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CENTRAL HOLDING COMPANY REPORTS RESULTS OF FOURTH QUARTER AND FISCAL YEAR ENDED JUNE 30, 1992

 CENTRAL HOLDING COMPANY REPORTS RESULTS OF FOURTH QUARTER
 AND FISCAL YEAR ENDED JUNE 30, 1992
 MOUNT CLEMENS, Mich., Aug. 14 /PRNewswire/ -- Central Holding Company (NASDAQ-NMS: CHOL) (the "company" or "CHC" ) reported net income of $385,000, or $0.11 per share and a net loss of $7,734,000, or $2.14 per share for the three months and fiscal year ended June 30, 1992, as compared to net losses of $230,000, or $0.06 per share and $430,000 or $0.12 per share for the corresponding periods one year earlier.
 CHC reported net losses from continuing operations and before extraordinary items of $23,000 and $3,776,000 for the three months and fiscal year ended June 30, 1992, as compared to net losses of $224,000 and $424,000 for the corresponding periods one year earlier.
 CHC previously announced that on June 30, 1992, it completed the sale of Red Carpet Holding Company, Gallery of Homes, Inc. and Tranex Relocation Services, Inc. to National Real Estate Service of Vancouver, British Columbia. Additionally, CHC's wholly owned subsidiary, Colonial Central Savings Bank, F.S.B. ("Colonial"), previously announced that it had entered into a branch purchase and deposit assumption agreement on July 16, 1992, with Citizens Banking Company ("Citizens"), headquartered in Anderson, Ind. Under the agreement, Citizens would assume Colonial's Indiana deposits and purchase certain assets from Colonial, including loans, investments and Colonial's five Indiana banking center locations. The transaction is subject to regulatory approval.
 CHC is a financial services organization headquartered in Mount Clemens. Its main operating subsidiaries include: Colonial Central Savings Bank, F.S.B., a federally chartered stock savings bank; the Keim Group Ltd., which franchises real estate brokerage offices in Michigan; and Central Mortgage Corporation, which originates residential mortgage loans.
 CENTRAL HOLDING COMPANY
 OPERATING HIGHLIGHTS
 (In thousands of dollars, except per-share data)
 Three Months Ended Year Ended
 June 30, June 30,
 1992 1991 1992 1991
 Net interest income $2,663 $2,659 $10,311 $10,728
 Net loss from
 continuing operations (23) (224) (3,776) (424)
 Net income (loss) from
 discontinued operations 408 (6) (3,278) (6)
 Net income (loss) after
 discontinued operations
 but before extraordinary
 item 385 (230) (7,054) (430)
 Net loss from
 extraordinary items --- --- (680) ---
 Net income (loss) 385 (230) (7,734) (430)
 Per-share data:
 Net loss per share from
 continuing operations (0.01) (0.06) (1.04) (0.12)
 Net income (loss) per
 share from discontinued
 operations 0.12 --- (0.91) ---
 Net income (loss) per
 share after discontinued
 operations but before
 extraordinary items 0.11 (0.06) (1.95) (0.12)
 Net loss per share from
 extraordinary items --- --- (0.19) ---
 Net loss per share 0.11 (0.06) (2.14) (0.12)
 Avg. shares outstanding 3,622 3,622 3,622 3,622
 BALANCE SHEET HIGHLIGHTS
 (In thousands of dollars, except per-share data)
 June 30, June 30,
 1992 1991
 Total assets $357,859 $455,796
 Loans receivable, net 240,565 300,719
 Deposit accounts 303,067 341,974
 Stockholders' equity 10,418 18,081
 Book value per share 2.88 4.99
 -0- 8/14/92
 /CONTACT: Margaret S. Makela or Robert N. Schuster of Central Holding Company, 313-792-7000/
 (CHOL) CO: Central Holding Company ST: Michigan IN: FIN SU: ERN


DH-SB -- DE003 -- 9924 08/14/92 10:05 EDT
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Date:Aug 14, 1992
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