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OLYMPUS CAPITAL CORP. ANNOUNCES YEAR-END RESULTS

 SALT LAKE CITY, Feb. 19 /PRNewswire/ -- Olympus Capital Corp. (NASDAQ-NMS: OLCC), parent company of Olympus Bank, a Federal Savings Bank, released its unaudited consolidated financial results on an after tax basis for the year ended Dec. 31, 1992.
 The company reported net income of $2,835,000, or $1.06 primary earnings per share and $1.04 fully diluted earnings per share, for the year ended Dec. 31, 1992, compared to net income of $345,000 or $0.14 primary earnings per share, for the year ended Dec. 31, 1991. The effect of stock options on fully diluted earnings per share for 1991 was not material. Provisions for possible investment, loan and lease losses (including unrealized losses on investments held for sale) totaled $2,600,000 for 1992, as compared to $1,922,000 for 1991. Other provisions for losses (including provisions on real estate acquired in settlement of loans) totaled $1,420,000 for 1992 and $1,530,000 for 1991.
 Total assets at Dec. 31, 1992, were $380,480,000 compared to $403,693,000 at Dec. 31, 1991. Non performing assets as of Dec. 31, 1992, were $10,369,000 compared to $14,062,000 as of Dec. 31, 1991.
 Net income and total assets reflect the reporting of all mortgage-backed securities and derivatives as assets held for sale.
 The company had previously announced its pre-tax unaudited consolidated financial results.
 Olympus Bank operates six branches in Utah and one in Montana. Deposits are insured to $100,000 by the FDIC.
 -0- 2/19/93
 /CONTACT: K. John Jones of Olympus Capital, 801-325-1000/
 (OLCC)


CO: Olympus Capital Corp. ST: California IN: FIN SU: ERN

EH-KJ -- LA014 -- 8358 02/19/93 11:26 EST
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Publication:PR Newswire
Date:Feb 19, 1993
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