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PRIME BANCORP, INC. DECLARES QUARTERLY AND SPECIAL DIVIDEND

 PHILADELPHIA, Sept. 16 /PRNewswire/ -- The board of directors of Prime Bancorp, Inc. (NASDAQ-NMS: PSAB), the holding company of Prime Bank, has declared a regular cash dividend of $.13 per share along with a special cash dividend of $.10 per share, both payable on Nov. 1, 1993, to shareholders of record on Oct. 3.
 Prime Bancorp, Inc.'s common stock is listed on the NASDAQ National Market System under the symbol "PSAB." Its price at the close of business on Sept. 15 was $18.
 President and CEO Erwin T. Straw commented: "Our bank's earnings are strong, growing and indicate the continued success of our community banking strategy. This additional cash dividend indicates our solid commitment to our shareholders."
 Prime Bancorp, Inc. is headquartered in Philadelphia. Prime Bank, the corporation's primary subsidiary, is a federally-chartered savings bank, which is insured by the Savings Association Insurance Fund ("SAIF"), which is administered by the Federal Deposit Insurance Corporation ("FDIC"). The bank conducts business at 12 locations in Philadelphia, Bucks, and Montgomery counties. Prime Bancorp, Inc. had total assets of $406.6 million, total deposits of $338.4 million, and total net loans of $292.8 million as of the close of business June 30, 1993. These totals were prior to its purchase of the $22.7 million Penn Treaty office from the Resolution Trust Corporation on Aug. 30, 1993.
 /delval/
 -0- 9/16/93
 /CONTACT: Erwin T. Straw of Prime Bancorp, 215-742-5300/
 (PSAB)


CO: Prime Bancorp, Inc. ST: Pennsylvania IN: FIN SU: DIV

JM-MJ -- NY060 -- 2758 09/16/93 14:58 EDT
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Publication:PR Newswire
Date:Sep 16, 1993
Words:258
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