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FIDELITY SAVINGS BANK ANNOUNCES THIRD QUARTER EARNINGS

 FIDELITY SAVINGS BANK ANNOUNCES THIRD QUARTER EARNINGS
 PITTSBURGH, July 22 /PRNewswire/ -- Fidelity Savings Bank


(NASDAQ-NMS: FSVA) Tuesday announced results for the third fiscal quarter ended June 30, 1992.
 Net income for the period was $335,000 or $0.31 per share compared with net income of $366,000 or $0.34 per share for the third quarter of fiscal 1991. Net income for the nine months ended June 30, 1992 was $897,000 or $0.82 per share compared to net income of $676,000 or $0.63 per share in the same period in fiscal 1991. Per share amounts for fiscal 1991 have been restated to reflect a 10 percent stock dividend paid May 8, 1992. At June 30, 1992, Fidelity had total assets of $253,505,000 and stockholders' equity of $16,190,000.
 Compared to fiscal 1991, the results for both the three- and nine-month periods in fiscal 1992 reflect increased net interest income offset by increased operating expenses that were primarily related to branch acquisitions. In addition, fiscal 1992 nine-month results reflect a decreased provision for loan losses.
 The board of directors of Fidelity Savings Bank Tuesday declared a quarterly cash dividend of $0.06 per share on the bank's common stock. The dividend is payable Aug. 10, 1992 to stockholders of record on Aug. 3, 1992. This represents the 16th 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
 (In thousands, except per share data)
 (Unaudited)
 Period Ended June 30 Three Months Nine Months
 1992 1991 1992 1991
 Interest income $4,763 $4,171 $14,580 $12,290
 Interest expense 2,960 2,709 9,285 8,110
 Net interest income
 before provision for
 loan losses 1,803 1,462 5,295 4,180
 Provision for loan losses 105 65 315 646
 Net interest income after
 provision for loan losses 1,698 1,397 4,980 3,534
 Gain (loss) on sale of
 investments 34 (20) 16 60
 Other income 130 116 355 283
 Other expenses 1,288 853 3,816 2,625
 Income before income
 taxes 574 640 1,535 1,252
 Provision for income taxes 239 274 638 576
 Net income 335 366 897 676
 Earnings per common share $.31 $.34 $.82 $.63
 Cash dividends per share $.06 $.06 $.18 $.18
 Book value per share at
 June 30, 1992 and 1991 -- -- $14.75 $13.88
 Per share amounts for 1991 have been restated to reflect a 10 percent stock dividend paid May 8, 1992.
 -0- 7/22/92
 /CONTACT: Richard D. Spencer, CFO of Fidelity Savings, 412-931-4300/
 (FSVA) CO: Fidelity Savings Bank ST: Pennsylvania IN: FIN SU: ERN


CD-DC -- PG013 -- 2089 07/22/92 16:15 EDT
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Publication:PR Newswire
Date:Jul 22, 1992
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