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FIDELITY SAVINGS BANK, PaSA ANNOUNCES YEAR-END EARNINGS

 FIDELITY SAVINGS BANK, PaSA ANNOUNCES YEAR-END EARNINGS
 PITTSBURGH, PA., Nov. 20 /PRNewswire/ -- Fidelity Savings Bank, PaSA (NASDAQ-NMS: FSVA) today announced results for the 12 months ended Sept. 30, 1991. Net income for the period was $1,098,000, or $1.12 per share, versus net income of $1,032,000, or $1.06 per share, for the comparable period last year.
 Net interest income for fiscal 1991 rose 14 percent to $5,766,000, compared to $5,048,000 in the previous year. At Sept. 30, 1991, Fidelity Savings had total assets of $186,512,000 and stockholders' equity of $15,316,000, or $15.67 per share.
 For the three months ended Sept. 30, 1991, net income was $422,000 or 43 cents per share, compared with net income of $228,000, or 23 cents per share, in the same quarter last year. Net interest income for the period was $1,586,000, versus $1,232,000 for the fourth quarter of fiscal 1990.
 Fidelity Savings Bank, PaSA is a Pennsylvania-chartered, FDIC insured savings institution conducting business through eight offices in Allegheny and Butler counties.
 FIDELITY SAVINGS BANK, PaSA
 Financial Data
 (Unaudited, in thousands, except per-share data)
 Three Months ended Sept. 30: 1991 1990
 Interest income $ 4,211 $ 3,882
 Interest expense 2,625 2,650
 Net interest income before
 provision for loan losses 1,586 1,232
 Provision for loan losses 75 53
 Net interest income after
 provision for loan losses 1,511 1,179
 Gain (loss) on sale of investments 36 (3)
 Other income 96 105
 Other expenses 946 889
 Income before income taxes 697 392
 Provision for income taxes 275 164
 Net income $ 422 $ 228
 Earnings per common share $ 0.43 $ 0.23
 Dividends per share $ 0.06 $ 0.06
 Book value per share $ 15.67 $ 14.72
 Share outstanding 977,720 977,720
 Twelve months ended Sept. 30: 1991 1990
 Interest income $ 16,501 $ 15,718
 Interest expense 10,735 10,670
 Net interest income before
 provision for loan losses 5,766 5,048
 Provision for loan losses, net
 of recoveries 721 181
 Net interest income after
 provision for loan losses 5,045 4,867
 Gain on sale of investments 96 5
 Other income 379 365
 Other expenses $ 3,571 $ 3,483
 Income before income taxes 1,949 1,754
 Provision for income taxes $ 851 $ 722
 Net income $ 1,098 $ 1,032
 Earnings per common share $ 1.12 $ 1.06
 Dividends per share $ 0.24 $ 0.24
 Book value per share $ 15.67 $ 14.72
 Shares outstanding 977,720 977,720
 -0- 11/20/91
 /CONTACT: Richard G. Spencer of Fidelity Savings Bank, 412-931-4300/
 (FSVA) CO: Fidelity Savings Bank ST: Pennsylvania IN: FIN SU: ERN


JH-SC -- PG012 -- 5638 11/20/91 18:11 EST
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Publication:PR Newswire
Date:Nov 20, 1991
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