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WEST MASS BANKSHARES, INC. ANNOUNCES FOURTH QUARTER AND YEAR END RESULTS

 GREENFIELD, Mass., Jan. 21 /PRNewswire/ -- West Mass Bankshares, Inc. (NASDAQ: WMBS) today announced operating results for the quarter and year ended Dec. 31, 1992.
 Net income for the three months ended Dec. 31, 1992 was $546 thousand or 44 cents per common share and common share equivalents, compared to $40 thousand or 3 cents per common share, and common share equivalents for the comparable period in 1991.
 Net income for the year ended Dec. 31, 1992 was $1,318 thousand or $1.07 per common share and common share equivalents as compared to $706 thousand or 57 cents per common share and common share equivalents for the same period ended Dec. 31, 1991.
 At Dec. 31, 1992, non-performing loans were $7.1 million, down from $7.5 million at Dec. 31, 1991. Total non-performing assets were $10.1 million, up from $9.1 million at Dec. 31, 1991. The allowance for loan losses stood at $3.2 million after the year's loan loss provision of $1.9 million and net loan charge offs of $481 thousand. For the year ended Dec. 31, 1991 the provision for loan losses was $1.3 million and net loan charge offs were $494 thousand. At Dec. 31, 1992, the allowance for possible loan losses represented 44.4 percent of non- performing loans and 31.1 percent of total nonperforming assets. These ratios were 22.8 percent and 18.7 percent, respectively, at Dec. 31, 1991.
 Total assets of West Mass Bankshares, Inc. were $218.2 million at
Dec. 31, 1992 compared to $208.4 million at Dec. 31, 1991. Total deposits were $192.3 million at Dec. 31, 1992, up from $188.3 million at Dec. 31, 1991. Total stockholders' equity increased to 20.4 million from $19.4 million at Dec. 31, 1991.
 The board of directors of West Mass Bankshares, Inc. declared a dividend of 7 cents per share payable on Feb. 26, 1993 to shareholders of record on Feb. 1, 1993.
 -0- 1/21/93
 /CONTACT: Ken Cole of West Mass Bankshares, 413-774-3713/
 (WMBS)


CO: West Mass Bankshares ST: Massachusetts IN: FIN SU: ERN

TM -- NE017 -- 7511 01/21/93 14:41 EST
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Date:Jan 21, 1993
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