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LOAN AMERICA'S FIRST QUARTER NET EARNINGS RISE TO $1.43 MILLION

 MIAMI LAKES, Fla., April 27 /PRNewswire/ -- Loan America Financial Corporation (NASDAQ-NMS: LAFCB), a publicly owned residential mortgage banking firm, reported net earnings of $1,430,795, or $.45 per share, on total revenues of $8,559,771 for the three months ended March 31, 1993, compared to net earnings of $1,355,646, or $.46 per share, on total revenues of $10,638,771 for the same quarter of 1992.
 All per share earnings have been adjusted for the 10 percent common stock dividend paid on May 26, 1992, and the 15 percent common stock dividend paid on Dec. 17, 1992.
 John S. Kuczwanski, president of Loan America, stated, "We are very pleased to show increased earnings while the housing finance industry took a breather following its record production year. Furthermore, we were able to recapture loss reserves, reflecting better than expected loan quality. Our first quarter loan production was lower than 1992's exceptional first quarter following a temporary increase in interest rates late in the year. Rates declined again during the most recent quarter, and our early second period production has been very strong.
 "Our servicing sales increased during the quarter to generate liquidity necessary to support a new $329 million syndicated warehouse credit line. As of March 31, 1993, Loan America's mortgage servicing portfolio totaled $3.2 billion, and our delinquencies remained low at 1.19 percent."
 LOAN AMERICA FINANCIAL CORPORATION
 FOR THE QUARTER ENDED MARCH 31, 1993
 Three Months Ended
 March 31,
 1993 1992
 Revenues:
 Loan Production and Sales $ 2,592,373 $ 4,635,857
 Loan Administration Fees 2,385,428 2,645,945
 Interest Earned 2,179,319 5,280,154
 Interest Charges (1,401,643) (3,147,452)
 Gain on Sale of Servicing 2,771,625 1,208,335
 Other 32,669 15,932
 Total Revenues 8,559,771 10,638,771
 Total Expenses 6,462,752 8,465,217
 Income Before Income Taxes 2,097,019 2,173,554
 Provision For Income Taxes 666,224 817,908
 Net Income $ 1,430,795 $ 1,355,646
 Earnings Per Common Share:
 Primary $ .45 $ .46
 Fully Diluted $ .43 $ .43
 Weighted Average Shares of
 Common and Common Equivalent
 Shares Outstanding:
 Primary 3,027,162 2,837,852
 Fully Diluted 3,267,546 3,084,447
 Total Loan Production $387,436,000 $814,432,000
 At March 31,
 1993 1992
 Mortgage Servicing
 Portfolio (A) $3,167,000,000 $3,409,000,000
 Stockholders' Equity $ 27,210,125 $ 21,588,624
 (A) -- Includes loans under subservicing agreements pending transfer of $197 million and $106 million at March 31, 1993 and 1992, respectively.
 -0- 4/27/93
 /CONTACT: John S. Kuczwanski, president of Loan America Financial Corporation, 305-557-9282; or John K. Schulte of Schulte, Ross & Aguilar, 305-856-1442, for Loan America Financial Corp./
 (LAFCB)


CO: Loan America Financial Corporation ST: Florida IN: FIN SU: ERN

AW-JB -- FL008 -- 1380 04/27/93 12:29 EDT
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Date:Apr 27, 1993
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