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OHSL FINANCIAL CORP. REPORTS EARNINGS UP IN SECOND QUARTER

 CINCINNATI, July 15 /PRNewswire/ -- OHSL Financial Corp. (NASDAQ: OHSL), the parent company of Oak Hills Savings and Loan Company, F.A., today released its second quarter earnings, showing net income for the quarter of $381,000, an improvement of $61,000, or 19.1 percent over the same period of 1992.
 OHSL President Kenneth L. Hanauer stated, "We are pleased with the progress we have made throughout the second quarter. Our net interest income of $1.4 million for the second quarter represents a 6.6 percent increase over the second quarter of 1992. We anticipate that our net interest income will continue to provide us with attractive earnings for the balance of 1993.
 "In addition, the present low level of loan delinquencies will, in the opinion of management, lessen the need for any substantial additions to our loan loss provision," stated Hanauer. The loan loss provision for the six months ended June 30, 1993, amounted to $38,000, as compared to $107,000 for the same period in 1992.
 At June 30, 1993, OHSL Financial Corp. had stockholders' equity of $23,877,000, or 14.61 percent of total assets. OHSL's subsidiary, Oak Hills Savings, operates four offices in the Cincinnati area with total deposits of $135,028,000.
 OHSL FINANCIAL CORP. FINANCIAL HIGHLIGHTS
 June 30, December 31,
 Selected Financial Condition Data: 1993 1992(A)
 (Dollars in thousands)
 Total assets $163,480 $157,613
 Loans receivable, net 126,571 124,009
 Mortgage-backed investments 15,579 15,557
 Investment securities 11,901 7,907
 Deposits 135,028 142,778
 Borrowed money 3,850 2,250
 Stockholders' equity 23,877 11,492
 Three Months Ended June 30,
 1993 1992(A)
 Selected Operations Data: (Dollars in thousands,
 except per share data)
 Total interest income $ 3,082 $ 3,367
 Total interest expense 1,685 2,057
 Net interest income 1,397 1,310
 Provision for loan losses 12 100
 Net interest income after the
 provision for loan losses 1,385 1,210
 Non-interest income 131 110
 Non-interest expense 956 792
 Net income before income tax
 provision 560 528
 Income tax provision 179 208
 Net income $ 381 $ 320
 Earnings per share data: $ 0.28 N/A
 (A) -- 1992 amounts do not include the effects of OHSL Financial Corp.'s initial public offering, which was completed on Feb. 5, 1993.
 -0- 7/15/93
 /CONTACT: Kenneth L. Hanauer, president of OHSL Financial Corp., 513-574-3322/
 (OHSL)


CO: OHSL Financial Corp. ST: Ohio IN: FIN SU: ERN

AR -- CL012 -- 1797 07/15/93 09:25 EDT
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Publication:PR Newswire
Date:Jul 15, 1993
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