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LOYOLA CAPITAL POSTS SIGNIFICANTLY HIGHER EARNINGS; DECLARES DIVIDEND AND ANNOUNCES PLAN TO REPURCHASE ADDITIONAL SHARES

 LOYOLA CAPITAL POSTS SIGNIFICANTLY HIGHER EARNINGS;


DECLARES DIVIDEND AND ANNOUNCES PLAN TO REPURCHASE ADDITIONAL SHARES
 BALTIMORE, Jan. 22 /PRNewswire/ -- Loyola Capital Corporation (NASDAQ: LOYC), reported today sharply higher net income for the quarter and year ended Dec. 31, 1991.
 For the fourth quarter, net income of $2.9 million ($.66 per share) rose 224 percent over the fourth quarter of 1990. Net interest income of $16.4 million was up 24 percent over the comparable period.
 For the year ended Dec. 31, 1991, net income of $10.6 million ($2.35 per share), rose 51 percent. Net interest income for 1991 of $62.1 million reflected the positive impact of declining interest rates on Loyola's cost of funds.
 Loyola's board of directors declared a dividend of $.10 per share, payable March 31, 1992, to holders of record at the close of business on March 16. Loyola's Chairman Joseph W. Mosmiller, stated that the board's decision to institute a dividend reflects the corporation's strong capital position and confidence in its prospects. The board of directors also authorized the repurchase of an additional 200,000 shares of the corporation's stock. Since the inception of this program in 1989, 765,000 shares have been purchased. Mosmiller stated that book value per share has increased by approximately $3, directly as a result of this program. "When 1991 repurchases are combined with net income per share," Mosmiller stated, "book value per share increased by $3.71 for the year ended Dec. 31, 1991."
 Successful Regulatory Examination
 Mosmiller also announced today that Loyola's primary regulator, the Office of Thrift Supervision, concluded their safety and soundness examination of the corporation in December 1991, and as a result, no adjustments were imposed.
 Capital Ratio Solid
 At Dec. 31, stockholders' equity of $140.6 million represented 7 percent of assets. Loyola exceeded all capital regulatory requirements. Total assets at Dec. 31 were $2 billion, making Loyola Maryland's second largest savings institution.
 A detailed quarterly statistical report is available upon request.
 LOYOLA CAPITAL CORPORATION AND SUBSIDIARIES
 Consolidated Statements of Financial Condition
 (Unaudited; in thousands)
 Dec. 31, 1991 Dec. 31, 1990
 Assets:
 Cash and demand deposits $13,605 $18,930
 Money market investments 19,977 27,635
 Investment securities 43,916 24,849
 Mortgage-backed securities 132,557 135,056
 Loans receivable, net 1,667,070 1,759,545
 Ground rents owned, at cost 3,526 3,570
 Investments in real estate, net 68,025 57,470
 Federal Home Loan Bank of
 Atlanta stock, at cost 19,389 18,028
 Property and equipment, net 25,773 26,300
 Prepaid expenses and other assets 8,357 6,600
 Total 2,002,195 2,077,983
 Liabilities and stockholders' equity:
 Liabilities:
 Deposits $1,614,442 $1,565,800
 Notes payable and other borrowings 185,070 332,292
 Mortgage escrow accounts 21,901 21,605
 Drafts payable 21,705 14,360
 Accrued expenses and other liabilities 18,519 10,217
 Total liabilities 1,861,637 1,944,274
 Stockholders' equity:
 Common stock 424 454
 Additional paid-in capital 50,375 54,134
 Retained income -- substantially
 restricted 89,759 79,121
 Total stockholders' equity 140,558 133,709
 Total 2,002,195 2,077,983
 Book value per common share $33.18 $29.47
 Consolidated Statements of Income
 (Unaudited; in thousands, except per-share data)
 Periods ended Quarter 12 Months
 Dec. 31 1991 1990 1991 1990
 Interest income:
 Interest on loans receivable $41,090 $46,215 $171,210 $182,110
 Interest on mortgage-backed
 securities 2,764 2,911 11,156 11,688
 Interest on investments 1,808 2,755 8,933 11,047
 Total interest income 45,662 51,881 191,299 204,845
 Interest expense:
 Interest on deposits 25,262 30,135 109,864 120,326
 Interest on notes payable and
 other borrowings 3,962 8,537 19,306 35,403
 Total interest expense 29,224 38,672 129,170 155,729
 Net interest income 16,438 13,209 62,129 49,116
 Provision for loan losses 2,561 5,298 11,399 11,454
 Net interest income after
 provision for loan losses 13,877 7,911 50,730 37,662
 Non-interest income:
 Service fees on loans 2,013 1,900 7,435 6,779
 Service fees on deposits 267 134 843 487
 Gain on sales of loans, net 1,093 407 2,828 1,514
 Gain on sales of investment
 securities --- 3,008 --- 3,221
 Net income (loss) on real estate (292) (1,836) (432) 89
 Other 556 824 2,978 5,693
 Total non-interest income 3,637 4,437 13,652 17,783
 Non-interest expenses:
 Salaries and employee benefits 5,851 5,306 22,758 20,874
 Rent and other occupancy
 expenses 1,106 991 4,192 3,609
 Advertising 178 271 1,537 1,596
 Equipment expense 1,348 1,102 4,950 4,047
 Federal deposit insurance and
 fees 988 801 3,848 3,414
 Other operating expenses 2,648 2,060 8,420 7,689
 Total non-interest expenses 12,119 10,531 45,705 41,229
 Income before income taxes 5,395 1,817 18,677 14,216
 Income taxes 2,475 916 8,039 7,174
 Net income 2,920 901 10,638 7,042
 Net income per common share $.66 $.20 $2.35 $1.49
 Average shares of common stock
 and common stock equivalents
 outstanding 4,382,172 4,547,170 4,519,865 4,716,543
 -0- 1/22/92
 /CONTACT: James V. McAveney, executive vp of Loyola Capital, 410-332-7074/
 (LOYC) CO: Loyola Capital Corporation ST: Maryland IN: FIN SU: ERN


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