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JEFFERSON BANK & TRUST'S CUSTOMERS NOT AFFECTED BY RULING

 JEFFERSON BANK & TRUST'S CUSTOMERS NOT AFFECTED BY RULING
 LAKEWOOD, Colo., Jan. 23 /PRNewswire/ -- Jefferson Bank & Trust's customers are not affected by a Federal judge's ruling today on a suit filed by Iowa Trust against the bank.
 "Our money is safe and the ruling has no immediate impact on the bank," said Mo Grotjohn, chairman, president and chief executive officer of Jefferson Bank & Trust. "The court has ruled that we set aside a portion of our assets that were previously managed by the investment adviser, Institutional Treasury Management, in interest- bearing government backed securities until the legal issues can be resolved. The money will continue to earn interest."
 Grotjohn explained that once all the facts are uncovered in the complex transactions, the issue will be resolved in the bank's favor. "The assets for which Institutional Treasury Management served as an investment adviser were U.S. Treasury Securities, ensuring liquidity and safety," Grotjohn said. In addition, this morning, the Iowa Insurance Commissioner pledged his support to Jefferson Bank & Trust, and will supply JBT with all information obtained from the S.E.C.
 Founded in 1945, Jefferson Bank & Trust continues to operate safely and profitably, exceeding all regulatory capital requirements with FDIC insurance continually in force since it opened.
 -0- 1/23/92
 /CONTACT: Mo Grotjohn of Jefferson Bank & Trust, 303-233-6561/ CO: Jefferson Bank & Trust ST: Colorado IN: FIN SU:


MC -- DV010 -- 2902 01/23/92 14:47 EST
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Publication:PR Newswire
Date:Jan 23, 1992
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