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LOAN AMERICA'S ANNUAL EARNINGS REACH FIVE TIMES NET OF YEAR AGO; RESIDENTIAL MORTGAGE SERVICING PORTFOLIO RISES ABOVE $3.1 BILLION

 LOAN AMERICA'S ANNUAL EARNINGS REACH FIVE TIMES NET OF YEAR AGO;
 RESIDENTIAL MORTGAGE SERVICING PORTFOLIO RISES ABOVE $3.1 BILLION
 MIAMI LAKES, Fla., Feb. 27 /PRNewswire/ -- Loan America Financial Corporation (NASDAQ-NMS: LAFCB), one of Florida's largest residential mortgage banking firms, has reported net earnings of $1.3 million for 1991, more than five times the company's net earnings the previous year.
 Loan America reported net earnings of $1,324,695 ($.54 per share) on total revenues of $28,670,253 for its fiscal year ended Dec. 31, 1991, compared to net earnings of $254,164 ($.08 per share) on total revenues of $21,244,730 for fiscal 1990.
 Loan America's residential mortgage servicing portfolio rose above $3.1 billion as of Dec. 31, 1991, a gain of 16 percent over its $2.7 billion portfolio a year ago.
 Total home loans for 1991 were $1.9 billion, a 53 percent increase over its $1.3 billion for 1990.
 In announcing the earnings, John S. Kuczwanski, president of Loan America, stated, "Every major category of our revenues increased during 1991. The momentum created by lower interest rates and growing loan volumes has continued into 1992. Based upon early first quarter volumes, we expect this positive trend to continue."
 Loan America is a publicly owned company traded on the NASDAQ national market system under the symbol LAFCB.
 -0- 2/27/92
 /CONTACT: John S. Kuczwanski, president of Loan America Financial Corporation, 305-557-9282; or John K. Schulte of Schulte, Ross & Aguilar, 305-856-1442, for Loan America Financial Corporation/
 (LAFCB) CO: Loan America Financial Corporation ST: Florida IN: FIN SU: ERN


AW-SS -- FL006 -- 3207 02/27/92 11:09 EST
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Publication:PR Newswire
Date:Feb 27, 1992
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