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AMERICAN BANK OF CONNECTICUT REPORTS RESULTS

 WATERBURY, Conn., Oct. 12 /PRNewswire/ -- Gene C. Guilbert, president of American Bank of Connecticut (AMEX: BKC), announced today that the bank's net income for the third quarter of 1993 was $1,522,000 compared to $1,211,000 earned by the bank during the third quarter of 1992. Net income per share for the quarter was $.69 compared to $.55 in 1992.
 Net income for the first nine months of the year was $4,568,000 or $2.07 per share, compared to $3,621,000 or $1.66 per share earned during the same period in 1992.
 American Bank of Connecticut is a state chartered savings bank with assets of $460 million, shareholders' equity of $36 million and a period ending book value of $16.68. The bank is headquartered in Waterbury. Its stock is traded on The American Stock Exchange under the symbol BKC.
 AMERICAN BANK OF CONNECTICUT
 Quarter ended Sept. 30, 1993 1992
 Net income $1,522,000 $1,211,000
 Per share earnings $ 0.69 $ 0.55
 Average shares 2,207,165 2,191,522
 Dividends per share $ 0.33 $ 0.33
 Year to date ended Sept. 30, 1993 1992
 Net income $4,568,000 $3,621,000
 Per share earnings $ 2.07 $ 1.66
 Average shares 2,205,241 2,186,393
 Dividends per share $ 0.99 $ 0.99
 -0- 10/12/93
 /CONTACT: Betty Veillette of American Bank of Connecticut, 203-757-9401/
 (BKC)


CO: American Bank of Connecticut ST: Connecticut IN: FIN SU: ERN

MP-SH -- NY072 -- 1197 10/12/93 14:40 EDT
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Publication:PR Newswire
Date:Oct 12, 1993
Words:258
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