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HOME UNITY REPORTS FIRST QUARTER FINANCIAL RESULTS

 HOME UNITY REPORTS FIRST QUARTER FINANCIAL RESULTS
 LAFAYETTE HILL, Pa., May 15 /PRNewswire/ -- Home Unity Savings


Bank PaSA (NASDAQ: HUSB) today reported net income of $185,000, or $.08 per share, for the first quarter of 1992.
 This compares to Home Unity's results for the first quarter of 1991, when the bank reported a net loss of $795,000, or $.33 per share.
 Net interest income after provision for loan losses for the first quarter of 1992 was approximately $3.7 million, an increase of approximately $900,000 (32.1 percent) over the comparable figure of $2.8 million for the first quarter of 1991. Home Unity's net interest spread improved to 2.81 percent at March 31, 1992, from 2.59 percent at March 31, 1991. The bank's consolidated "one-year gap" as a percentage of total assets was a positive 1.85 percent at March 31, 1992. Accordingly, Home Unity's exposure to fluctuations in interest rates remains low.
 Michael C. Rush, president, commented: "We are pleased with the bank's first quarter profit. We are managing Home Unity as a conservative community-oriented bank."
 Under a prior agreement with the Office of Thrift Supervision Home Unity has agreed to the appointment of a conservator or a receiver, or other reorganization. In other similar situations in which a governmental conservator or receiver has been appointed, shareholder interests have usually been eliminated as a result of such action. The bank's annual meeting of shareholders is planned for later in the year.
 Home Unity's deposits are insured by the Federal Deposit Insurance Corporation. The bank has 14 full-service branches located in Philadelphia, Bucks and Montgomery counties. The bank's corporate headquarters is located in Lafayette Hill.
 HOME UNITY SAVINGS BANK, PaSA
 Operation Highlights
 (Unaudited; dollar amounts in thousands)
 Three months ended March 31 1992 1991
 Total interest income $14,651 $20,558
 Total interest expense 10,894 15,558
 Net interest income 3,757 5,000
 Provision for loan losses 90 2,180
 Net interest income after
 provision for loan losses 3,667 2,820
 Other income
 Total net interest income
 and other income 4,061 3,523
 Other expenses:
 General and administrative 3,824 3,812
 Real estate owned losses 50 296
 Amortization of intangible assets -- 198
 Total other expenses 3,874 4,306
 Income (loss) before income taxes 187 (783)
 Income tax expense 2 12
 Net income (loss) 185 (795)
 (Unaudited; dollars in thousands, except for per-share amounts)
 Three months ended March 31 1992 1991
 Earnings (loss) per share:
 Net income (loss) $.08 ($.33)
 Weighted average number of
 shares outstanding 2,396,925 2,396,925
 Financial condition (000s) March 31, 1992 Dec. 31, 1991
 (Unaudited)
 Total assets $684,122 $722,911
 Total loans 551,280 575,220
 Total deposits 629,542 644,819
 /delval/
 -0- 5/15/92
 /CONTACT: Michael C. Rush of Home Unity Savings Bank, 215-825-8900/
 (HUSB) CO: Home Unity Savings Bank, PaSA ST: Pennsylvania IN: FIN SU: ERN


CC-KA -- PH026 -- 0834 05/15/92 14:50 EDT
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Date:May 15, 1992
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