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GLENDALE BANCORPORATION ISSUES ANNOUNCEMENT

 VOORHEES, N.J., Dec. 24 /PRNewswire/ -- Glendale Bancorporation (NASDAQ: GNBC) previously reported consolidated earnings for the nine months ending Sept. 30, 1992, in the amount of $729,000 or $.39 per share.
 Due to economic conditions and a review of its loan portfolio, the corporation has, as previously reported, increased its provision to the allowance for loan losses in the amount of $1.5 million. This increase is as of Sept. 30, 1992. Accordingly, the corporation, on a consolidated basis, had a net loss for the nine months ending Sept. 30, 1992, of $503,000 or $.27 per share.
 /delval/
 -0- 12/24/92
 /CONTACT: Joseph J. Zullo of Glendale Bancorporation, 609-627-0300/
 (GNBC)


CO: Glendale Bancorporation ST: New Jersey IN: FIN SU:

MK-JS -- PH004 -- 9859 12/24/92 14:00 EST
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Publication:PR Newswire
Date:Dec 24, 1992
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