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PRIME BANCORP, INC. DECLARES QUARTERLY DIVIDEND

 PHILADELPHIA, June 28 /PRNewswire/ -- The board of directors of Prime Bancorp, Inc. (NASDAQ-NMS: PSAB), the holding company of Prime Bank, has declared a cash dividend of 13 cents per share payable on Aug. 1, 1993, to shareholders of record on July 5.
 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 June 25, 1993, was $15.88.
 President and CEO Erwin T. Straw commented once again on the name change of its principal subsidiary "Prime Savings Bank, fsb." Its name has been shortened to "Prime Bank." Straw said this name change sends a strong signal that Prime is a full-service bank serving the banking needs of commercial and individual customers. Prime Bank, however, will retain its legal status as a federally chartered savings bank which is insured by the Savings Association Insurance Fund (SAIF), and administered by the Federal Deposit Insurance Corporation (FDIC).
 Prime Bank conducts business at 11 locations in Philadelphia, Bucks and Montgomery counties. The Jenkintown office was successfully opened on June 14, 1993.
 Prime Bancorp, Inc., the parent company, reported record earnings of $2.4 million for the first quarter of 1993 and had total assets of $394,826,915, total deposits of $331,401,472, and total net loans of $290,737,317 as of the close of business March 31, 1993.
 /delval/
 -0- 6/28/93
 /CONTACT: Erwin T. Straw, president and CEO of Prime Bancorp, 215-742-5300/
 (PSAB)


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

CC-MP -- PH008 -- 6217 06/28/93 11:53 EDT
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Publication:PR Newswire
Date:Jun 28, 1993
Words:271
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