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LAUREL SAVINGS ASSOCIATION DECLARES QUARTERLY DIVIDEND

 ALLISON PARK, Pa., Oct. 22 /PRNewswire/ -- The board of directors of Laurel Savings Association (NASDAQ: LARL) Thursday declared a regular quarterly dividend of $0.08 per share on the association's common stock. The dividend is payable Nov. 15, 1993, to stockholders of record Nov. 1, 1993.
 In commenting on the dividend, Edwin R. Maus, president and chief executive officer, stated, "The declaration of Laurel Savings' regular quarterly dividend actually represents a 25 percent increase in the cash payout per share on a pre-split basis compared to the dividend declared in October of 1992. Having completed a previously announced 5-for-4 stock split effective Aug. 19, 1993, the association is maintaining its dividend level on the newly issued shares." Maus continued, "The board's decision to retain the payout level of $.08 per share is a reflection of the association's strong financial position and excellent operating performance." This is the 25th consecutive cash dividend paid by the association since converting to a publicly held institution in 1987.
 Laurel Savings Association is a 106-year-old, Pennsylvania-chartered, SAIF-insured savings association with six offices in Allegheny and Butler counties.
 /delval/
 -0- 10/22/93
 /CONTACT: Edwin R. Maus, president & CEO of Laurel Savings, 412-487-7404/
 (LARL)


CO: Laurel Savings Association ST: Pennsylvania IN: FIN SU: ERN

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Publication:PR Newswire
Date:Oct 22, 1993
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