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OLYMPUS CAPITAL CORP. ANNOUNCES SECOND QUARTER 1993 RESULTS

 SALT LAKE CITY, July 21 /PRNewswire/ -- Olympus Capital Corp. (NASDAQ-NMS: OLCC), parent company of Olympus Bank, AFSB, released its unaudited consolidated financial results on an after-tax basis for the three- and six-month periods ended June 30, 1993.
 The company reported net income for the six-month period ended June 30, 1993, of $3,377,000, as compared to net income of $1,250,000 for the same period in 1992, a 170 percent increase. The six-month earnings per share was $1.05 for 1993 as compared to $0.49 for 1992. For the company's second quarter ended June 30, 1993, reported net income was up 202 percent to $1,703,000, or $0.53 per share, as compared to $563,000, or $0.22 per share, for the second quarter of 1992.
 Provisions for losses (net of recoveries) for the six- and three- month periods ended June 30, 1993, were $74,000 and $157,000, respectively. For the same periods of 1992, provisions for losses were $641,000 and $61,000, respectiv.?
 Total assets at June 30, 1993, were $388,406,000 compared to $397,307,000 at June 30, 1992. Non-performing assets as of June 30, 1993, were $4,507,000 compared to $13,775,000 as of June 30, 1992.
 Capital for the company at June 30, 1993, totaled $30,449,000 as compared to $23,099,000 at June 30, 1992. Olympus Bank's core (leverage) capital ratio was 7.7 percent at June 30, 1993, compared to 5.81 percent at June 30, 1992. Olympus Bank's risk-based capital for the same periods was 13.7 percent and 9.9 percent, respectively.
 Olympus Bank operates seven branches in Utah and one in Montana. The bank recently received approval to establish a new branch at 5510 South 900 East, Murray, Utah, and will open July 26, 1993. Deposits are insured to $100,000 by the FDIC.
 -0- 7/21/93
 /CONTACT: K. John Jones of Olympus Capital, 801-325-1000/
 (OLCC)


CO: Olympus Capital Corp.; Olympus Bank, AFSB ST: Utah IN: FIN SU: ERN

EH-JB -- LA012 -- 3879 07/21/93 10:55 EDT
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Publication:PR Newswire
Date:Jul 21, 1993
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