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FIRST FEDERAL BANK ANOUNCES FIRST QUARTER EARNINGS OF $3.95 MILLION

 LAKEWOOD, Colo., April 8 /PRNewswire/ -- First Federal Savings Bank of Colorado (NASDAQ-NMS: FFBA) announced first quarter, 1993 earnings of $3,947,000, or $0.94 per share. This compares to $3,103,000 for the first quarter of 1992.
 First Federal's total assets reached $1 billion during the first quarter.
 The bank has 20 branches in Colorado, and is the largest publicly traded bank or thrift institution based in Colorado. The bank has agreed to purchase Columbia Savings' branch offices in Grand Junction, Montrose and Delta, Colo., and expects to complete the acquisition in June of 1993.
 For more information, contact Malcolm E. Collier, chief executive officer, or Brian L. Johnson, chief financial officer.
 FIRST FEDERAL SAVINGS BANK OF COLORADO
 Statement of Condition Summary
 as of March 31, 1993 and 1992
 (Dollars in thousands, except for per share data)
 Pct. Increase
 1993 1992 (Decrease)
 Total assets $1,029,993 $967,035 6.51 pct.
 Total deposits $833,800 $845,505 (1.38 pct.)
 Total loans $566,672 $538,670 5.20 pct.
 Allowance for losses
 on loans & real estate
 owned & in judgment $5,386 $5,426 (0.74 pct.)
 Stockholder's equity $87,421(a) NM NM
 Book value per share $20.91 NM NM
 NM -- Not meaningful.
 (a) Includes a reduction of $2.4 million, reflecting the preliminary implementation of FASB Statement No. 109 (Accounting for Income Taxes).
 FIRST FEDERAL SAVINGS BANK OF COLORADO
 Results of Operations
 For the Three Months Ended March 31, 1993 and 1992
 (Dollars in thousands, except for per share data)
 Pct. Increase
 1993 1992 (Decrease)
 Total interest income $17,827 $19,918 (10.50 pct.)
 Total interest expense 8,597 11,353 (24.28 pct.)
 Net interest income $9,230 $8,565 7.76 pct.
 Provision (credit) for
 loan losses (59) 349 (116.91 pct.)
 Net interest income after
 provision for loan losses $9,289 $8,216 13.06 pct.
 Net gain on sale of
 loans & investments 131 0 NM
 Other non-interest income 930 910 2.20 pct.
 Provision for losses on
 real estate owned &
 in judgement (92) (411) (77.62 pct.)
 Expenses of real estate
 operations, net (105) (48) 118.75 pct.
 Other non-interest expense (4,283) (3,857) 11.04 pct.
 Income before income taxes $5,870 $4,810 22.04 pct.
 Income tax expense 1,923 1,707 12.65 pct.
 Net income $3,947 $3,103 27.20 pct.
 Earnings per share $0.94 NM NM
 Cash dividends declared(a) $278 NM NM
 Dividends per share(a) $0.20 NM NM
 NM -- Not meaningful
 (a) The bank became publicly traded on July 14, 1992. Cash dividends declared and dividends per share are based on 1,388,600 shares that are publicly traded.
 -0- 4/8/93
 /CONTACT: Malcolm E. Collier, CEO, or Brian L. Johnson, CFO of First Federal Savings Bank, 303-232-2121/
 (FFBA)


CO: First Federal Savings Bank ST: Colorado IN: FIN SU: ERN

BP-MC -- DV009 -- 4322 04/08/93 15:07 EDT
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Date:Apr 8, 1993
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