has continued to be the case, principally in the real estate sector.
 As a result, the company said it expects to report a loss for 1992. After the addition to its reserve, and after certain write-offs against its reserve amounting to approximately $700,000, the company's regulatory capital ratios will continue to substantially exceed all minimum regulatory requirements. Its total capital to risk-weighted assets will be 11.8 percent and its tier 1 capital to risk-weighted assets will be 10.7 percent, compared to regulatory minimums of 8 percent and 4 percent, respectively.
 At Nov. 30, net loans totaled $67.7 million, deposits totaled $88.8 million and assets were $98.7 million.
 Zvi H. Muscal, ExecuFirst chairman and First Executive Bank president and chief executive officer, said, "Our continued growth reflects the plans and strategies that we developed in 1990 to concentrate primarily on the professional market and small and emerging businesses. The medical professional sector has become a major focus of our strategy and the bank is very active with this segment of the community. In addition, the bank's efforts to serve the legal community have been increasing, adding new lenders, new products and services to accommodate this market."
 "As well, we enjoy growth in core deposits, loans and assets," Muscal said. "Our current loan portfolio is based on the new business strategy which has evolved from early days. Today we have a broader base of loans made principally to medical groups, individual doctors, and dentists, lawyers and legal practices, as well as other small businesses and entrepreneurs.
 "We continue to have close ties and a strong relationship to our community through support for civic and professional organizations as well as neighborhood associations, which have given us an excellent reputation in the city and our marketplace.
 "In particular our commitment to the medical professional and the health care industry has benefited from the support of our medical advisory board. In this same vein, it is an honor for us to have opened our first branch in Graduate Hospital where we serve many physicians, nurses, and employees along with the surrounding neighborhood. Our plans for the future include opening additional branches on hospital campuses in the Philadelphia area.
 "With many of our problem loans behind us and with an eye to the future we will be able to continue our solid growth serving our target market, adding new branches and innovative products tailored to the needs of our market," Muscal said. "We also will be able to seek other expansion opportunities, where such opportunities would make business sense."
 First Executive Bank opened for business in November of 1988. It is a state-chartered bank and a member of the Federal Reserve System. Its deposits are insured by the Federal Deposit Insurance Corporation (FDIC).
 /delval/
 -0- 12/18/92
 /CONTACT: Zvi H. Muscal, chairman of ExecuFirst Bancorp, 215-564-3300/
 (FXBC)


CO: ExecuFirst Bancorp, Inc.; First Executive Bank ST: Pennsylvania IN: FIN SU:

MJ-CC -- PH029 -- 8381 12/18/92 16:28 EST
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Date:Dec 18, 1992
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