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PRIME BANCORP DECLARES QUARTERLY DIVIDEND

 PRIME BANCORP DECLARES QUARTERLY DIVIDEND
 PHILADELPHIA, June 19 /PRNewswire/ -- The board of directors of


Prime Bancorp, Inc. (NASDAQ-NMS: PSAB), the holding company of Prime Savings Bank, fsb, today announced a 9.1 percent increase in the quarterly dividend from 11 cents a share to 12 cents a share, payable on Aug. 1, 1992, to shareholders of record on July 3.
 President and Chief Executive Officer Erwin T. Straw said, "We are pleased to be able to announce yet another dividend increase. Our new 12 cents dividend is well supported by growing earnings and a strong capital position."
 Prime's last reported earnings of $1.058 million were for the first quarter of 1992. For that quarter ROA was 1.17 percent, net interest income was 4.40 percent and Prime's non-performing asset ratio was only 1.14 percent. Prime's equity to asset ratio was 11.77 percent on March 31, 1992.
 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 yesterday was $12.75 per share.
 Prime Bancorp, Inc. is headquartered in Philadelphia. Prime Savings Bank, fsb, is a federally chartered Savings Bank. The bank has nine offices in Philadelphia, Bucks and Montgomery counties. Prime had total assets of $357.7 million on March 31, 1992. Deposits are insured by the Savings Association Insured Fund (SAIF) which is managed by the Federal Deposit Insurance Corporation (FDIC).
 /delval/
 -0- 6/19/92
 /CONTACT: Erwin T. Straw, president and CEO of Prime Bancorp, 215-742-5300/
 (PSAB) CO: Prime Bancorp, Inc. ST: Pennsylvania IN: FIN SU: DIV


MK-LJ -- PH023 -- 1908 06/19/92 12:03 EDT
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Publication:PR Newswire
Date:Jun 19, 1992
Words:277
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