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PARK VIEW FEDERAL SAVINGS BANK REPORTS QUARTERLY EARNINGS

 CLEVELAND, July 26 /PRNewswire/ -- Park View Federal Savings Bank (NASDAQ: PVSB) announced earnings of $672,477 or $.79 per share for the quarter ended June 30, 1993. For the four quarters ending June 30, 1993, year to date earnings were $2.503 million.
 Park View Federal completed its conversion from a mutual savings and loan association to a stock savings bank on Dec. 30, 1992, raising $8.1 million of new capital. At Dec. 31, 1992, Park View reported assets of $188.7 million and total capital of $10.5 million.
 As of June 30, 1993, Park View Federal reported assets of $193.2 million and total capital of $11.848 million. At June 30, 1993, Park View's tangible and core capital ratios were 5.71 percent and 5.71 percent surpassing the regulatory requirement of 1.5 percent and 3.0 percent. In addition, Park View Federal's risk based capital level was 10.92 percent, well in excess of the current requirement of 8.0 percent.
 Park View Federal's common stock trades on the NASDAQ Small-Cap market under the symbol PVSB.
 SUMMARY OF FINANCIAL HIGHLIGHTS
 CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
 (Unaudited)
 (Dollars in thousands) June 30, June 30,
 1993 1992
 ASSETS
 Cash and cash equivalents $ 16,219 $ 12,884
 Investment securities 7,489 16,480
 Loans and mortgage backed securities 164,374 163,412
 Other assets 5,207 5,606
 Total Assets $193,289 $198,382
 LIABILITIES
 Deposits $170,616 $181,751
 Borrowed money 2,560 7,835
 Other liabilities 8,265 7,527
 Total Liabilities 181,441 197,113
 Total Stockholders' Equity 11,848 1,269
 Total Liabilities and Stockholders' Equity $193,289 $198,382
 CONSOLIDATED STATEMENTS OF OPERATIONS
 (Unaudited)
 (Dollars in thousands Three Months Ended Twelve Months Ended
 except per share data) June 30, June 30,
 1993 1992 1993 1992
 Interest income 3,771 4,095 15,503 18,642
 Interest expense 1,885 2,608 8,531 12,290
 Net interest income 1,886 1,487 6,972 6,352
 Provision for (recovery
 of) loan losses 0 (128) 168 1,052
 Net interest income after
 provision for (recovery
 of) loan losses 1,886 1,615 6,804 5,300
 Total noninterest income 617 321 2,468 2,189
 Total noninterest expense 1,499 1,274 5,622 5,570
 Income before federal income
 tax provision and
 extraordinary item 1,004 662 3,650 1,919
 Federal income tax
 provision 332 326 1,147 927
 Income before
 extraordinary item 672 336 2,503 992
 Extraordinary item:
 Benefit of tax loss
 carryforward 0 139 0 472
 Net income $672 $475 $2,503 $1,464
 Per share earnings on
 common stock $0.79 NA NA NA
 -0- 7/26/93
 /CONTACT: C. Keith Swaney of Park View Federal Savings Bank, 216-439-2200/
 (PVSB)


CO: Park View Federal Savings Bank ST: Ohio IN: FIN SU: ERN

AR -- CL005 -- 5638 07/26/93 11:06 EDT
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Date:Jul 26, 1993
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