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FIDELITY SAVINGS BANK ANNOUNCES SECOND QUARTER EARNINGS, CASH DIVIDEND AND STOCK DIVIDEND

 PITTSBURGH, April 21 /PRNewswire/ -- Fidelity Savings Bank (NASDAQ-NMS: FSVA) yesterday announced results for the second fiscal quarter ended March 31, 1993.
 Net income for the period increased to $501,000 or $.45 per share compared to net income of $247,000 or $.23 per share for the same period last year. Fidelity attributed the increased earnings to improved net interest income and gains from the sale of investment securities.
 Net interest income for the quarter rose to $2,194,000 vs. $1,864,000 for the second quarter a year ago. At March 31, 1993, Fidelity had total assets of $255,680,000 and stockholders' equity of $17,678,000 or $16.03 per share.
 For the first six months of fiscal 1993, net income was $1,209,000 or $1.10 per share compared to net income of $562,000 or $0.51 per share in the same period last year. Net interest income was $4,267,000 vs. $3,492,000 for the six-month period a year ago.
 The board of directors of Fidelity Savings Bank yesterday declared a quarterly cash dividend of $.06 per share on the bank's common stock. The dividend is payable May 10, 1993 to stockholders of record on May 3, 1993. This represents the 19th consecutive cash dividend paid by Fidelity Savings Bank. In addition, the board declared a stock dividend of 10 percent on the common stock of the bank payable in whole shares of common stock with fractional shares to be paid in cash. The stock dividend is payable May 10, 1993, to stockholders of record on May 3, 1993.
 Fidelity Savings Bank is a Pennsylvania-chartered, FDIC-insured state savings bank conducting business through nine offices in Allegheny and Butler counties.
 FIDELITY SAVINGS BANK
 Financial data - Unaudited
 (In thousands, except per share data)
 Three Months Ended March 31 1993 1992
 Interest income $4,630 $5,151
 Interest expense 2,436 3,287
 Net interest income before
 provision for loan losses 2,194 1,864
 Provision for loan losses 150 105
 Net interest income after
 provision for loan losses 2,044 1,759
 Gain (Loss) on sale of investments 144 (18)
 Gain (Loss) on sale of loans 9 12
 Other income 135 122
 Other expenses 1,478 1,454
 Income before income taxes 854 421
 Provision for income taxes 353 174
 Net income 501 247
 Earnings per common share $.45 $.23
 Dividends per share $.06 $.06
 Book value per share $16.03 $14.51
 Shares outstanding 1,103,105 1,094,704
 Six Months Ended March 31 1993 1992
 Interest income $9,330 $9,817
 Interest expense 5,063 6,325
 Net interest income before
 provision for loan losses 4,267 3,492
 Provision for loan losses 255 210
 Net interest income after
 provision for loan losses 4,012 3,282
 Gain (Loss) on sale of investments 603 (18)
 Gain (Loss) on sale of loans 9 12
 Other income 261 213
 Other expenses 2,827 2,528
 Income before income taxes 2,058 961
 Provision for income taxes 849 399
 Net income 1,209 562
 Earnings per common share $1.10 $.51(A)
 Dividends per share $.12 $.12
 Book value per share $16.03 $14.51(A)
 Shares outstanding 1,103,105 1,094,704(A)
 (A) Restated to reflect the 10 percent common stock dividend paid on May 8, 1992.
 -0- 4/21/93
 /CONTACT: Richard G. Spencer, chief financial officer of Fidelity Saving Bank, 412-931-4300/
 (FSVA)


CO: Fidelity Savings Bank ST: Pennsylvania IN: FIN SU: ERN DIV

KC-CD -- PG026 -- 8983 04/21/93 16:51 EDT
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Date:Apr 21, 1993
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