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RAILROADMEN'S ENDS YEAR WITH INCREASED EARNINGS; RECORD YEAR -- EARNINGS OVER $6 MILLION

 INDIANAPOLIS, Jan. 25 /PRNewswire/ -- Railroadmen's Federal Savings and Loan Association of Indianapolis (NASDAQ: RRMN) today reported earnings of $1,671,000 or $.82 per share for the quarter ended Dec. 31, 1992. This compares to $1,307,000 or $.66 per share for the same quarter in 1991.
 For the fiscal year ended Dec. 31, 1992, the Association posted earnings of $6,610,000 or $3.28 per share. This compares to $4,375,000 or $2.31 per share for fiscal 1991.
 "I couldn't be more pleased with the results of the quarter and year just ended. 1992 was a year in which our hard work paid off in the form of growth in several areas," said J.R. Kocher, chairman of the board and chief executive officer. "Earnings - the best indicator of the progress we've made - are up 51 percent over last year, fueled by growth in the mortgage loan portfolio." The Association doubled 1991 production figures, closing $222.1 million in mortgage loans in 1992. This represents purchases and refinances for nearly 3,000 families in greater Indianapolis.
 "This strong earnings performance has also allowed us to keep our capital levels well in excess of Federal regulations while we achieved asset growth," Kocher noted. Railroadmen's ended the year with $660.9 million in assets, up from $593.7 million at the end of 1991. Deposits held steady at just over $400 million all year.
 Last week the Association announced an increase in its quarterly dividend to recognize the company's overall outstanding performance since going public nearly six years ago. Shareholders of record on Feb. 3, 1993 will receive $.10 per share, up from $.075 per share for the previous six quarters.
 Railroadmen's operates 15 full service offices in the greater Indianapolis and Chicago areas.
 FINANCIAL HIGHLIGHTS
 Dollars in Thousands Except Per Share Data
 Operating Highlights
 Three Months Ended Twelve Months Ended
 12/31/92 12/31/91 12/31/92 12/31/91
 Net income before
 benefit of NOLs $ 1,671 $ 851 $ 6,124 $ 2,891
 Net income after
 benefit of NOLs 1,671 1,307 6,610 4,375
 Net income per common
 and common equivalent
 share before benefit
 of NOLs(A) .82 .43 3.04 1.50
 Net income per common
 and common equivalent
 share after benefit
 of NOLs(A) .82 .66 3.28 2.31
 Average outstanding
 shares (common and
 common equivalent)(A) 2,031 1,990 2,015 1,840
 Return on assets (pct) 1.02 .91 1.04 .82
 Return on equity 17.8 16.7 18.8 15.1
 BALANCE SHEET HIGHLIGHTS
 As of 12/31/92 As of 12/31/91
 Total assets $660,942 $593,716
 Loans and mortgage-backed
 securities 586,326 542,832
 Deposits 408,766 409,437
 Shareholders' equity 38,314 31,940
 Book value per common share(A) 19.47 16.42
 OTHER INFORMATION
 Market closing price 20.50 13.41
 Number of offices 15 15
 Dividends per share (annualized) .30 .30
 (A) 1991 data has been adjusted to reflect a 10 percent stock dividend paid in July 1992.
 -0- 1/25/93
 /CONTACT: Kay Neidlinger of Railroadmen's, 317-630-0599, or 800-822-8280, toll free in Indiana only/
 (RRMN)


CO: Railroadmen' Savings and Loan Association ST: Indiana IN: FIN SU: ERN

BM -- CL011 -- 8468 01/25/93 11:59 EST
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Date:Jan 25, 1993
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