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DEERBANK CORP. RECORDS 23.9 PERCENT EARNINGS INCREASE FOR THE FISCAL YEAR ENDED SEPT. 30, 1992

 DEERFIELD, Ill., Nov. 24 ~PRNewswire~ -- Deerbank Corp. (NASDAQ: DEER) the holding company for Deerfield Federal Savings and Loan Association recorded net income of $5,723,000 for their fiscal year ended Sept. 30, 1992, an increase of 23.9 percent over the last fiscal year's earning of $4,620,000. The net income includes the results of operations of Northern Federal Savings Bank for the period subsequent to July 10, 1992, the date of its acquisition by Deerfield Federal.
 Earnings per common share were $4.61 for the fiscal year ended Sept. 30, 1992 and $3.87 per share for the fiscal year ended Sept. 30, 1991.
 Earnings for the fourth quarter ended Sept. 30, 1992 were $1,512,000 an increase of 37.7 percent over the $1,098,000 recorded for the similar period last year. Earnings per common share for the fourth quarter were $1.15 compared to $0.89 for the similar period last year.
 -0- 11~24~92
 ~CONTACT: David Mullins, 708-945-2550, for Deerfield Federal Savings~
 (DEER)


CO: Deerbank Corp. ST: Illinois IN: FIN SU: ERN

LR -- NY035 -- 1013 11~24~92 11:17 EST
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Publication:PR Newswire
Date:Nov 24, 1992
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