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PACIFIC FIRST BANK FUNDS OVER $37 MILLION IN 1991 FOR LOW-INCOME HOUSING

 PACIFIC FIRST BANK FUNDS OVER $37 MILLION
 IN 1991 FOR LOW-INCOME HOUSING
 SEATTLE, Jan. 27 /PRNewswire/ -- Pacific First Bank, a Federal Savings Bank, reported today that it loaned $2.3 million to finance low-to-moderate income housing in Washington, Oregon and California during fourth quarter of 1991 bringing totals for the year to over $37 million. This resulted in 1,538 units of affordable housing for local communities.
 These funds were made available through the bank's HOME (Housing Opportunities Made Easy) program. HOME was introduced by Pacific First in 1989 to respond to the lack of affordable housing and the plight of the homeless. The program encompasses loan programs, contributions and employee volunteerism.
 HOME is also the primary focus for Pacific First's contributions program. Organizations that received benefits from bank programs during fourth quarter included the Salem Outreach Shelter; YMCA of Vancouver in Oregon; the San Bernardino Neighborhood Housing Services, California, seed money for a new affiliate of Habitat for Humanity International in San Bernardino; and the City of Costa Mesa's Neighborhood Improvement Program in California. In Washington donations were made and partnerships formed with the Crisis Clinic which provides important referral information to King County's homeless; Tacoma/Pierce County chapter of Habitat for Humanity for supplies; and to a battered women's shelter in King County. Other community organizations were the beneficiaries of Pacific First Bank employee involvement in activities, including cleanup of the Woodland Park Zoo in Seattle and support of a fundraiser for public television.
 Acknowledgement of Pacific First's community reinvestment efforts was the "outstanding" CRA rating the bank received in 1991 from the Office of Thrift Supervision. It is the highest rating possible.
 Pacific First Bank operates retail and mortgage banking offices throughout Washington, Oregon and California. The largest savings institution headquartered in the Pacific Northwest, it is a wholly owned subsidiary of Royal Trustco Ltd. (Toronto: RYL) of Toronto.
 Royal Trust is one of the largest financial services companies in North America with more than $38 billion (Canadian) in assets and $111 billion (Canadian) in trust assets under administration. Royal Trust offers a broad range of client services including retail and private banking, personal trust and investment management through its network of 141 offices in Canada and 21 offices in major financial centers in the United Kingdom, Europe, the Caribbean and Asia.
 -0- 1/27/92
 /CONTACT: Michael K. Rogers of Pacific First Financial, 206-224-3420/
 (RYL.) CO: Pacific First Financial ST: Washington, Oregon, California IN: FIN SU:


LM-JH -- SE009 -- 3839 01/27/92 14:32 EST
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Publication:PR Newswire
Date:Jan 27, 1992
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