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THE WASHINGTON SAVINGS BANK, F.S.B. REPORTS SECOND QUARTER AND SIX-MONTH RESULTS

 THE WASHINGTON SAVINGS BANK, F.S.B. REPORTS
 SECOND QUARTER AND SIX-MONTH RESULTS
 WALDORF, Md., March 6 /PRNewswire/ -- The Washington Savings Bank, FSB (NASDAQ: WSBX), today announced financial highlights for its three and six months ended Jan. 31, 1992.
 WSBX is a federally chartered, federally insured savings bank, with principal executive offices in Waldorf.
 THE WASHINGTON SAVINGS BANK, FSB
 Three months ended Jan. 31 1992 1991
 Net interest income after
 provision for loan losses $1,095,000 $854,000
 Other income 209,000 143,000
 General & administrative expenses 923,000 912,000
 Net earnings 200,000 33,000
 Earnings per share (A) $.07 $.01
 Average shares outstanding (A) 3,031,876 2,989,668
 Assets 205,222,000 179,384,000
 Deposits 192,256,000 166,895,000
 Total stockholders' equity 11,888,000 11,679,000
 Book value per share (A) $4.33 $3.91
 Six months ended Jan. 31 1992 1991
 Net interest income after
 provision for loan losses $2,035,000 $1,659,000
 Other income 508,000 329,000
 General & administrative expenses 1,864,000 1,822,000
 Net earnings 379,000 97,000
 Earnings per share (A) $.13 $.03
 Average shares outstanding (A) 3,002,831 2,989,668
 (A) All average shares outstanding and related per-share amounts have been adjusted to give retroactive effect to the higher number of shares outstanding as a result of a 50 percent stock dividend issued on Dec. 16, 1991, to record holders as of Dec. 2.
 -0- 3/6/92
 /CONTACT: Sherrie L. Kubala, senior vp of Washington Savings Bank, 301-843-7200/
 (WSBX) CO: The Washington Savings Bank, FSB ST: Maryland IN: FIN SU: ERN


MP-KA -- PH004 -- 5758 03/06/92 09:51 EST
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Date:Mar 6, 1992
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