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FIRST FEDERAL SAVINGS BANK DECLARES 3 FOR 2 STOCK SPLIT

 FIRST FEDERAL SAVINGS BANK DECLARES 3 FOR 2 STOCK SPLIT
 SALT LAKE CITY, Feb. 21 /PRNewswire/ -- The board of directors of First Federal Savings Bank (NASDAQ: FFUT), headquartered in Salt Lake City, today declared a 50 percent stock dividend, which will be accounted for as a stock split, on the Bank's outstanding common stock. Under this plan, shareholders will receive one additional share for every two shares currently owned. The stock dividend is payable on April 6, 1992, to stockholders of record as of March 10, 1992. Stockholders entitled to receive fractional shares as a result of the stock dividend will instead receive cash equal to the market value of the fractional shares.
 The board of directors feels that due to the strong growth in the Bank's earnings and assets during the past several years, a stock split is appropriate at this time.
 First Federal is a federally chartered capital stock savings bank. At Dec. 31, 1991, First Federal had 1,332,977 shares of common stock issued and outstanding.
 -0- 2/21/92
 /CONTACT: Allen C. Barbieri of First Federal Savings Bank, 801-366-2205/
 (FFUT) CO: First Federal Savings Bank ST: Utah IN: FIN SU:


BB -- DV001 -- 1327 02/21/92 10:48 EST
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Publication:PR Newswire
Date:Feb 21, 1992
Words:204
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