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WASHINGTON MUTUAL TOPS RECORD $3 BILLION IN RESIDENTIAL FIRST MORTGAGE LOAN ORIGINATIONS

 SEATTLE, Dec. 21 /PRNewswire/ -- Washington Mutual (NASDAQ: WAMU) today announced it has become the first Northwest-based bank to originate more than $3 billion in residential first mortgage loans in a single year.
 The record strengthens Washington Mutual's position as the No. 1 home lender in Washington and a leading lender in the Greater Portland area.
 "Consumers are turning to Washington Mutual because of the personal service they receive, the bank's competitive rates and the fact that their loans are serviced in the Northwest," said Lee Lannoye, Washington Mutual's executive vice president for lending.
 "If customers have questions about their loans, we have the information to help them right here at home -- they don't have to call New York or San Francisco," he said.
 By the end of 1992, Washington Mutual's home loan originations are expected to have nearly doubled the bank's previous record of $1.6 billion, set in 1990 and met again in 1991. The loan origination figure includes loans for home purchases, refinancing and new construction. Washington Mutual's annual home loan originations have exceeded $1 billion since 1989. At Dec. 21, 1992, the bank had originated $3.032 billion in residential first mortgage loans thus far in 1992.
 Washington Mutual is the leading residential first mortgage lender in Washington, with 9.2 percent of the market for the year as of the end of the third quarter. Washington Mutual's nearest competitor had half that figure. In the Greater Portland area, Washington Mutual is also a top lender, with 6.4 percent of the market for the same period.
 "Washington Mutual will further strengthen its ability to serve more Northwest consumers as a result of the pending acquisitions of Pacific First Bank and Pioneer Savings Bank," Lannoye said. "People want a bank that is local, strongly capitalized and profitable. That's Washington Mutual."
 Washington Mutual announced Oct. 27 the signing of a definitive agreement to acquire Pacific First Financial Corp., the parent company of Seattle-based Pacific First Bank. Washington Mutual announced Aug. 20 plans to acquire Pioneer Bank of Lynnwood, Wash.
 Washington Mutual was founded 103 years ago to help Seattle residents rebuild their homes after the Great Seattle Fire in 1889.
 Serving the financial needs of Northwest consumers, Washington Mutual is the largest independent bank headquartered in Washington, having assets of $8.4 billion and operating 119 financial centers and 17 home loan centers in Washington and Oregon.
 -0- 12/21/92
 /CONTACT: Scott F. Selby of Washington Mutual Savings Bank, 206-461-3186/
 (WAMU)


CO: Washington Mutual Savings Bank ST: Washington IN: FIN SU:

SW -- SE005 -- 0143 12/21/92 12:36 EST
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Date:Dec 21, 1992
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