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FIRST FEDERAL SAVINGS BANK OF COLORADO COMPLETES STOCK OFFERING

 FIRST FEDERAL SAVINGS BANK OF COLORADO COMPLETES STOCK OFFERING
 LAKEWOOD, Colo., June 30 /PRNewswire/ -- First Federal Savings Bank of Colorado has completed a very successful stock offering. The Bank offered 1,388,600 shares to the public at $10 per share, representing a 33 percent minority interest. Orders were received for 2,938,542 shares; therefore the Bank will reallocate the shares to the purchasers.
 A mutual holding company, First Savings Capital, M.H.C. will own the balance of the shares, representing a 67 percent interest in the Bank. The stock is expected to pay an initial dividend of 65 cents per share per annum.
 First Federal realized net proceeds of $13 million from the offering, which will be used to support traditional lending activities.
 Community Capital, a division of Ryan, Beck and Co., served as First Federal's investment banker.
 The stock will be listed on the NASDAQ over-the-counter market under the symbol "FFBA." Trading in the stock is expected to begin in mid-July. Ryan, Beck and Co. and other firms will make a market in the stock.
 First Federal has 20 offices in Colorado. On March 31, 1992, total assets were $967 million, deposits were $845 million, and capital was $64 million. The Bank is headed by Malcolm E. Collier, Jr., chairman and chief executive officer.
 -0- 6/30/92
 /CONTACT: Mike Jordan of First Federal Savings, 303-232-2121/ CO: First Federal Bank ST: Colorado IN: FIN SU: OFR


MC-BB -- DV003 -- 5179 06/30/92 12:41 EDT
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Publication:PR Newswire
Date:Jun 30, 1992
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