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PIONEER BANCORP REPORTS SECOND QUARTER 1992 RESULTS

 PIONEER BANCORP REPORTS SECOND QUARTER 1992 RESULTS
 FULLERTON, Calif., July 21 /PRNewswire/ -- Pioneer Bancorp, the


holding company for Pioneer Bank, reported that total assets for the quarter ended June 30, 1992, were $215,086,000, a 5 percent increase over the $205,145,000 reported at the end of the second quarter 1991. Total deposits rose 6 percent to $198,616,000 compared to $187,367,000 the previous year, while total net loans decreased 3 percent to $163,775,000 from $168,476,000.
 Consolidated net income for the quarter was off 49 percent at $311,000. Net income for the first six months declined 41 percent to $694,000. Revenue totaled $4,735,000 for the quarter, a decrease of 16 percent from $5,610,000 for the previous year's second quarter. The decreases in revenues and net income were the result of lower interest rates, fewer loans and margins on earning assets stemming from the current state of the economy.
 -0- 7/21/92
 /CONTACT: Richard B. Boyle, president and CEO of Pioneer Bancorp, 714-773-0600/ CO: Pioneer Bancorp ST: California IN: FIN SU: ERN


AL-CH -- LA001 -- 1185 07/21/92 10:00 EDT
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Publication:PR Newswire
Date:Jul 21, 1992
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