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UNITED FINANCIAL BANKING COMPANIES REPORTS SECOND QUARTER RESULTS

UNITED FINANCIAL BANKING COMPANIES REPORTS SECOND QUARTER RESULTS
 VIENNA, Va., Aug. 4 /PRNewswire/ -- United Financial Banking Companies, Inc. (NASDAQ: UFBC) announced a second quarter loss of $441,649, compared to earnings of $65,888 last year for the second quarter. The company's six month loss is $799,521 compared to a $38,321 loss last year. Per share earnings for the six and three month periods this year were (79 cents) and (44 cents), compared to (4 cents) and 6 cents in 1991.
 The continued losses are due primarily to write-downs in real estate related assets and a weakened net interest margin.
 UNITED FINANCIAL BANKING COMPANIES, INC., AND SUBSIDIARIES
 SELECTED ACCOUNTS
 June 30, 1992 Dec. 31, 1991
 Total Assets $71,205,490 $73,271,592
 Total Liabilities 61,869,321 63,135,902
 Total Stockholders' Equity 9,336,169 10,135,690
 Three Months Ended Six Months Ended
 June 30, June 30,
 1992 1991 1992 1991
 Total Interest Income $697,444 $916,006 $1,525,021 $1,880,751
 Net Interest Income 397,125 522,281 830,935 1,073,083
 Provision for Loan/
 Lease Losses 144,900 0 326,900 0
 Total Other Income 437,830 548,968 781,422 876,975
 Total Other Expenses 1,154,404 981,211 2,286,978 2,010,329
 Net Income (loss) $(441,649) $65,888 $(799,521) $(38,321)
 Earnings Per Share ($0.44) $0.06 ($0.79) ($0.04)
 Weighted Number of
 Shares Outstanding 1,007,201 1,007,201 1,007,201 1,007,201
 -0- 8/4/92
 /CONTACT: Ralph E. Jewell for United Financial Banking Companies, 202-898-0676/
 (UFBC) CO: United Financial Banking Companies, Inc. ST: Virginia IN: FIN SU: ERN


DS -- DC023 -- 6847 08/04/92 17:30 EDT
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Publication:PR Newswire
Date:Aug 4, 1992
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