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THIRD FEDERAL SAVINGS REPORTS RECORD EARNINGS FOR 1991

 THIRD FEDERAL SAVINGS REPORTS RECORD EARNINGS FOR 1991
 CLEVELAND, Jan. 13 /PRNewswire/ -- Third Federal Savings and Loan


Association of Cleveland chairman and chief executive officer Marc A. Stefanski announced today that the thrift achieved record earnings of $48.6 million for the year ending Dec. 31, 1991. Third Federal posted an increase of more than 21 percent over net earnings of $40 million reported in 1990, bringing current net worth to $332.2 million.
 "We are extremely proud that our traditional approach to our business and our reputation for strength, stability and safety has consistently attracted savings deposits and mortgage borrowers alike," said Stefanski.
 "A relatively healthy housing market in Northeast Ohio, coupled with interest rate trends over the year combined to boost both the lending and savings side of our business," he added.
 Third Federal added a record $589 million in residential first mortgage loans and nearly $442 million in net savings deposits in 1991. Total assets climbed to $3.5 billion. The association's net worth to assets ratio stands at 9.4 percent, more than three times federal regulatory requirements.
 Third Federal Savings and Loan Association of Cleveland, founded in 1938, operates 21 offices serving Northeast Ohio and is the largest conventional home mortgage lender in the state. The association is noted for its long time commitment to the traditional role of promoting thrift and home ownership in its community.
 -0- 1/13/91
 /CONTACT: Marc A. Stefanski, chairman and chief executive officer of Third Federal Savings, 216-441-6000/ CO: Third Federal Savings ST: h?io IN: FIN SU: ERN


KK -- CL004 -- 8968 01/13/92 09:37 EST
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Date:Jan 13, 1992
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