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JEFFERSON BANCORP REPORTS INCREASE IN OPERATING INCOME FOR THE SIX MONTHS AND THE QUARTER ENDED JUNE 30, 1992

 JEFFERSON BANCORP REPORTS INCREASE IN OPERATING INCOME
 FOR THE SIX MONTHS AND THE QUARTER ENDED JUNE 30, 1992
 MIAMI BEACH, Fla., July 15 /PRNewswire/ -- Jefferson Bancorp, Inc. (NASDAQ: JBNC), a publicly held bank holding company headquartered in Miami Beach, today reported a substantial increase in consolidated operating income for the six months and the quarter ended June 30, 1992 over the comparable periods in 1991. The company also announced an increase in stockholders' equity and book value per common share for the same periods.
 Consolidated operating income for the six months ended June 30, 1992 was $803,805 compared to $169,437 for the same period in 1991, an increase of 374 percent. Per share operating income increased from $.05 to $.24 in the same period, an increase of 380 percent. Consolidated net income for the six months ended June 30, 1992 was $1,806,362 compared to $530,155 for the same period in 1991, an increase of 241 percent. Per share net income increased from $.16 per share to $.53 in the same period, an increase of 231 percent. Consolidated net income for the six months ended June 30, 1992 included a $1,002,557 profit from security transactions net of income taxes while the securities profit in 1991 was $360,718 net of income taxes.
 Consolidated operating income for the quarter ended June 30, 1992 was $572,753, compared to $348,682 for the same period in 1991, an increase of 64 percent. Per share operating income increased from $.10 to $.17 in the same period, an increase of 70 percent. Consolidated net income for the quarter ended June 30, 1992 was $673,367 compared to $658,593 for the same period in 1991. Though the consolidated net income for 1992 reflected an increase, the per share income remained at $.20. Consolidated net income for the quarter ended June 30, 1992 included a $100,614 profit from security transactions, net of income taxes while the securities profit in 1991 was $309,911 net of income taxes.
 Six month figures shown for 1991 have been restated to reflect a regulatory charge-off of $816,000 ($523,316 net of income taxes) involving the banks' portfolio of revenue bonds issued by an agency of the state of Nebraska; the charge-off had previously been reflected, instead, the third and fourth quarters.
 Consolidated assets decreased to $360,805,298 as of June 30, 1992 from $374,154,473 a year earlier. Consolidated deposits decreased to $304,270,104 as of June 30, 1992 from $307,319,999 a year earlier. Over the same period, consolidated net loans decreased to $194,587,968 from $219,290,445. The company continued to maintain its conservative posture during these uncertain economic times by increasing the loan loss reserve from $1,737,741 as of June 30, 1991 to $2,472,096 as of June 30, 1992. The addition to the loan loss reserve during the quarter ended June 30, 1992 was $575,000, as compared to $350,000 during the comparable period in 1991.
 Stockholders' equity and book value per share as of June 30, 1992 increased to $35,579,136 and $10.55, respectively, from $33,956,074 and $10.15 per share as of June 30, 1991.
 Jefferson Bancorp, Inc. is a publicly held bank holding company which owns and operates three banks with 12 offices in Dade, Broward and Palm Beach counties. Jefferson Bancorp, Inc. has served South Florida since 1964 and has been named in The Miami Herald's list of Florida's top 100 companies for the last four consecutive years (1988, 1989, 1990 and 1991.
 -0- 7/15/92
 /CONTACT: Jacqueline H. Chiodo of Jefferson Bancorp, Inc., 305-535-9401/
 (JBNC) CO: Jefferson Bancorp, Inc. ST: Florida IN: FIN SU: ERN


AW-JB -- FL007 -- 9706 07/15/92 16:14 EDT
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Date:Jul 15, 1992
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