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ATLANFED BANCORP, INC. AND CAPITAL BANKSHARES, INC. ANNOUNCE TERMINATION OF DISCUSSIONS

 BALTIMORE, Feb. 11 /PRNewswire/ -- Atlanfed Bancorp, Inc. (NASDAQ-NMS: AFED) and Capital Bankshares, Inc., today jointly announced that they had mutually agreed to terminate discussions concerning the acquisition of Capital by Atlanfed as previously announced on Nov. 13, 1992. Atlanfed had proposed to acquire all of the outstanding common stock of Capital for $13.50 per share in cash. After further discussions, the parties determined that it was in the best interests of their respective companies and shareholders not to pursue the proposed transaction.
 Atlanfed Bancorp is the parent company for Atlantic Federal Savings Bank. Atlantic Federal operates a total of 10 offices throughout the state of Maryland and had total assets of $242.6 million as of Dec. 31, 1992. The deposit accounts of Atlantic Federal are insured by the Federal Deposit Insurance Corporation.
 -0- 2/11/93
 /CONTACT: Richard E. Funke, chairman and president, or Michael P. Gavin, executive vice president, 410-938-8610, both of Atlanfed Bancorp, Inc./
 (AFED)


CO: Atlanfed Bancorp, Inc.; Capital Bankshares, Inc. ST: Maryland IN: FIN SU:

KD -- DC013 -- 5823 02/11/93 15:33 EST
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Publication:PR Newswire
Date:Feb 11, 1993
Words:180
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