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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., Sept. 2 /PRNewswire/ -- Heritage Financial Services, Inc. (NASDAQ-NMS: HERS) today announced that it has executed a definitive agreement to acquire Alsip Bank and Trust, Alsip, Ill., for $7.8 million in cash. At June 30, 1992, Alsip Bank had assets of approximately $62 million.
 According to Richard T. Wojcik, Heritage Financial Services' chairman and chief executive officer, "the acquisition is consistent with our strategy of strengthening and expanding our market position in southwest suburban Chicago."
 Heritage Financial Services, Inc. is a multibank holding company headquartered in southwest suburban Chicago. With the acquisition of Alsip Bank, it will have assets in excess of $800 million. The company operates nine banking offices located in Tinley Park (2), Orland Park, Oak Lawn, Crestwood, Palos Heights, Mokena, Blue Island and Country Club Hills. The company also operates a trust company which serves all locations.
 The company's shares are traded on the NASDAQ National Market System under the symbol HERS.
 -0- 9/2/92
 /CONTACT: Paul A. Eckroth, senior vice president & treasurer, of Heritage Financial Services, Inc., 708-532-8008 ext. 2239/
 (HERS) CO: Heritage Financial Services, Inc.; Alsip Bank and Trust ST: Illinois IN: FIN SU: TNM


SM-LD -- NY073 -- 6148 09/02/92 17:55 EDT
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Publication:PR Newswire
Date:Sep 2, 1992
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