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GLENDALE BANCORPORATION ANNOUNCES 1991 ANNUAL RESULTS

 GLENDALE BANCORPORATION ANNOUNCES 1991 ANNUAL RESULTS
 VOORHEES, N.J., Jan. 13 /PRNewswire/ -- Glendale Bancorporation


(NASDAQ: GNBC), the holding company of Glendale National Bank of New Jersey and Glendale Bank of Pennsylvania, today reported net income of approximately $225,000 for the year ended Dec. 31, 1991, as compared with $124,000 for 1990.
 On a per-share basis, primary and fully diluted net income was $.12 as compared to $.06 for the years ended Dec. 31, 1991, and 1990, respectively. During the year ended Dec. 31, 1991, the corporation provided approximately $2.5 million to the provision for loan losses and other real estate owned as compared to $2,375,000 for 1990. Total consolidated assets were approximately $235 million at Dec. 31, 1991.
 /delval/
 -0- 1/13/92
 /CONTACT: James M. Golubieski of Glendale Bancorporation, 609-346-8400/
 (GNBC) CO: Glendale Bancorporation ST: New Jersey IN: FIN SU: ERN


KA-CC -- PH023 -- 9229 01/13/92 16:39 EST
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Publication:PR Newswire
Date:Jan 13, 1992
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