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THE BOSTON FIVE REPORTS MORTGAGE PRODUCTION TOTALS

 BOSTON, March 15 /PRNewswire/ -- The Boston Five Bancorp Inc., (NASDAQ: BFCS), today reported that its subsidiary, The Boston Five Cents Savings Bank FSB, had residential mortgage production for the month and four months ending Feb. 28, 1993, totaling $58.9 million and $397.8 million, respectively. For the comparable periods in 1992 The Boston Five originated residential mortgages totaling $130.2 million and $471.5 million, respectively.
 During February, 1993, The Boston Five received residential mortgage applications totaling $108.2 million. This compares with applications totaling $190.5 million in February, 1992. The bank's experience has been that approximately 75 percent of mortgage applications subsequently become closed loan production.
 Established in 1825, The Boston Five is one of the largest savings banks headquartered in Massachusetts, with total assets of more than $1.6 billion. It services $3.9 billion in residential mortgages, of which more than $2.9 billion are serviced for investors. the Boston Five operates 15 loan offices in five New England states and conducts correspondent lending operations in 12 New England and Middle Atlantic states.
 -0- 3/15/93
 /CONTACT: Lynn McLaughlin of The Boston Five Cents Savings Bank, 617-742-6000 ext. 2106/
 (BFCS)


CO: The Boston Five Cents Savings Bank ST: Massachusetts IN: FIN SU:

TM -- NE016 -- 6232 03/15/93 16:51 EST
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Publication:PR Newswire
Date:Mar 15, 1993
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