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RS FINANCIAL CORP. DECLARES INITIAL CASH DIVIDEND

 RS FINANCIAL CORP. DECLARES INITIAL CASH DIVIDEND
 RALEIGH, N.C., July 21 /PRNewswire/ -- RS Financial Corp.


(NASDAQ-NMS: RFBK), a holding company whose only subsidiary is Raleigh Federal Savings Bank, today announced that it will pay a $0.10 per share cash dividend to shareholders. The dividend, the first since Raleigh Federal converted to a stock institution in July 1987, will be paid on Aug. 18, 1992 to shareholders of record on Aug. 4, 1992.
 Commenting on the news, Stanley E. Wright, President and Chief Executive Officer of RS Financial, said, "The board of directors and management of RS Financial are pleased that the earnings and capital position of the Company allow us to pay this initial dividend. The continued payment of dividends in the future is subject to earnings, cash flows, capital needs and other factors. However, the board of directors, subject to review of these factors, anticipates declaring cash dividends on a regular quarterly basis."
 RS Financial Corp. is headquartered in Raleigh, North Carolina. At June 30, 1992, RS Financial had total consolidated assets of $751 million, total deposits of $655 million and total shareholders' equity of $66.6 million, or 8.87 percent of assets. Through its subsidiary, Raleigh Federal Savings Bank, RS Financial operates 33 offices in 20 cities and towns. RS Financial Corp. common stock is traded on the NASDAQ National Market System and is listed under the symbol RFBK.
 -0- 7/21/92
 /CONTACT: Stanley E. Wright, President and Chief Executive Officer, or Rex D. Williams, Executive Vice President and Chief Financial Officer, 919-833-7511/
 (RFBK) CO: RS Financial Corp. ST: North Carolina IN: FIN SU: DIV


DF -- CH009 -- 1484 07/21/92 16:05 EDT
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Publication:PR Newswire
Date:Jul 21, 1992
Words:280
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