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ATLANFED BANCORP ANNOUNCES DIVIDEND

 BALTIMORE, Dec. 23 /PRNewswire/ -- Atlanfed Bancorp, Inc. (NASDAQ-NMS: AFED), Baltimore, announced that its board of directors declared a quarterly cash dividend of 10 cents per share, to be paid on Jan. 15, 1993, to stockholders of record as of the close of business on Dec. 31, 1992. This is the 21st consecutive quarterly cash dividend paid to stockholders.
 In June 1992 Atlanfed Bancorp issued a 15 percent stock dividend to stockholders, its fourth stock dividend since converting to a stock institution in 1986. Atlanfed has also increased cash dividends to stockholders every year since its first dividend payment in 1987. Earnings of the company during the six months ended Sept. 30, 1992, increased by 35 percent over the comparable period the preceding year.
 Atlanfed's primary subsidiary, Atlantic Federal Savings Bank, was founded in 1897 and currently operates 10 branches throughout the state of Maryland. Atlantic Home Mortgage Corporation, the bank's mortgage banking subsidiary, operates loan production offices in Towson, Pasadena, Elkton and Bel Air, Md.
 -0- 12/23/92
 /CONTACT: Richard E. Funke, chairman of the board and president, or Michael P. Gavin, executive vice president, Atlanfed Bancorp, 410-938-8610/
 (AFED)


CO: Atlanfed Bancorp, Inc. ST: Maryland IN: FIN SU: DIV

TW -- DC002 -- 9451 12/23/92 09:24 EST
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Publication:PR Newswire
Date:Dec 23, 1992
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