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HERITAGE FINANCIAL SERVICES TO ACQUIRE ALSIP BANK AND TRUST

 HERITAGE FINANCIAL SERVICES TO ACQUIRE ALSIP BANK AND TRUST
 TINLEY PARK, Ill., Dec. 2 /PRNewswire/ -- Heritage Financial Services, Inc. (NASDAQ-NMS: HERS), today announced that it has entered into a purchase contract to acquire Alsip Bank and Trust, Alsip, Ill., for an approximate purchase price of $8.2 million in cash. The transaction is subject to, among other conditions, entering into a definitive agreement and regulatory approvals. At Sept. 30, 1991, the Alsip Bank had assets of approximately $59 million.
 According to Richard T. Wojcik, Heritage Financial Services' chairman and chief executive officer, "The acquisition is consistent with our strategy of expanding our presence in existing and contiguous markets. It further solidifies our position as the leading banking organization in southwest suburban Chicago."
 Heritage Financial Services, Inc., is a bank holding company with assets in excess of $665 million. It is headquartered in southwest suburban Chicago and operates eight banking offices located in Blue Island, Crestwood, Oak Lawn, Tinley Park (2), Orland Park, Palos Heights and Mokena. Heritage Financial also operates a trust company which serves all locations.
 -0- 12/2/91
 /CONTACT: Paul A. Eckroth, senior vice president and treasurer of Heritage Financial Services, 708-614-0397/
 (HERS) CO: Heritage Financial Services, Inc.; Alsip Bank and Trust ST: Illinois IN: FIN SU: TNM


SH-GK -- NY050 -- 8393 12/02/91 13:26 EST
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Publication:PR Newswire
Date:Dec 2, 1991
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