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NFS FINANCIAL CORPORATION REPORTS BETTER 1991 PERFORMANCE

 NFS FINANCIAL CORPORATION REPORTS BETTER 1991 PERFORMANCE
 NASHUA, N.H., Jan. 30 /PRNewswire/ -- NFS Financial Corporation (NASDAQ: NFSF) reports a net loss of $2,666,000, or 97 cents per share for 1991 compared with a net loss of $12,003,000, or $4.35 per share for 1990.
 The company said its net loss for the fourth quarter was $591,000, or 22 cents per share compared with a net loss of $11,083,000, or $4.02 per share, for the fourth quarter of 1990.
 James H. Adams, president/CEO of NFS said, "While I'm pleased we were able to trim our losses significantly in 1991, the current operating environment is still troubled. There's uncertainty about the area economy, particularly joblessness and property values. We hope there's a definite turnaround in 1992."
 Adams noted that NFS maintained a conservative posture in reserving against loan problems last year. "We added $6.0 million to our provision for loan losses in 1991 which increased our Dec. 31, 1991 reserve coverage to 55.2 percent of nonperforming loans vs. 50.0 percent at the end of 1990.
 NFS said nonperforming loans at the end of 1991 were $17.2 million, down from $23.1 million at the end of 1990. Foreclosed real estate amounted to $9.2 million at Dec. 31, 1991, up from $7.9 million at Dec. 31, 1990.
 The ratio of nonperforming loans to total loans at NFS was 5.01 percent at Dec. 31, 1991, an improvement from 6.24 percent at Dec. 31, 1990. Nonperforming assets to total assets also improved in 1991 and were 5.12 percent of total assets at the end of 1991 vs. 6.19 percent a year earlier.
 The company's equity to assets ratio of 7.5 percent at Dec. 31, 1991 exceeded all regulatory capital requirements.
 NFS FINANCIAL CORPORATION
 Selected Financial Data
 FINANCIAL CONDITION: 12/31/91 12/31/90 12/31/89
 (Dollars in Thousands)
 Total assets $517,032 $501,024 $511,098
 Total loans 343,534 369,983 382,777
 Mortgage-backed
 securities 37,585 24,379 27,248
 Cash and investments 120,093 95,241 84,265
 Deposits 433,886 402,891 390,689
 Notes Payable 40,161 53,132 62,029
 Stockholders' equity 38,807 41,409 53,847
 Loan originations &
 purchases (YTD) 69,942 67,999 70,607
 Nonperforming loans 17,215 23,079 9,384
 Allowance for possible
 loan losses 9,498 11,533 1,676
 Foreclosed Real Estate 9,249 7,944 3,485
 Total Nonperforming Assets 26,464 31,023 12,869
 OPERATING RESULTS:
 Year To Date Ended: 12/31/91 12/31/90 12/31/89
 Net interest income $13,680 $13,270 $13,040
 Provision for possible
 loan losses 5,960 13,683 1,450
 Loan Servicing Fees 517 542 467
 Gain (loss) on Investments 0 (84) 76
 Gain (loss) on MBS's
 and loans 238 (214) (88)
 Other non-interest income 948 981 1,084
 Non-interest expenses 11,331 11,693 9,834
 Income (loss) before taxes (1,908) (10,881) 3,295
 Income taxes 758 1,122 1,391
 Net income (loss) (2,666) (12,003) 1,904
 OPERATING AND
 PERFORMANCE RATIOS: 12/31/91 12/31/90 12/31/89
 Return on avg.
 assets (YTD) NA NA 0.37 pct
 Return on avg. equity (YTD) NA NA 3.55 pct
 Yield on earning
 assets (YTD) 9.27 pct 10.09 pct 10.20 pct
 Cost of deposits and
 borrowings (YTD) 6.52 pct 7.39 pct 7.57 pct
 Net interest margin (YTD) 2.75 pct 2.70 pct 2.63 pct
 Stockholders' equity/total
 assets 7.51 pct 8.26 pct 10.54 pct
 Nonperforming loans/
 total loans 5.01 pct 6.24 pct 2.45 pct
 Allowance for loan losses/
 nonperforming loans 55.17 pct 49.97 pct 17.86 pct
 Net charge-offs/total
 loans 2.33 pct 1.03 pct 0.26 pct
 Nonperforming assets/
 total assets 5.12 pct 6.19 pct 2.52 pct
 Average earning assets/
 average interest
 bearing liabilities 107.75 pct 108.32 pct 109.27 pct
 STOCK PERFORMANCE
 INDICATORS: 12/31/91 12/31/90 12/31/89
 Common shares
 outstanding 2,761,367 2,761,367 2,761,367
 Closing price $3.75 $2.50 $6.25
 Book value $14.05 $15.00 $19.50
 Price/book value 26.69 pct 16.67 pct 32.05 pct
 Earnings (loss)
 per share (YTD) (97 cents) $(4.35) 67 cents
 Dividends per share (YTD) 0.00 cents 21 cents 28 cents
 Dividend payout ratio (YTD) NA NA 41.79 pct
 Price/Earnings (Annualized) NA NA 9.33
 -0- 1/30/92
 /CONTACT: David A. Sobe or Albert R. Rietheimer, 603-880-2011, of NFS Financial Corp./ CO: NFS Financial Corp. ST: New Hampshire IN: FIN SU: ERN


EG-TM -- NE002 -- 5122 01/30/92 09:47 EST
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Date:Jan 30, 1992
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