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STOCK ISSUANCE ANNOUNCED

 STOCK ISSUANCE ANNOUNCED
 ARLINGTON, Va., June 2 /PRNewswire/ -- Columbia First Bank, a


Federal Savings Bank (NASDAQ-NMS: CFFS) reported that, pursuant to the Stock Purchase Agreement ("Agreement") between Columbia First Bank, a Federal Savings Bank, and CF Financial Associates L.P. ("CF Financial"), dated Nov. 28, 1988, and amended on Jan. 23, 1989, and June 29, 1989, CF Financial purchased 127,909 shares of common stock on June 1, 1992. The newly issued stock was purchased by CF Financial at $20.97 per share, resulting in an addition to Columbia First's capital of $2.7 million. The Agreement between Columbia First and CF Financial called for the stock to be issued at $22 per share on Dec. 31, 1992; however, a 4.67 percent discount was negotiated between Columbia First and CF Financial because of the early funding of the stock purchase. Columbia First exceeded all current and fully phased-in federal capital requirements both before and after this stock issuance.
 Columbia First has total assets of $2.2 billion and operates 28 branches and three loan origination offices throughout Virginia, Maryland and the District of Columbia. Deposits in Columbia First are insured to $100,000 by FDIC.
 -0- 6/2/92
 /CONTACT: Robert J. Creighton, senior vice president-finance, Columbia First Bank, 703-247-5090.
 (CFFS) CO: Columbia First Bank, a Federal Savings Bank; CF Financial
 Associates L.P. ST: Virginia IN: FIN SU:


TW -- DC004 -- 6118 06/02/92 10:02 EDT
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Publication:PR Newswire
Date:Jun 2, 1992
Words:239
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