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ORIENTAL FEDERAL SAVINGS 'BANKS' ON THE AMERICAN STOCK EXCHANGE -- FIRST AMEX LISTING TO ORIGINATE FROM PUERTO RICO --

 ORIENTAL FEDERAL SAVINGS 'BANKS' ON THE AMERICAN STOCK EXCHANGE
 -- FIRST AMEX LISTING TO ORIGINATE FROM PUERTO RICO --
 NEW YORK, June 19 /PRNewswire/ -- The American Stock Exchange announced that Oriental Federal Savings Bank today became the first company from Puerto Rico to begin trading on the Amex. Trading its common stock under ticker symbol "OFB", the stock opened at 12 on 1,000 shares. The stock previously traded on NASDAQ's National Market System.
 Jose Fernandez, chairman of Oriental Federal Savings, said, "We are proud to be the first public company from Puerto Rico to list on the American Stock Exchange. Trading in the Amex auction market will provide our shareholders with better market quality while ensuring our visibility in the investment community." The company has selected Miceli-Van Caneghan as its specialist unit.
 With approximately $400 million in assets and seven branch offices, Oriental Federal Savings Bank is the fifth largest of nine thrift institutions based in Puerto Rico. Oriental Federal -- the only savings association in Puerto Rico that operates a trust department -- principally attracts public and commercial deposits for use in residential and commercial real estate loans, consumer loans, mortgage- backed securities and investment securities.
 Nine-month comparisons of Oriental Federal Savings Bank fiscal cycle, ended March 31, 1991 and 1992, show an increase in net income (interest) after provision for loan losses, from $5,351,000 to $8,414,000, respectively. Income before provisions for income taxes increased from $663,000 to $1,734,000 while total net income rose $804,000 from $663,000 to $1,467,000.
 An international securities institution with global reach, the American Stock Exchange maintains a technologically advanced trading facility, with significant new product development and expansion into world markets. The Exchange is committed to becoming the recognized, premier marketplace for growth companies and derivative securities.
 -0- 6/19/92
 /CONTACT: Paul Nobile of Amex, 212-306-2028/
 (OFB) CO: Oriental Federal Savings Bank ST: IN: FIN SU:


LR -- NY044 -- 1951 06/19/92 13:12 EDT
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Publication:PR Newswire
Date:Jun 19, 1992
Words:330
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