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THE WASHINGTON SAVINGS BANK, F.S.B. REPORTS THIRD QUARTER AND NINE MONTH RESULTS

 WALDORF, Md., May 19 /PRNewswire/ -- The Washington Savings Bank, FSB (AMEX: WSB) today announced the results for its three and nine months ended April 30, 1993.
 WSB is a federally chartered, federally insured savings bank, with principal executive offices in Waldorf.
 THE WASHINGTON SAVINGS BANK, FSB
 Three months ended April 30 1993 1992
 Net interest income after
 provision for loan losses $1,453,000 $1,074,000
 Other income 438,000 362,000
 General & administrative expenses 978,000 933,000
 Provision for loan losses 49,000 64,000
 Net earnings $ 546,000 $ 226,000
 Earnings per share $ .18 $ .08
 Average shares outstanding 2,959,642 2,871,021
 Assets $200,504,000 $209,758,000
 Deposits 185,477,000 196,342,000
 Total stockholders' equity 13,521,000 11,704,000
 Book value per share $5.03 $4.37
 Nine months ended April 30 1993 1992
 Net interest income after
 provision for loan losses $4,386,000 $3,109,000
 Other income 1,215,000 870,000
 General & administrative expenses 2,961,000 2,796,000
 Provision for loan losses 124,000 192,000
 Net earnings 1,566,000 378,000
 Earnings per share $.54 $.13
 Average shares outstanding 2,874,068 2,958,894
 -0- 5/19/93
 /CONTACT: Sherrie L. Kubala, senior vp of Washington Savings Bank, 301-843-7200/
 (WSB)


CO: The Washington Savings Bank, FSB ST: Maryland IN: FIN SU: ERN

MJ-MP -- PH012 -- 0196 05/19/93 10:24 EDT
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Date:May 19, 1993
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