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UNITED FINANCIAL BANKING COMPANIES REPORTS FOURTH QUARTER, YEAR-END RESULTS

 UNITED FINANCIAL BANKING COMPANIES REPORTS FOURTH QUARTER,
 YEAR-END RESULTS
 VIENNA, Va., April 2 /PRNewswire/ -- United Financial Banking Companies, Inc. (UFBC), has reported results for the fourth quarter and year ended Dec. 31, 1991. A loss of $900,880 was reported for the quarter, compared to a loss of $2,053,238 for fourth quarter 1990. The per share loss for the quarter was 89 cents compared to $2.03 for the same quarter last year. The continuing slump of the area's real estate market can be seen in the write-down of approximately $1.8 million in real estate related assets during the year.
 For fiscal year 1991, the company reported a $982,317 loss, as compared to a $2,078,378 loss for 1990. Per share loss was 98 cents for 1991 vs. $2.06 in 1990. The company's capital level remains strong at $10,135,690, or 13.8 percent of total assets.
 UNITED FINANCIAL BANKING COMPANIES, INC., AND SUBSIDIARIES
 Selected Accounts
 Dec. 31, 1991 Dec. 31, 1990
 Total Assets $73,271,592 $65,387,147
 Total Liabilities 63,135,902 54,269,140
 Total Stockholders' Equity 10,135,690 11,118,007
 Three Months Ended Years Ended
 Dec. 31, Dec. 31,
 1991 1990 1991 1990
 Total Interest
 Income $ 993,979 $ 1,075,977 $3,899,942 $ 4,902,774
 Net Interest
 Income 507,836 686,483 2,125,516 2,513,477
 Provision for
 Loan Losses 874,000 2,588,500 964,000 2,728,500
 Total Other
 Income 397,477 551,176 1,768,083 1,992,016
 Total Other
 Expenses 1,528,328 1,777,434 4,545,676 4,922,708
 Net Income $(900,800) $(2,053,238) $(982,317) $(2,078,378)
 Earnings Per
 Share $(0.89) $(2.03) $(0.98) $(2.06)
 Weighted Number
 of Shares
 Outstanding 1,007,201 1,007,201 1,007,201 1,007,531
 -0- 4/2/92
 /CONTACT: Ralph E. (Pete) Jewell of United Financial Banking Companies, 703-734-0070)/ CO: United Financial Banking Companies, Inc. ST: Virginia IN: FIN SU: ERN


TW-MK -- DC005 -- 4261 04/02/92 10:08 EST
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Publication:PR Newswire
Date:Apr 2, 1992
Words:352
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