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LOAN AMERICA'S THIRD QUARTER NET TRIPLES TO RECORD $1.7 MILLION; NINE-MONTH EARNINGS OF $4.5 MILLION ALSO REACH NEW HIGH MARK

 LOAN AMERICA'S THIRD QUARTER NET TRIPLES TO RECORD $1.7 MILLION;
 NINE-MONTH EARNINGS OF $4.5 MILLION ALSO REACH NEW HIGH MARK
 MIAMI LAKES, Fla., Nov. 4 /PRNewswire/ -- Loan America Financial Corporation (NASDAQ-NMS: LAFCB), a publicly owned residential mortgage banking firm, attained record high third quarter net earnings that were more than three times its net for the same quarter last year.
 Loan America reported net earnings of $1,719,791, or $.63 per share, on total revenues of $10,603,525 for the three months ended Sept. 30, 1992, compared to net earnings of $501,440, or $.19 per share, on total revenues of $7,428,755 for the same quarter of 1991.
 For the nine months ended Sept. 30, 1992, Loan America reported record high net earnings of $4,477,946, or $1.67 per share, on total revenues of $32,442,265, compared to net earnings of $588,775, or $.19 per share, on total revenues of $19,873,263 for the same period of 1991.
 All per share earnings have been adjusted for the 10 percent common stock dividend paid by Loan America on May 26, 1992.
 Total loan production for the third quarter was $695 million, compared to $386 million for the same quarter last year. For the nine months, total loan production this year was $2.3 billion, compared to $1.3 billion last year.
 In announcing the earnings, President John S. Kuczwanski stated, "Our year-to-date loan volumes are 71 percent higher than a year ago and our net earnings obviously reflect this gain. The nine-month net of $4.5 million is already far above our entire annual earnings for the previous best year in the company's history."
 Loan America's residential mortgage servicing portfolio totaled $3.6 billion as of Sept. 30, 1992, compared to $3 billion a year ago.
 Loan America is a publicly owned company traded on the NASDAQ National Market System under the symbol LAFCB.
 LOAN AMERICA FINANCIAL CORPORATION
 FOR THE QUARTER ENDED SEPT. 30, 1992
 Three Months Ended
 Sept. 30,
 1992 1991
 Revenues:
 Loan Production and Sales $ 5,610,659 $ 2,646,300
 Loan Administration Fees 2,801,935 2,567,748
 Interest Earned 3,477,076 2,830,230
 Interest Charges (2,008,355) (1,638,780)
 Gain on Sale of Servicing 689,121 991,361
 Other 33,089 31,860
 Total Revenues 10,603,525 7,428,755
 Total Expenses 7,840,379 6,624,782
 Income Before Income Taxes 2,763,146 803,973
 Provision for Income Taxes 1,043,355 302,533
 Net Income $ 1,719,791 $ 501,440
 Earnings Per Common Share: (A)
 Primary $ .63 $ .19
 Fully Diluted $ .60 $ .18
 Weighted Average Shares of
 Common and Common Equivalent
 Shares Outstanding: (A)
 Primary 2,618,143 2,243,226
 Fully Diluted 2,821,221 2,580,140
 Total Loan Production $ 694,886,000 $ 385,872,000
 Nine Months Ended
 Sept. 30,
 1992 1991
 Revenues:
 Loan Production and Sales $ 15,245,851 $ 5,514,029
 Loan Administration Fees 8,133,829 7,792,018
 Interest Earned 13,503,995 9,459,248
 Interest Charges (8,072,518) (6,000,679)
 Gain on Sale of Servicing 3,566,208 2,989,019
 Other 64,900 119,628
 Total Revenues 32,442,265 19,873,263
 Total Expenses 25,256,881 18,929,083
 Income Before Income Taxes 7,185,384 944,180
 Provision for Income Taxes 2,707,438 355,405
 Net Income $ 4,477,946 $ 588,775
 Earnings Per Common Share: (A)
 Primary $ 1.67 $ .19
 Fully Diluted $ 1.57 $ .19
 Weighted Average Shares of
 Common and Common Equivalent
 Shares Outstanding: (A)
 Primary 2,568,571 2,190,722
 Fully Diluted 2,783,146 2,190,722
 Total Loan Production $2,277,786,000 $1,332,260,000
 At Sept. 30:
 1992 1991
 Mortgage Servicing
 Portfolio $3,550,000,000 $2,965,000,000
 Stockholders' Equity $ 24,640,709 $ 19,361,967
 (A) -- Adjusted for 10 percent common stock dividend paid on May 26,
 1992.
 -0- 11/4/92
 /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 Corp./
 (LAFCB) CO: Loan America Financial Corporation ST: Florida IN: FIN SU: ERN


JB-AW -- FL003 -- 2383 11/04/92 10:23 EST
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