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ATLANFED BANCORP DECLARES DIVIDEND

 ATLANFED BANCORP DECLARES DIVIDEND
 BALTIMORE, Sept. 22 /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 Oct. 15, 1992, to stockholders of record as of the close of business on Oct. 2, 1992. This is the 20th 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 most recent fiscal year ended March 31, 1992, increased by 56 percent over the preceding fiscal 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- 9/22/92
 /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


DC -- DC011 -- 2104 09/22/92 10:48 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Sep 22, 1992
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