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FIRST FEDERAL OF ALABAMA, F.S.B., SECURES LISTING ON THE AMERICAN STOCK EXCHANGE

 FIRST FEDERAL OF ALABAMA, F.S.B., SECURES LISTING
 ON THE AMERICAN STOCK EXCHANGE
 NEW YORK, Aug. 31 /PRNewswire/ -- First Federal Of Alabama, F.S.B., of Jasper, Alabama, today joined the growing number of financial institutions listed on the American Stock Exchange. Trading under ticker symbol "FAB", the company's common stock opened at 11:30 a.m. Eastern Daylight Time at 11-3/4 on 100 shares. The stock previously traded on NASDAQ's NMS. The company has chosen Goin & Company as its specialist unit.
 First Federal of Alabama is a federally chartered stock savings bank, which primarily is a single-family residential real estate lender offering a full range of consumer banking products.
 "We are very excited about listing on the American Stock Exchange. We believe the listing will provide our company with better visibility in the financial markets and improve the quality of trading," said Al H. Simmons, president and chief executive officer of First Federal. "During the past year, the company paid cash dividends of $.55 per share. We also increased the quarterly cash dividend to $.15 per share, or $.60 per share on an annual basis. The board remains totally committed to having stockholders share in the success we achieve," Simmons concluded.
 For the fiscal year ended June 30, 1992, First Federal of Alabama realized a net income of $1,363,156 up 22.7 percent from $1,110,750 fiscal year end 1991. At June 30, 1992, stockholders' equity was approximately $13.8 million, or 7.9 percent of total assets and book value was $15.74 per share.
 The American Stock Exchange is committed to becoming the recognized, premier marketplace for growth companies and derivative securities. By responding to listed company needs and initiating quality services, the Amex finds innovative ways to add value to the expanding community of companies and investors it serves.
 -0- 8/31/92
 /CONTACT: Paul Nobile manager of Equities Communications 212-306-2028, for First Federal of Alabama, F.S.B./
 (FAB) CO: First Federal of Alabama, F.S.B. ST: Alabama IN: FIN SU:


LD -- NY073 -- 5091 08/31/92 16:13 EDT
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Publication:PR Newswire
Date:Aug 31, 1992
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