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PIONEER BANCORP REPORTS 1992 OPERATING RESULTS

 FULLERTON, Calif., April 2 /PRNewswire/ -- Pioneer Bancorp, the holding company for Pioneer Bank, headquartered in Fullerton, reported financial results for 1992.
 At Dec. 31, 1992, the company had total assets of $199.1 million, total deposits of $184.9 million, and total equity capital of $13.1 million. This equity capital provided the company with a Tier I Capital ratio of 7.7 percent, which is significantly higher than the minimum 4.0 percent required by bank regulations.
 The company generated a $1.9 million loss for 1992. The primary cause for this loss was $4.6 million in provisions for potential loan and other real estate owned losses. These provisions were made in recognition of the struggling Southern California economy and real estate markets.
 -0- 4/2/93
 /CONTACT: Thomas R. Timmons, president and CEO of Pioneer Bancorp, 714-773-0600/


CO: Pioneer Bancorp ST: California IN: FIN SU: ERN

MS-BP -- LA019 -- 2525 04/02/93 12:46 EST
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Publication:PR Newswire
Date:Apr 2, 1993
Words:158
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