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OLYMPUS CAPITAL CORP. ANNOUNCES THIRD QUARTER 1993 RESULTS

 SALT LAKE CITY, Nov. 1 /PRNewswire/ -- Olympus Capital Corp. (NASDAQ-NMS: OLCC), parent company of Olympus Bank, a Federal Savings Bank, announced its unaudited consolidated financial results for the quarter ended Sept. 30, 1993.
 The company reported third quarter 1993 net income of $1,481,000, or $0.46 per share fully diluted, compared to net income of $556,000, or $0.22 per share fully diluted, for the third quarter of 1992. Most of the increase in quarterly results was attributable to net recoveries on loss provisions for loans and real estate owned of $21,000 in the third quarter of 1993, as compared to total provisions for losses of $1,439,000 for the same period in 1992. Nine-month earnings were $4,858,000, or $1.50 per share, compared to $1,807,000, or $0.71 per share, for the first nine months of 1992.
 Total assets as of Sept. 30, 1993, were $388,602,920, compared to $399,916,991 at Sept. 30, 1992. Nonperforming assets as of Sept. 30, 1993, were $8,372,000, as compared to $11,863,000 at Sept. 30, 1992.
 At Sept. 30, 1993, Olympus Bank's core capital was 8 percent of adjusted total assets, compared to 5.8 percent at Sept. 30, 1992. Risk- based capital was approximately 14 percent of risk weighted assets, compared to 10.2 percent at Sept. 30, 1992. Olympus continues to exceed all regulatory capital requirements.
 Olympus Bank opened two new branches during the third quarter and now has nine branches in Utah and Montana. Deposits are insured up to $100,000 by the FDIC.
 -0- 11/1/93
 /CONTACT: K. John Jones, Olympus, 801-325-1000/
 (OLCC)


CO: Olympus Capital Corp. ST: Utah IN: FIN SU: ERN

MF-JL -- LA037 -- 9289 11/01/93 16:00 EST
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Publication:PR Newswire
Date:Nov 1, 1993
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