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GLENDALE BANCORPORATION ANNOUNCES FIRST QUARTER RESULTS

 VOORHEES, N.J., April 16 /PRNewswire/ -- Glendale Bancorporation (NASDAQ: GNBC) today reported net income of $138,000, or $.07 per share, for the quarter ended March 31, 1993, as compared with $164,000, or $.09 per share, for the same period in 1992.
 The decrease in earnings was primarily attributed to a higher provision for loan losses which totaled $435,000 for the first quarter of 1993 vs. $330,000 for the first quarter of 1992.
 Glendale Bancorporation, which is the parent company of Glendale National Bank of New Jersey and Glendale Bank of Pennsylvania, reported total consolidated assets of approximately $240 million as of March 31, 1993.
 /delval/
 -0- 4/16/93
 /CONTACT: Joseph J. Zullo, vice president and chief accounting officer of Glendale Bancorporation, 609-627-0300/
 (GNBC)


CO: Glendale Bancorporation ST: New Jersey IN: FIN SU: ERN

MJ-CC -- PH043 -- 8364 04/20/93 18:45 EDT
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Publication:PR Newswire
Date:Apr 20, 1993
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