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EDGEMARK FINANCIAL CORPORATION POSTS SECOND QUARTER GAINS

 CHICAGO, July 20 /PRNewswire/ -- EdgeMark Financial Corporation (NASDAQ: EDGE) today reported that 1993 second quarter net income applicable to common stock rose nearly 10-fold to $812,027, or $0.56 per common share, compared to a $91,639 loss or $0.06 per common share for the same quarter last year.
 Earnings for the first half of 1993 were up 300 percent to 1,537,478, or $1.06 per common share, from the $384,648, or $0.27 per common share, recorded for the first six months of 1992.
 According to Charles A. Bruning, president and chief executive officer, the quarter's performance was primarily attributable to improved margins, lower charge-offs, expense control and strong gains in fee income.
 Net interest income rose 6.7 percent for the quarter to $5,853,232, from $5,488,889 for the second quarter of 1992. The loan loss provision declined to $744,000, from $1,011,083 a year earlier. Net charge-offs for the quarter were $108,596, as compared to $1,148,520 for the second quarter of 1992. The allowance for loan losses was 1.83 percent of net loans for the quarter, compared to 1.23 percent a year earlier. The ratio of non-performing to net loans decreased to 1.42 percent at June 30, 1993 from 1.68 percent at June 30, 1992. Net loans outstanding for the first six months were $332,545,080, essentially unchanged from the same period last year.
 Total assets as of June 30, 1993 were $513,583,014, and stockholders' equity stood at $39,624,791.
 Noninterest income for the quarter increased 67.2 percent with strong contributions from the company's mortgage brokerage operations. Noninterest expense was up 8.3 percent in total and down 3.1 percent net of the mortgage brokerage operations expense, reflecting continued cost savings from the restructuring and backroom consolidation efforts the company initiated in the fourth quarter of 1992.
 EdgeMark Financial Corporation is a $513 million asset, multi-bank holding company that owns and operates Merchandise National Bank of Chicago; Edgewood Bank in Countryside and Woodridge; EdgeMark Bank Lombard; First National Bank of Lockport and EdgeMark Bank Rosemont.
 EDGEMARK FINANCIAL CORPORATION
 SECOND QUARTER 1993 AND SIX MONTHS FINANCIAL HIGHLIGHTS
 QUARTERLY COMPARISON 2Q'93 2Q'92 PCT. CHANGE
 Net income $1,009,947 $ 103,040 880.15
 Net income applicable to common 812,027 (91,639) 986.12
 Per common share $0.56 $(0.06) 1,033.33
 Net interest income $5,853,232 $5,488,889 6.64
 Return on average assets (pct.) .76 .48 N/A
 Return on average common equity 12.92 5.88 N/A
 Noninterest income $2,292,064 $1,371,095 67.17
 Noninterest expense 6,163,807 5,690,922 8.31
 Loan loss provision (744,000) (1,011,083) (26.42)
 Net charge-offs (108,596) (1,148,520) N/A
 Weighted average shares and
 share equivalents 1,456,206 1,454,692 N/A
 YEAR-TO-DATE COMPARISON 1993 1992 PCT. CHANGE
 Net income $1,932,469 $ 773,257 149.90
 Net income applicable to
 common 1,537,478 384,648 299.71
 Per common share $1.06 $0.27 301.89
 Net interest income $11,414,369 $10,908,819 4.63
 Return on average assets (pct.) .73 .50 N/A
 Return on average common equity 12.05 6.11 N/A
 Noninterest income $4,251,910 $3,248,276 30.90
 Noninterest expense 11,899,907 11,258,563 5.7
 Loan loss provision (1,388,000) (1,898,833) (26.90)
 Net charge-offs (208,555) (2,188,198) N/A
 Weighted average shares and
 share equivalents 1,455,757 1,454,383 N/A
 BALANCE SHEET (SIX MONTHS ENDED JUNE 30)
 6/30/93 12/31/92 6/30/92
 Assets $513,583,014 $516,017,198 $508,828,888
 Deposits 446,399,346 459,661,414 446,262,078
 Net loans 332,545,080 333,312,617 334,992,536
 Shareholders' equity 39,624,791 37,862,322 41,917,289
 Allowance for loan losses (6,202,681) (5,022,616) (4,156,729)
 Allowance as a percent of
 net loans (percent) 1.83 1.48 N/A
 Non-performing loans -- -- -
 as a pct. of net loans 1.42 1.25 N/A
 Leverage ratio 4.60 4.09 N/A
 Book value per common share $21.86 $20.70 N/A
 -0- 7/20/93
 /CONTACT: Charles Bruning of EdgeMark Financial, 312-836-8001; or George Morvis of Financial Shares Corp., 312-943-8116, for EdgeMark Financial/
 (EDGE)


CO: EdgeMark Financial Corporation ST: Illinois IN: FIN SU: ERN

PS -- NY075 -- 6857 07/20/93 13:03 EDT
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Date:Jul 20, 1993
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