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FIRST FEDERAL SAVINGS BANK OF PUERTO RICO ANNOUNCES STOCK SPLIT

 SAN JUAN, Puerto Rico, Jan. 26 /PRNewswire/ -- First Federal Savings Bank of Puerto Rico (NASDAQ: FFPR), today announced that its board of directors has declared a three-for-two, (or 50 percent) stock split, for the issuance of approximately 2,121,000 of authorized but previously unissued common stock of the savings bank. The shares will be distributed on February 26, 1993, to holders of record, in proportion to their holdings, at the close of business on Feb. 5, 1993.
 For the 12 months ended Jan. 25, 1993, First Federal's stock price has experienced a return of 226.07 percent. "The market has recognized First Federal's improved performance in all aspects of its operations," said Angel Alvarez Perez, president of the savings bank. "The reason for this split is to enhance the trading volumes of our stock, by making it more accessible to individual investors and more available to institutional investors."
 First Federal Savings Bank, with $1.9 billion in total assets, is the largest savings institution in Puerto Rico, and second among local banking institutions, including local commercial banks. The bank, which exceeds all capital requirements, operates 30 branches in Puerto Rico and the U.S. Virgin Islands, and three branches in Miami through its wholly owned subsidiary, First Florida Savings Bank.
 -0- 1/26/92
 /CONTACT: Annie Astor de Carbonell, executive vice president and chief financial officer of First Federal Savings Bank of Puerto Rico, 809-724-1715/
 (FFPR)


CO: First Federal Savings Bank of Puerto Rico ST: IN: FIN SU:

JB-AW -- FL008 -- 9118 01/26/93 13:32 EST
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Publication:PR Newswire
Date:Jan 26, 1993
Words:258
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