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SECOND NATIONAL'S JANUARY REAL ESTATE SALES TOP $5.3 MILLION

 SECOND NATIONAL'S JANUARY REAL ESTATE SALES TOP $5.3 MILLION
 ANNAPOLIS, Md., Feb. 11 /PRNewswire/ -- Second National Federal Savings Bank (NASDAQ: SNLB) announced January sales of foreclosed commercial and real estate properties totaling $5.34 million. Properties include a $1.5 million beach resort motel in Dewey Beach, Del., and a $1.08 million Georgetown luxury residence in Washington.
 As previously announced, the company plans to dispose of $50 million of real estate owned properties and non-accrual loans in 1992 or about $1 million per week.
 "With January sales exceeding our monthly target, Second National is ahead of the pace necessary to achieve material reduction of non-performers over the next 12 months," said Henry A. Berliner Jr., president.
 Second National is a $1.7 billion financial institution with offices in Maryland, Delaware, Pennsylvania, Virginia and the District of Columbia
 -0- 2/11/92
 /CONTACT: Henry A. Berliner Jr., president and CEO, 410-266-9200 ext. 201, or 800-888-5100; or William T. Russell III, chief financial officer, 410-749-8415 ext. 350, or 800-284-2628, both of Second National/
 (SNLB) CO: Second National Federal Savings Bank ST: Maryland IN: FIN SU: RLE


TW -- DC020 -- 8943 02/11/92 16:23 EST
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Publication:PR Newswire
Date:Feb 11, 1992
Words:195
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