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CONTINENTAL SAVINGS OF AMERICA ANNOUNCES EARNINGS FOR FISCAL YEAR ENDED DEC. 31, 1991

 CONTINENTAL SAVINGS OF AMERICA ANNOUNCES EARNINGS
 FOR FISCAL YEAR ENDED DEC. 31, 1991
 SAN FRANCISCO, March 19 /PRNewswire/ -- Continental Savings of America (NASDAQ: CSAV), a federally chartered savings and loan, today reported a profit for the year ended Dec. 31, 1991, of $5.0 million or $1.85 per share. This compares to $484,000 or $0.18 per share for the year ended Dec. 31, 1990.
 The provision for loan losses was $2.3 million for the current year, versus a recovery of $241,000 for 1990. Total assets were $587 million at Dec. 31, 1991, compared to $637 million at Dec. 31, 1990.
 According to Charles A. Chenes, chairman, president and chief executive officer, "the increase in earnings despite a significant increase in the loan loss provision, is due to an improved interest margin and service fee revenues combined with a $4.0 million reduction in operating expenses. The improvement also included a $1.65 million cumulative effect of a change in accounting for income taxes."
 Continental Savings has seven savings branch offices in Northern California and seven loan origination offices in Northern and Southern California with its headquarters at 250 Montgomery St., San Francisco.
 -0- 3/19/92
 /CONTACT: Ernest Jurdana of Continental Savings of America, 415-274-3001/
 (CSAV) CO: Continental Savings of America ST: California IN: FIN SU: ERN


RF-DG -- SF005 -- 9927 03/19/92 19:23 EST
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Date:Mar 19, 1992
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