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PRIME SHORTENS NAME

 PHILADELPHIA, June 9 /PRNewswire/ -- Prime Bancorp, Inc. (NASDAQ-NMS: PSAB) today announced that effective May 28, 1993, the name of its principal subsidiary, "Prime Savings Bank, fsb," has been shortened to "Prime Bank."
 The name change does not change the legal status of Prime as a federal savings bank.
 President and CEO Erwin T. Straw commented: "Prime Bank is still a federally chartered savings bank. However, the name change sends the message loudly and clearly that Prime is a full-service bank, able to serve the banking needs of both commercial and individual customers."
 Prime Bank presently conducts business at 10 branch locations in Northeast Philadelphia, Bucks County and Montgomery County. The bank expects shortly to open its 11th office at the Fox Pavilion in Jenkintown.
 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.
 /delval/
 -0- 6/9/93
 /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:

MP-MK -- PH022 -- 0205 06/09/93 13:49 EST
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Publication:PR Newswire
Date:Jun 9, 1993
Words:210
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