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LOYOLA TO SELL HAGERSTOWN BRANCH TO FIRST FEDERAL SAVINGS BANK OF WESTERN MARYLAND

 LOYOLA TO SELL HAGERSTOWN BRANCH TO
 FIRST FEDERAL SAVINGS BANK OF WESTERN MARYLAND
 BALTIMORE, July 6 /PRNewswire/ -- Loyola Capital Corporation (NASDAQ: LOYC), parent company of Loyola Federal Savings Bank, and First Financial Corporation of Western Maryland, parent company of First Federal Savings Bank of Western Maryland, announced today preliminary agreement for Loyola to sell its Hagerstown, Md., banking center and deposits to First Federal.
 First Federal has assets of approximately $340 million and 11 banking offices in Western Maryland. Loyola has approximately $1.9 billion in assets and 34 banking centers in Maryland and Washington, D.C. Both Loyola and First Federal meet all federal capital standards. The sale is contingent upon approval by the Office of Thrift Supervision and, if approved, should be consummated sometime this year.
 Joseph W. Mosmiller, Loyola's chairman and chief executive officer, said, "The Hagerstown Banking Center was Loyola's only office west of Frederick, Maryland. Its sale reflects Loyola's desire to concentrate its banking centers in the Baltimore-Washington corridor and the Eastern Shore of Maryland."
 Richard Deckerhoff, chairman and chief executive officer of First Federal, expressed First Federal's pleasure at acquiring its first banking office in Hagerstown, a market closely related to that of Cumberland.
 -0- 7/6/92
 /CONTACT: Joseph Mosmiller, CEO of Loyola Federal Savings Bank, 410-332-7060, or Richard Deckerhoff, CEO of First Federal Savings Bank of Western Maryland, 301-724-3363/
 (LOYC) CO: Loyola Capital Corporation; First Federal Savings Bank of Western
 Maryland ST: Maryland IN: FIN SU:


MK-MJ -- PH012 -- 6692 07/06/92 15:00 EDT
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Publication:PR Newswire
Date:Jul 6, 1992
Words:253
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