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FIDELITY SAVINGS BANK ANNOUNCES FIRST QUARTER EARNINGS AND QUARTERLY DIVIDEND

 FIDELITY SAVINGS BANK ANNOUNCES FIRST QUARTER EARNINGS
 AND QUARTERLY DIVIDEND
 PITTSBURGH, Jan. 22 /PRNewswire/ -- Fidelity Savings Bank (NASDAQ-NMS: FSVA) today announced results for the first fiscal quarter ended Dec. 31, 1991.
 Net income for the period increased to $315,000 or $.32 per share compared to net income of $264,000 or $.27 per share for the same period last year.
 Net interest income for the quarter rose to $1,629,000 vs. $1,338,000 for the first quarter a year ago. At. Dec. 31, 1991, Fidelity had total assets of $253,034,000 and stockholders' equity of $15,624,000 or $15.88 per share.
 The board of directors of Fidelity Savings Bank yesterday declared a quarterly dividend of $.06 per share on the bank's common stock. The dividend is payable Feb. 7, 1992, to stockholders of record Jan. 31, 1992. This represents the 14th consecutive cash dividend paid by Fidelity Savings.
 Fidelity Savings Bank is a Pennsylvania-chartered, FDIC-insured bank conducting business through nine offices in Allegheny and Butler counties.
 FIDELITY SAVINGS BANK
 Financial Data
 Unaudited (In thousands, except share data)
 Three Months Ended Dec. 31 1991 1990
 Interest income $4,667 $4,043
 Interest expense 3,038 2,705
 Net int. inc. before prov. for loan losses 1,629 1,338
 Provision for loan losses 105 111
 Net int. inc. after prov. for loan losses 1,524 1,227
 Gain on sale of investments -- 34
 Other income 91 80
 Other expenses 1,075 873
 Income before income taxes 540 468
 Provision for income taxes 225 204
 Net income 315 264
 Earnings per common share $.32 $.27
 Dividends per share $.06 $.06
 Book value per share $15.88 $14.96
 Shares outstanding 983,855 977,720
 -0- 1/22/92
 /CONTACT: Richard G. Spencer, chief financial officer of Fidelity Savings, 412-931-4300/
 (FSVA) CO: Fidelity Savings Bank ST: Pennsylvania IN: FIN SU: ERN


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Date:Jan 22, 1992
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