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ELMWOOD FEDERAL APPOINTS STIPA CHIEF OPERATING OFFICER

 ELMWOOD FEDERAL APPOINTS STIPA CHIEF OPERATING OFFICER
 MEDIA, Pa., March 19 /PRNewswire/ -- Richard F. Stipa will be joining Elmwood Federal Savings Bank (NASDAQ: EFSB) as executive vice president and chief operating officer.
 The appointment was announced today by Chairman and Acting Chief Executive Officer Frank C. Freeman, who said that Stipa will begin his duties at Elmwood Federal on Monday, March 23.
 Stipa leaves his post as senior vice president and chief financial officer and treasurer for Home Unity Savings Bank, PaSA, Lafayette Hill, Pa., where he has held several positions prior to his current assignment.
 An East Norriton resident, Stipa holds an M.B.A., with concentration in investment finance from Drexel University, and a B.A. in business and economics from Ursinus College.
 Elmwood Federal is headquartered in Media and has nine retail banking offices in Delaware, Chester and Philadelphia counties in Suburban Philadelphia. The bank's deposits are insured by the FDIC.
 /delval/
 -0- 3/19/92
 /CONTACT: Frank C. Freeman, chairman and acting CEO of Elmwood Federal Savings Bank, 215-565-8200/ CO: Elmwood Federal Savings Bank ST: Pennsylvania IN: FIN SU: PER


CC-MP -- PH026 -- 9744 03/19/92 13:55 EST
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Publication:PR Newswire
Date:Mar 19, 1992
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