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EXECUFIRST BANCORP, PARENT OF FIRST EXECUTIVE BANK, REPORTS FIRST QUARTER PROFIT

 EXECUFIRST BANCORP, PARENT OF FIRST EXECUTIVE BANK,
 REPORTS FIRST QUARTER PROFIT
 PHILADELPHIA, April 13 /PRNewswire/ -- ExecuFirst Bancorp Inc. (NASDAQ: FXBC), parent company of First Executive Bank, today reported first quarter net income of $81,165 or 7 cents per share, compared to net income of $20,342 or 2 cents per share, in the first quarter of 1991.
 Zvi H. Muscal, ExecuFirst chairman and First Executive Bank president and chief executive officer, attributed the first quarter gain to higher levels of non-interest income. This was partially offset by increased expenses it has incurred to facilitate growth and to further strengthen its reserves for loan losses.
 The company reported that assets at March 31, 1992, totaled $91.4 million, up 37 percent from the end of 1991's first quarter. Total deposits grew by 43 percent from year-ago levels, climbing to $81.8 million, and net loans rose by 19 percent to $60.8 million.
 "Deposit and loan growth continues to reflect the bank's success in establishing banking relationships with small businesses, medical and legal professionals and young business executives," Muscal said.
 During 1992's first quarter, the company provided $30,452 for possible loan losses, compared to $9,458 in 1991.
 "We are continuing to systematically and conservatively provide for future potential loan losses, given the slow pace of the anticipated economic recovery," Muscal said.
 First Executive Bank opened for business in November of 1988. Located at 1513 Walnut St. in Center City Philadelphia, it is a state- chartered bank and a member of the Federal Reserve System. Its deposits are insured by the Federal Deposit Insurance Corporation.
 EXECUFIRST BANCORP INC.
 AND ITS ONLY SUBSIDIARY, FIRST EXECUTIVE BANK
 (Unaudited)
 First quarter 1992 1991
 Interest income $1,784,254 $1,439,159
 Interest expense, deposits 1,141,077 863,106
 Provision for loan losses 30,452 9,458
 Net interest income after
 provision for loan loss 612,725 566,595
 Other income 24,192 10,436
 Gain on sale of securities 96,989 ---
 Income before other expenses 733,906 577,031
 Other expenses 652,741 556,689
 Net income 81,165 20,342
 Net income per common share $.07 $.02
 Weighted average number of shares 1,226,057 1,226,057
 At March 31 1992 1991
 Total assets $91,378,959 $66,703,843
 Net loans 60,791,322 51,109,609
 Total deposits 81,797,553 57,226,469
 /delval/
 -0- 4/13/92
 /CONTACT: Zvi H. Muscal, chairman of ExecuFirst Bancorp, 215-564-3300/
 (FXBC) CO: ExecuFirst Bancorp, Inc.; First Executive Bank ST: Pennsylvania IN: FIN SU: ERN


KA-CC -- PH020 -- 7780 04/13/92 12:50 EDT
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Date:Apr 13, 1992
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