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LA GRANGE FEDERAL SAVINGS AND LOAN SUCCESSFULLY COMPLETES CONVERSION

LA GRANGE FEDERAL SAVINGS AND LOAN SUCCESSFULLY COMPLETES CONVERSION
 LA GRANGE, Ill., June 18 /PRNewswire/ -- LaGrange Federal Savings and Loan has successfully completed its conversion from a mutual to stock company. As part of the conversion, its newly formed holding company, LGF Bancorp, Inc. (NASDAQ: LGFB), sold 1,851,500 shares of common stock at $10.00 per share in a subscription and community offering. The offering was managed by Capital Resources Inc., a Washington, D.C. investment banking firm specializing in thrift conversion. The stock conversion was legally consummated on June 18, 1992.
 The stock offering was oversubscribed by members of LaGrange Federal. "We are extremely pleased with the results of the stock offering," stated J. Edward Weishel, president of LaGrange Federal. "We believe the response to the offering is attributable to strong confidence in LaGrange Federal and in the communities we serve. We are extremely pleased with the response from the community and proud that so many local people are now LGF Bancorp stockholders."
 LGF Bancorp, Inc.'s stock is listed on the NASDAQ National Market System. LGF Bancorp, Inc., stock can be purchased or sold through any stockbroker.
 LaGrange Federal will continue to make local loans and offer a variety of deposit accounts. Weishel states, "It's business as usual, we will continue to be a local association serving the needs of our customers. Now, many of these same customers are also charter stockholders of our parent company, LGF Bancorp, Inc."
 LaGrange Federal, with assets of $392 million as of March 31, 1992, is headquartered in LaGrange. The association operates four offices in the southwest Chicago suburbs. The association's deposits are insured by the Federal Deposit Insurance Corporation up to the applicable legal limits.
 -0- 6/18/92
 /CONTACT: J. Edward Weishel, president and chief executive officer of LaGrange Federal Savings and Loan and LGF Bancorp, Inc., 708-352-3671/ CO: LaGrange Federal Savings and Loan ST: Illinois IN: FIN SU:


AH -- NY049 -- 1557 06/18/92 14:01 EDT
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Publication:PR Newswire
Date:Jun 18, 1992
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