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FARRAGUT MORTGAGE COMPLETES PUBLIC OFFERING

 FARRAGUT MORTGAGE COMPLETES PUBLIC OFFERING
 MANSFIELD, Mass., March 9 /PRNewswire/ -- Farragut Mortgage Co.,


Inc. (AMEX: FMS) announced today that it completed a public offering of 2 million shares of common stock at a price of $6.50 per share on March 3, 1992. The company's shares are traded on the American Stock Exchange and its symbol is FMS.
 Paulson Investment Company, Inc. and H.D. Brous & Co., Inc. were the representatives of the underwriting group.
 Farragut intends to use the net proceeds from the sale of shares to support its purchase of servicing.
 Farragut is engaged in the residential mortgage banking business which involves the origination, purchase, sale and servicing of one-to-four family mortgage loans.
 For further information, contact Edward D. Lagarde, president and chief executive officer, 21 Oxford Rd., Mansfield, Mass., 02048.
 -0- 3/9/92
 /CONTACT: Edward D. Lagarde of Farragut, 508-337-8605/
 (FMS) CO: Farragut Mortgage Co., Inc. ST: Massachusetts IN: FIN SU: OFR


EG-SH -- NE018 -- 6581 03/09/92 17:04 EST
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Publication:PR Newswire
Date:Mar 9, 1992
Words:165
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