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CHARTER FEDERAL ANNOUNCES EXPECTED RECORD DATE FOR RIGHTS OFFERING

 BRISTOL, Va., June 29 /PRNewswire/ -- Charter Federal (NASDAQ: CHFDC) announced today that it expects the record date for its previously announced rights offering to shareholders to be on or about July 9, 1993. The Savings Bank filed a preliminary offering circular for the offering with the Office of Thrift Supervision on June 4, 1993. As previously announced, under the proposed terms of the offering, the Savings Bank will issue an estimated 5.95 subscription rights, which will be transferable, per share of common stock owned on the record date.
 Charter Federal, which began operation in 1920, is a federally- chartered stock savings bank headquartered in Bristol, Va., with 26 offices throughout Southwest Virginia and Northeast Tennessee. At March 31, 1993, Charter Federal had $692 million in assets and $592 million in deposits.
 -0- 6/29/93
 /CONTACT: Cecil R. McCullar, President and Chief Executive Officer, Charter Federal Savings Bank, 703-645-5220/
 (CHFDC)


CO: Charter Federal Savings Bank ST: Virginia IN: FIN SU: OFR

MM -- CH003 -- 6639 06/29/93 11:00 EDT
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Publication:PR Newswire
Date:Jun 29, 1993
Words:171
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