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FIRST FEDERAL SAVINGS BANK REPORTS RESULTS

 LAKEWOOD, Colo., Jan. 19 /PRNewswire/ -- First Federal Savings Bank's (NASDAQ-NMS: FFBA) net income for the fourth quarter of 1992 was $3,942,000, or $0.94 per share, compared to $1,305,000, or $0.31 per share for the same period in 1991.
 Net income for the entire year of 1992 was $14,027,000, compared with $6,583,000 for 1991.
 According to Malcolm E. Collier, Jr., chairman and chief executive officer, this was the best year in First Federal's 107-year history, and can be attributed to a good Colorado economy and low interest rates.
 First Federal's assets on Dec. 31, 1992, stood at $958 million, and total deposits were $838 million.
 The bank has 20 Colorado branches and is one of the few larger Colorado-based and owned banking institutions left. Its stock is listed on the NASDAQ over the counter market.
 FIRST FEDERAL SAVINGS BANK OF COLORADO
 Statement of Condition Summary
 as of Dec. 31, 1992 and 1991
 (Dollars in thousands, except for per share data)
 Pct. Increase
 1992 1991 (Decrease)
 Total assets $957,528 $944,519 1.38 pct.
 Total deposits $837,602 $834,315 0.39 pct.
 Total loans $545,362 $551,623 -1.13 pct.
 Allowance for losses
 on loans & real estate
 owned & in judgement $5,327 $5,449 -2.24 pct.
 Shareholder's equity $86,161 NM NM
 Book value per share $20.61 NM NM
 NM -- Not meaningful
 FIRST FEDERAL SAVINGS BANK OF COLORADO
 Results of Operations
 For the 12 months ended Dec. 31, 1992 and 1991
 (Dollars in thousands, except for per share data)
 Pct. Increase
 1992 1991 (Decrease)
 Total interest income $75,771 $80,586 -5.97 pct.
 Total interest expense 40,798 53,242 -23.37 pct.
 Net interest income $34,973 $27,344 27.90 pct.
 Provision for loan
 losses 1,297 1,063 22.01 pct.
 Net interest income
 after provision for
 loan losses $33,676 $26,281 28.14 pct.
 Net gain on sale of
 loans & investments 325 214 51.87 pct.
 Other non-interest
 income 3,817 3,439 10.99 pct.
 Provision for losses on
 real estate owned &
 in judgement 797 3,095 -74.25 pct.
 Expenses of real estate
 operations, net (831) 854 -197.31 pct.
 Other non-interest
 expense 16,438 16,030 2.55 pct.
 Income before income
 taxes $21,414 $9,955 115.11 pct.
 Income tax expense 7,387 3,372 119.07 pct.
 Net income $14,027 $6,583 113.08 pct.
 Earnings per share $3.36 --- NM
 Cash dividends declared $421 --- NM
 Dividends per share(a) $0.3032 --- NM
 NM -- Not meaningful
 (a) $0.3032 per share dividend based on $0.65 annual dividend for period of July 14 to Dec. 31, 1992.
 FIRST FEDERAL SAVINGS BANK OF COLORADO
 Results of Operations
 For the three months ended Dec. 31, 1992 and 1991
 (Dollars in thousands, except for per share data)
 Pct. Increase
 1992 1991 (Decrease)
 Total interest income $18,437 $20,387 -9.56 pct.
 Total interest expense 9,058 12,784 -29.15 pct.
 Net interest income $9,379 $7,603 23.36 pct.
 Provision for loan
 losses 596 1,035 -42.42 pct.
 Net interest income after
 provision for
 loan losses $8,783 $6,568 33.72 pct.
 Net gain on sale of
 loans & investments 97 251 -61.35 pct.
 Other non-interest
 income 951 948 0.32 pct.
 Provision for losses on
 real estate owned &
 in judgement 122 1,471 -91.71 pct.
 Expenses of real estate
 operations, net (451) (52) -767.31 pct.
 Other non-interest
 expense 4,087 4,278 -4.46 pct.
 Income before income
 taxes $6,073 $2,070 193.38 pct.
 Income tax expense 2,131 765 178.56 pct.
 Net income $3,942 $1,305 202.07 pct.
 Earnings per share $0.94 --- NM
 Cash dividends declared $226 --- NM
 Dividends per share $0.1625 --- NM
 NM -- Not meaningful
 -0- 1/19/93 R
 /CONTACT: Malcolm E. Collier, chairman and CEO, or Brian L. Johnson, senior VP, of First Federal Savings Bank, 303-232-2121/
 (FFBA)


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

BP-JL -- DV004R -- 6374 01/19/93 12:59 EST
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Date:Jan 19, 1993
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