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THE WASHINGTON SAVINGS BANK, F.S.B. LISTS ON THE AMERICAN STOCK EXCHANGE COMPANY PREVIOUSLY TRADED ON NASDAQ

 NEW YORK, April 7 /PRNewswire/ -- The Washington Savings Bank, F.S.B., today commenced trading on the American Stock Exchange. The Company's common stock, trading under the ticker symbol "WSB", opened at 11:30 a.m. at 5-7/8 on 100 shares. The company has selected Spear, Leeds & Kellogg as its specialist firm. The Washington Savings Bank previously traded over-the-counter on the Nasdaq system.
 The Washington Savings Bank, F.S.B., headquartered in Waldorf, Md., is a federally-chartered, federally-insured stock savings bank which was organized in 1982 as a Maryland-chartered, privately-insured savings and loan association. WSB is a member of the Federal Home Loan Bank system and its deposits are insured by the Federal Deposit Insurance Corporation to the maximum amount provided by law. The company's three branches and three loan origination offices are located throughout the state of Maryland.
 Net interest income after provision for loan losses for the six months ended Jan. 31, 1993 was $2,933,147 as compared with $2,035,302 reported in the same six month period of 1992. Net earnings for the first six months of fiscal 1993 was $1,019,887, or $.36 per share as compared with $152,048, or $.05 per share reported in the first six months of the prior fiscal year.
 "Listing The Washington Savings Bank's shares on the American Stock Exchange represents a milestone in our corporate history," stated Lawrence M. Breneman, President and Co-Chief Executive Officer of The Washington Savings Bank, F.S.B., "We feel that this listing is in the best interest of our shareholders who will benefit from the efficiencies associated with auction market trading. Additionally, by listing on the AMEX, Washington Savings Bank will gain increased visibility in the financial community, increased liquidity and will benefit from the specialist's personal attention."
 The American Stock Exchange is committed to becoming the recognized, premier marketplace for growth companies and derivative securities. By responding to listed company needs and initiating quality services, the AMEX finds innovative ways to add value to the expanding community of companies and investors it serves.
 -0- 4/7/93
 /CONTACT: Melissa Grand, manager, equities communications of Amex, 212-306-1635/
 (WSB)


CO: Washington Savings Bank, F.S.B. ST: Maryland IN: FIN SU:

LR -- NY034 -- 3753 04/07/93 12:08 EDT
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Publication:PR Newswire
Date:Apr 7, 1993
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