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FIDELITY BANCORP, INC. ANNOUNCES YEAR-END EARNINGS

 PITTSBURGH, Nov. 17 /PRNewswire/ -- Fidelity Bancorp, Inc. (NASDAQ-NMS: FSBI) today announced results for the 12 months ended Sept. 30, 1993.
 Net income for the period was $2,194,000 or $1.75 per share vs. net income of $1,322,000 or $1.07 per share for the comparable period last year. The generally low interest rate environment in fiscal 1993 which provided an improved interest margin was a significant factor in the increased earnings, as well as, to a lesser extent, gains from the sale of securities.
 Net interest income for fiscal 1993 rose 18 percent to $8.5 million compared to $7.2 million in the previous year. At Sept. 30, 1993, Fidelity Bancorp, Inc. had total assets of $267.2 million and stockholders' equity of $18.5 million or $15.27 per share.
 For the three months ended Sept. 30, 1993, net income was $465,000 or $.37 per share compared with net income of $425,000 or $.34 per share in the same quarter last year. Net interest income for the period was $2.1 million vs. $1.9 million for the fourth quarter of fiscal 1993.
 Fidelity Bancorp, Inc. is the holding company of Fidelity Savings Bank, a Pennsylvania-chartered, FDIC-insured savings bank conducting business through nine offices in Allegheny and Butler counties.
 FIDELITY BANCORP, INC.
 Financial data for the 12 months ended Sept. 30, 1993 and 1992
 Unaudited
 (In thousands, except per share data)
 1993 1992
 Interest income $18,516 $19,258
 Interest expense 9,983 12,084
 Net interest income before
 provision for loan losses 8,533 7,174
 Provision for loan losses, net
 of recoveries 655 483
 Net interest income after
 provision for loan losses 7,878 6,691
 Gain on sale of investments 751 312
 Gain on sale of loans 57 47
 Other income 569 462
 Other expenses 5,650 5,180
 Income before income taxes 3,605 2,332
 Provision for income taxes 1,411 1,010
 Net income 2,194 1,322
 Earnings per common share $1.75 $1.07(A)
 Cash dividends per share $.24 $.24
 Book value per share $15.27 $13.68(A)
 Shares outstanding 1,214,675 1,213,277(A)
 (A) Restated to reflect the 10 percent common stock dividend paid on May 10, 1993.
 Financial data for the three months ended Sept. 30, 1993 and 1992
 Unaudited
 (In thousands, except per share data)
 1993 1992
 Interest income $4,553 $4,678
 Interest expense 2,489 2,799
 Net interest income before
 provision for loan losses 2,064 1,879
 Provision for loan losses, net
 of recoveries 200 168
 Net interest income after
 provision for loan losses 1,864 1,711
 Gain on sale of investments (0) 296
 Gain on sale of loans 41 18
 Other income 154 136
 Other expenses 1,408 1,364
 Income before income taxes 651 797
 Provision for income taxes 186 372
 Net income 465 425
 Earnings per common share $.37 $.34(A)
 Cash dividends per share $.06 $.06
 Book value per share $15.27 $13.68(A)
 Shares outstanding 1,214,675 1,213,277(A)
 (A) Restated to reflect the 10 percent common stock dividend paid on May 10, 1993.
 -0- 11/17/93
 /CONTACT: Richard G. Spencer, chief financial officer, of Fidelity Bancorp, 412-931-4300/
 (FSBI)


CO: Fidelity Bancorp, Inc.; Fidelity Savings Bank ST: Pennsylvania IN: FIN SU: ERN

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Date:Nov 17, 1993
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