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OLYMPUS CAPITAL ANNOUNCES FOURTH QUARTER AND TWELVE MONTH FINANCIAL RESULTS

 OLYMPUS CAPITAL ANNOUNCES FOURTH QUARTER AND
 TWELVE MONTH FINANCIAL RESULTS
 SALT LAKE CITY, Feb. 5 /PRNewswire/ -- Olympus Capital Corp. (NASDAQ/NMS: OLCC), parent company of Olympus Bank, a Federal Savings Bank, announced its unaudited consolidated financial results for the quarter and year ended Dec. 31, 1991.
 The company reported fourth quarter 1991 net income of $168,198 or 7 cents per share compared to net income of $116,265 or 5 cents per share for the fourth quarter of 1990. Provisions for losses were $499,331 for the fourth quarter of 1991 compared to $729,200 for the fourth quarter of 1990. For the year ended 1991 the company reported net income of $344,899 or 14 cents per share compared to $858,490 or 34 cents per share for the year ended 1990. Provisions for losses for the year ended 1991 were $3,437,299 compared to $3,320,105 for the year ended 1990. Total assets at Dec. 31, 1991 were $412,392,788 compared to $450,465,665 at Dec. 31, 1990.
 At Dec. 31, 1991, Olympus Bank's core capital was 5.2 percent of tangible assets and risk-based capital was 8.9 percent of risk weighted assets. Olympus continues to comply with minimum regulatory capital requirements.
 Olympus Bank operates seven branches in Utah and Montana. Deposits are insured up to $100,000 by the FDIC.
 -0- 2/5/92
 /CONTACT: R. Kelly Harris of Olympus Capital, 801-363-8111/
 (OLCC) CO: Olympus Capital Corp.; Olympus Bank ST: Utah IN: FIN SU: ERN


BB -- DV005 -- 7239 02/05/92 13:37 EST
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Publication:PR Newswire
Date:Feb 5, 1992
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