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EXECUFIRST BANCORP, INC., PARENT OF FIRST EXECUTIVE BANK, REPORTS SECOND QUARTER RESULTS

 PHILADELPHIA, July 16 /PRNewswire/ -- ExecuFirst Bancorp, Inc. (NASDAQ: FXBC), parent company of First Executive Bank, today reported that net income for 1993's second quarter totaled $150,545 or $.12 per share, compared to earnings of $125,746 or $.10 per share in 1992's second quarter.
 For 1993's first six months, the company reported earnings of $391,215 or $.32 per share, compared to earnings of $206,911 or $.17 per share for 1992's first half.
 The company reported that assets at June 30, 1993, totaled $92.7 million, a modest increase of 0.4 percent from the end of 1992's second quarter. Total deposits increased by 1.4 percent from year-ago levels, reaching $83.9 million, and net loans rose by 16.4 percent to $74.8 million.
 Zvi H. Muscal, ExecuFirst chairman and First Executive Bank president and chief executive officer, said there was a 55 percent increase in net interest income in the second quarter of 1993 (before provisions for loan loss and securities gains) compared to the second quarter of 1992. Net interest income before provision for loan loss and securities gains was $980,287 in the 1993 quarter compared to $630,974 in 1992.
 Muscal attributed this growth to improving the mix of business, continued marketing efforts, and a broadening of the bank's client base to include more professionals, small businesses, and others.
 Muscal also stated, "We have seen increased activity at our Graduate Hospital branch which confirms that our marketing focus on the health care community is a vital one. Since adding consumer loans and residential mortgages, the branch has attracted many new clients who recognize the benefits of banking with us."
 First Executive Bank opened for business in November of 1988. It is a state-chartered bank and a member of the Federal Reserve System. Its deposits are insured by the Bank Insurance Fund administered by the Federal Deposit Insurance Corporation (FDIC).
 EXECUFIRST BANCORP, INC.
 and its only subsidiary
 FIRST EXECUTIVE BANK
 Operating Results
 (Unaudited)
 Second Quarter Six months ended
 1993 1992 6/30/93 6/30/92
 Interest Income $1,686,237 $1,662,639 $3,321,249 $3,446,893
 Interest expense,
 deposits 705,950 1,031,665 1,469,715 2,172,742
 Provision for
 loan losses 22,652 471,604 56,453 502,056
 Net interest income
 after provision
 for loan loss 957,635 159,370 1,795,081 772,095
 Securities gains 23,882 628,295 162,950 725,284
 Other income 27,087 19,798 53,959 43,990
 Income before
 other expenses 1,008,604 807,463 2,011,990 1,541,369
 Other expenses 858,059 681,717 1,620,775 1,334,458
 Net Income 150,545 125,746 391,215 206,911
 Net Income per
 common share $.12 $.10 $.32 $.17
 Weighted average
 number of shares
 outstanding 1,226,057 1,226,057 1,226,057 1,226,057
 6/30/93 6/30/92
 Total Assets $92,740,656 $92,369,830
 Net Loans 74,828,727 64,287,329
 Total Deposits 83,904,062 82,747,420
 /delval/
 -0- 7/16/93
 /CONTACT: Zvi H. Muscal, chairman of ExecuFirst Bancorp, 215-564-3300/
 (FXBC)


CO: ExecuFirst Bancorp, Inc.; First Executive Bank ST: Pennsylvania IN: FIN SU: ERN

MK-CC -- PH019 -- 2625 07/16/93 16:18 EDT
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Date:Jul 16, 1993
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