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THE WASHINGTON SAVINGS BANK, F.S.B. REPORTS FOURTH QUARTER AND ANNUAL RESULTS

 WALDORF, Md., Sept. 23 /PRNewswire/ -- The Washington Savings Bank, F.S.B. (AMEX: WSB), today announced financial highlights for its three and 12 months ended July 31, 1993.
 WSB is a federally chartered, federally insured savings bank, with principal executive offices in Waldorf.
 THE WASHINGTON SAVINGS BANK, F.S.B.
 FINANCIAL HIGHLIGHTS
 Three months ended July 31 1993 1992
 Net interest income after
 provision for loan losses $1,443,000 $1,233,000
 Other income 528,000 388,000
 General & administrative expenses 1,021,000 1,049,000
 Provision for Loan Losses 63,000 ---
 Net earnings 598,000 339,000
 Earnings per share $.21 $.12
 Average Primary shares outstanding 2,969,019 2,816,290
 Assets $213,725,000 $204,235,000
 Deposits 197,937,000 190,259,000
 Total stockholders' equity 14,136,000 12,050,000
 Book value per share $5.23 $4.50
 12 months ended July 31 1993 1992
 Net interest income after
 provision for loan losses $5,829,000 $4,343,000
 Other income 1,743,000 1,258,000
 General & administrative expenses 3,982,000 3,845,000
 Provision for Loan Losses 187,000 192,000
 Net earnings 2,164,000 717,000
 Earnings per share $.75 $.25
 Average Primary shares
 outstanding 2,897,806 2,923,243
 -0- 9/23/93
 /CONTACT: Sherrie L. Kubala, senior vp, of Washington Savings Bank, 301-843-7200/
 (WSB)


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

MJ-JM -- PH012 -- 5125 09/23/93 10:40 EDT
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Publication:PR Newswire
Date:Sep 23, 1993
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