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

 PHILADELPHIA, Nov. 4 /PRNewswire/ -- ExecuFirst Bancorp, Inc. (NASDAQ: FXBC), parent company of First Executive Bank, today reported third quarter net income of $114,456, or $.09 per share, compared to net income of $54,517, or $.04 per share in the third quarter of 1992, an increase of 110 percent.
 For the first nine months of 1993, ExecuFirst reported net income of $505,671, or $.41 per share, compared to net income of $261,428, or $.21 per share in 1992's first nine months, an increase of 93 percent.
 Zvi H. Muscal, ExecuFirst chairman and First Executive Bank president and chief executive officer, attributed the growth primarily to higher net interest income and a lower provision for loan losses.
 The bank increased its loan loss reserve by approximately $103,000, for the third quarter and by a total of approximately $159,000, for the year's first nine months. Such an amount compares favorably to the $683,000 provided in the first nine months of 1992.
 "Year-to-year growth in net loans of 17 percent enabled First Executive Bank to increase net interest income in the face of lower interest rates," Muscal said.
 The company reported that net loans totaled $80 million on Sept. 30, 1993, compared to $68 million a year ago. Deposits grew from $82.7 million a year ago to $103.3 million at the end of 1993's third quarter, an increase of 25 percent. Total assets jumped from $92.4 million a year ago to $112.4 million this year, an increase of 23 percent.
 "Today is the official fifth anniversary of the bank's opening. The growth during this period in net income, assets, loans and deposits reflects the bank's continued success in developing its relationship with all its clients including its target market -- medical and legal professionals," stated Muscal.
 "In September of this year the bank celebrated the first year of operation of its branch in The Graduate Hospital. This branch has already exceeded all management's expectations. We are encouraged by its progress and foresee opening branches in other hospitals in the area in the future. Such branches in hospitals will enhance our ability to respond to the needs of medical and dental professionals and practices," Muscal said.
 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)
 Third quarter Nine months
 Periods ended 1993 1992 9/30/93 9/30/92
 Interest income $1,805,848 $1,634,575 $5,127,097 $5,081,468
 Interest expense 743,129 843,679 2,212,844 3,016,421
 Provision for loan losses 103,188 181,192 159,641 683,248
 Net interest income after
 provision for loan loss 959,531 609,704 2,754,612 1,381,799
 Other income 31,312 22,462 85,271 66,452
 Gain on Sales of
 securities (4,775) 91,274 158,175 816,558
 Income before other
 expenses 986,068 723,440 2,998,058 2,264,809
 Other expenses 871,612 668,923 2,492,387 2,003,381
 Net income 114,456 54,517 505,671 261,428
 Net income per common
 share $.09 $.04 $.41 $.21
 Weighted average number
 of shares outstanding 1,226,057 1,226,057 1,226,057 1,226,057
 At Sept. 30 1993 1992
 Total assets $112,399,642 $92,436,888
 Net loans 79,729,903 67,988,042
 Total deposits 103,335,919 82,734,398
 /delval/
 -0- 11/4/93
 /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

MJ-JM -- PH030 -- 0808 11/04/93 14:20 EST
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Date:Nov 4, 1993
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