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CRAGIN FINANCIAL CORP. TO REPURCHASE AN ADDITIONAL 5% OF ITS STOCK

 CHICAGO, May 11 /PRNewswire/ -- Cragin Financial Corp. (NASDAQ-NMS: CRGN), intends to repurchase up to 5 percent, or 671,057 shares, of its own outstanding common stock between May 8, 1993 and Nov. 5, 1993, according to Adam A. Jahns, chairman and chief executive officer.
 This represents the fourth stock buyback by Cragin Financial Corp. "We feel that our stock is an excellent value at current prices," Jahns said. Repurchases through the open market will be made as management deems prudent.
 Cragin Financial Corp., a holding company organized in June 1991, has 13,421,159 shares outstanding. Cragin Federal Bank for Savings is a wholly
owned subsidiary of Cragin Financial Corp. The book value per share as of March 31, 1993 was $24.01. Cragin Financial Corp.'s common stock is traded on the NASDAQ National Market System under the symbol CRGN.
 -0- 5/11/93
 /CONTACT: Adam A.Jahns, chairman and CEO, 312-889-1000; or Fredric G. Novy, president and COO, 312-889-1000, both of Cragin Financial Corp./
 (CRGN)


CO: Cragin Financial Corp. ST: Illinois IN: FIN SU:

SB -- NY059 -- 7085 05/11/93 12:59 EDT
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Publication:PR Newswire
Date:May 11, 1993
Words:185
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