Washington Savings ... ... ... Ticker...

EARNINGS

November 18, 1993

Washington Savings ... ... ... Ticker ... ... Yesterday's

Bank F.S.B. ... ... ... ... ... ... Symbol ... ... Cls. ... Chg.

... ... ... ... ... ... ... ... ... WSB ... .. ... 9 1/8 .. .. +1 1/2

Period ended Oct. 31 ... ... 1st qtr. ... ... Year ago ... Chg.

Net Income ... ... ... .. .. $935 ... ... ... $392 ... ... +138.5%

Primary EPS ... ... .. .. .. $0.31 .. ... ... $0.14 .. ... +121.4%

Annualized return

on assets ... ... ... ... .. 1.65% .. ... ... 0.76% ... ... --

Add. to allowance

for loan losses ... .. .. .. 49 ... .. ... .. 36 ... .. ... +36.1%

Balances as of ... ... .. .. 10/31/93 ... ... 10/31/92 .. .. Chg.

Assets ... ... ... ... .. .. $224,648 ... ... $205,853 .. .. +9.1%

Deposits ... ... ... ... ... $206,408 ... ... $192,153 .. .. +7.4%

Loans outst. ... ... ... ... NA ... ... .. .. NA ... ... ... --

Loan loss reserve .. ... ... NA ... ... .. .. NA ... ... ... --

* This Waldorf-based thrift declared a 50 percent stock dividend payable Dec. 17 to stockholders of record as of Dec. 3. Cash will be paid in lieu of fractional shares.

Figures in thousands (except per share data.)

Washington Homes Inc. ... ... Ticker ... ... ... Yesterday's

... ... ... ... ... ... .. .. .. Symbol ... ... ... Cls. ... Chg.

... ... ... ... ... ... .. .. .. WHIN ... ... .. .. 8 ... .. + 1/2

Period ended Oct. 31 .. .. .. 1st qtr. ... .. Year ago ... Chg.

Revenue ... ... ... ... .. .. $30,460 ... ... $26,375 .. .. +15.5%

Net Income ... ... ... ... .. $1,242 .. .. .. $928 .. .. .. +33.8%

Primary EPS .. ... ... ... .. $0.16 ... .. .. $0.23* ... .. -30.4%

* Does not reflect the issuance of additional shares in the company's initial public offering of common stock in February 1993, and a private placement of stock in December 1992. Adjusting for those shares, earnings would equal 12 cents a share on a pro forma basis.

Figures in thousands (except per share data)

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