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CF BANCORP, INC. ANNOUNCES RECORD QUARTERLY PROFIT

 DAVENPORT, Iowa, April 14 /PRNewswire/ -- Paul Eckert, Chairman of CF Bancorp, Inc. (NASDAQ-NMS: CFBC), Davenport, Iowa, announced record profits of $633,000 for the company's third fiscal quarter ended March 31, 1993. This is a 26 percent improvement over the prior quarter earnings of $503,000. For the nine months ended March 31, 1993, earnings totaled $1,698,000 versus $1,519,000 for the first nine months of the prior fiscal year.
 Fully diluted earnings per share increased to $0.68 from $0.53 in the previous quarter. Return on stockholder equity was 13.73 percent and return on average assets was 1.22 percent annualized for the quarter ended March 31, 1993.
 The bank's loan portfolio increased 2.9 percent to $109,211,000 during the quarter. Nonperforming assets decreased to 0.32 percent of assets at March 31, 1993, compared to 0.42 percent of assets at Dec. 31, 1992.
 Eckert attributed the increased earnings to a favorable operating environment and the full quarter incremental earnings from an increased asset base.
 CF Bancorp, Inc., holding company for Citizens Federal Savings Bank, Davenport, Iowa, trades on the NASDAQ National Market System under the Symbol CFBC. The stock was first issued on July 1, 1992, for $10.00 per share and recently was bid at $18.00 per share. The company recently announced a quarterly dividend of eight cents per share payable April 30, 1993, for shareholders of record on April 15, 1993. This is a 14.3 percent increase over the prior quarterly dividend of $0.07.
 -0- 4/14/93
 /CONTACT: Greg I. Bohac, CF Bancorp, Inc., 319-322-6237/
 (CFBC)


CO: CF Bancorp, Inc. ST: Iowa IN: FIN SU: ERN

MM-CM -- CH011 -- 5845 04/14/93 15:41 EDT
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Publication:PR Newswire
Date:Apr 14, 1993
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