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FIRST FIDELITY BOARD DECLARES DIVIDENDS ON PREFERRED STOCK; INCREASES REPURCHASE OF COMMON STOCK TO 3 PERCENT IN 1993

 LAWRENCEVILLE, N.J., Nov. 18 /PRNewswire/ -- The Board of Directors of First Fidelity Bancorporation (NYSE: FFB) today approved payment of the regular quarterly dividends on all classes of its preferred stock.
 The board also expanded the repurchase by the company of outstanding common stock from 2 percent to 3 percent in 1993. Previous authorization of repurchases by the company annually of up to 2 percent of the outstanding common stock remain in effect for 1994 and each year thereafter.
 This program is in addition to existing stock repurchase programs for the company's dividend reinvestment and stock option plans. Purchases would be made from time to time as market conditions make such purchases attractive for shareholders.
 First Fidelity will pay a dividend of $.5375 per share on the company's Series B Convertible Preferred Stock on Jan. 1, 1994, to shareholders of record at the close of business on Nov. 29, 1993.
 The company will pay a dividend of $1.5625 per share on First Fidelity Bancorporation Series D Adjustable Rate Cumulative Preferred Stock on Jan. 1, 1994, to shareholders of record at the close of business on Nov. 29, 1993.
 First Fidelity will pay a dividend of $.665 per depositary share on the company's Series F 10.64 percent Preferred Stock on Jan. 1, 1994, to shareholders of record at the close of business on Nov. 29, 1993.
 One of the 25 largest banking companies in the United States, First Fidelity operates more than 600 branches through its principal affiliates, Union Trust Company, of Stamford, Conn.; and the First Fidelity Banks of New Jersey, New York and Pennsylvania.
 /delval/
 -0- 11/18/93
 /CONTACT: Paul J. Levine (media), 201-565-2949, or Jonathan Stern (analysts), 201-565-3397, of First Fidelity Bancorporation/
 (FFB)


CO: First Fidelity Bancorporation ST: New Jersey IN: FIN SU: DIV

MJ -- PH007 -- 5981 11/18/93 11:25 EST
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Publication:PR Newswire
Date:Nov 18, 1993
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