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FIDELITY SAVINGS BANK ANNOUNCES THIRD QUARTER EARNINGS AND QUARTERLY DIVIDEND

 PITTSBURGH, July 21 /PRNewswire/ -- Fidelity Savings Bank (NASDAQ-NMS: FSVA) Tuesday announced results for the third fiscal quarter ended June 30, 1993.
 Net income for the period was $520,000 or $.43 per share compared with net income of $335,000 or $.28 per share for the third quarter of fiscal 1992. Net income for the nine months ended June 30, 1993, was $1,729,000 or $1.43 per share, compared to net income of $897,000 or $.74 per share in the same period in fiscal 1992. Fidelity attributed the increased earnings to improved net interest income and gains from the sale of securities. Per share amounts for fiscal 1992 have been restated to reflect a 10 percent stock dividend paid May 10, 1993. At June 30, 1993, Fidelity had total assets of $267,761,000 and stockholders' equity of $18,142,000.
 The board of directors of Fidelity Savings Bank Tuesday declared a quarterly cash dividend of $.06 per share on the bank's common stock. The dividend is payable Aug. 10, 1993, to stockholders of record on Aug. 3, 1993. This represents the 20th consecutive cash dividend paid by Fidelity Savings Bank.
 Fidelity Savings Bank is a Pennsylvania-chartered, FDIC-insured savings bank conducting business through nine offices in Allegheny and Butler counties.
 FIDELITY SAVINGS BANK
 Financial data for the three and nine months
 ended June 30, 1993 and 1992
 Unaudited
 (In thousands, except per share data)
 Period Ended Three Months Nine Months
 June 30 1993 1992 1993 1992
 Interest income $4,633 $4,763 $13,963 $14,580
 Interest expense 2,431 2,960 7,494 9,285
 Net interest income before
 provision for loan
 losses 2,202 1,803 6,469 5,295
 Provision for loan losses 200 105 455 315
 Net interest income after
 provision for loan
 losses 2,002 1,698 6,014 4,980
 Gain (loss) on sale of
 investments 148 34 751 16
 Gain (loss) on sale of loans 7 17 16 29
 Other income 154 113 415 326
 Other expenses 1,415 1,288 4,242 3,816
 Income before income taxes 896 574 2,954 1,535
 Provision for income taxes 376 239 1,225 638
 Net income 520 335 1,729 897
 Earnings per common share $.43 $.28(A) $1.43 $.74(A)
 Cash dividends per share $.06 $.06 $.18 $.18
 Book value per share -- -- $14.94 $13.41(A)
 Shares outstanding -- -- 1,214,146 1,207,469(A)
 (A) Restated to reflect the 10 percent common stock dividend paid on May 10, 1993.
 -0- 7/21/93
 /CONTACT: Richard G. Spencer, chief financial officer of Fidelity Savings Bank, 412-931-4300/
 (FSVA)


CO: Fidelity Savings Bank ST: Pennsylvania IN: FIN SU: ERN

DM-KC -- PG007 -- 3915 07/21/93 11:49 EDT
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Publication:PR Newswire
Date:Jul 21, 1993
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