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METRO BANCSHARES INC. SECURES LISTING ON THE AMERICAN STOCK EXCHANGE

METRO BANCSHARES INC. SECURES LISTING ON THE AMERICAN STOCK EXCHANGE
 NEW YORK, Sept. 21 /PRNewswire/ -- Metro Bancshares Inc., of Jericho, New York, today joined the growing number of financial institutions listed on the American Stock Exchange. Trading under ticker symbol "MTO", the company's common stock opened at 11:30 a.m. Eastern Daylight Time at 14-1/2 on 1300 shares. The stock previously traded on NASDAQ's NMS. The company has chosen Kalb, Voorhis & Company as its specialist unit.
 Through its wholly owned subsidiary, Bayside Federal Savings Bank, Metro Bancshares Inc. is primarily a one-to-four-family residential and multi-family real estate lender.
 "We are very excited about listing on the American Stock Exchange. We believe the listing will provide our company with better visibility in the financial markets and improve the quality of trading," said David G. Herold, chief executive officer of Metro Bancshares.
 For the fiscal nine months ended June 30, 1992, Metro Bancshares realized a net income of $5,569,000, up from $4,127,000 for the comparable period 1991. Earnings per common share rose to $2.39 for the nine months ended June 30, 1992, compared with $1.79 for the same nine months 1991.
 The American Stock Exchange is committed to becoming the recognized, premier marketplace for growth companies and derivative securities. By responding to listed company needs and initiating quality services, the Amex finds innovative ways to add value to the expanding community of companies and investors it serves.
 -0- 9/21/92
 /CONTACT: Paul Nobile, manager of Equities Communications, 212-306-2028/
 (MTO) CO: Metro Bancshares Inc. ST: New York IN: FIN SU:


TS -- NY056 -- 1691 09/21/92 12:49 EDT
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Publication:PR Newswire
Date:Sep 21, 1992
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