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CITFED BANCORP COMMON STOCK BEGINS TRADING

 CITFED BANCORP COMMON STOCK BEGINS TRADING
 DAYTON, Ohio, Jan. 22 /PRNewswire/ -- Jerry L. Kirby, chairman of


CitFed Bancorp, Inc., has announced that public trading of the stock of CitFed Bancorp, the holding company of Citizens Federal Bank, began today under the symbol CTZN.
 The holding company was formed to own all of the stock of Citizens Federal Bank issued in connection with its conversion from the mutual to the stock form of organization.
 A total of 3,600,000 shares of CitFed Bancorp have been sold at $9.00 per share resulting in gross proceeds of $32,400,000. Approximately 1,424,000 shares were sold in the Subscription and Community Offering which expired on Jan. 10, and the remaining 2,176,000 shares were sold in an underwritten public offering led by Salomon Brothers, Paine Webber and McDonald and Company.
 "We are extremely pleased with the response to our stock offering both in our local community and among institutional investors," Kirby stated. "As Dayton's only locally based financial institution, we look forward to serving our customers as a public company."
 The conversion is expected to close on Jan. 29, 1992.
 -0- 1/22/92
 /CONTACT: Diana Schoenberger of Citizens Federal, 513-229-8319/
 (CTZN) CO: Citizens Federal ST: Ohio IN: FIN SU:


LC -- CL020 -- 2495 01/22/92 16:54 EST
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Publication:PR Newswire
Date:Jan 22, 1992
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