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FIRST FEDERAL SAVINGS BANK OF LAKE COUNTY CONCLUDES ITS CONVERSION TO A STOCK SAVINGS BANK

 LEESBURG, Fla., Jan. 10 /PRNewswire/ -- FFLC Bancorp, Inc. (NASDAQ-NMS: FFLC), the parent company of First Federal Savings Bank of Lake County, announced today that it has completed its sale of stock to the public. The sale of stock was part of First Federal's conversion from a mutual savings and loan association to a stock savings bank.
 FFLC Bancorp issued a total of 2,761,819 shares of common stock at a price of $10.00 per share, raising a total of $27,618,190. Following the sale of stock, and using June 30, 1993 proforma data, the savings bank had total capital of $38.9 million, or 13.78 percent of total assets. In addition, $10.0 million will be retained at the holding company level.
 FFLC Bancorp, Inc. is traded on the NASDAQ National Market System under the symbol FFLC. Trading began on Jan. 4, 1994. The initial public offering was underwritten by Baird/Mark Capital Group, Inc.
 -0- 1/10/94
 /CONTACT: Steve Kurtz, president of FFLC Bancorp, 904-787-3311/
 (FFLC)


CO: FFLC Bancorp, Inc. ST: Florida IN: FIN SU:

RK-AW -- FL012 -- 0527 01/10/94 11:12 EST
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Publication:PR Newswire
Date:Jan 10, 1994
Words:190
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