Bank Plus Corporation Comments on Increase in Price of Its Common Stock

Apr 02, 2001, 01:00 ET from Bank Plus Corporation

    LOS ANGELES, April 2 /PRNewswire/ -- Bank Plus Corporation (Nasdaq:   BPLS)
 ("Bank Plus" or the "Company"), in response to a significant increase in the
 trading price of its common stock, announced today that it is in negotiations
 with a potential acquirer of the Company.
     Mark K. Mason, President and Chief Executive Officer, said:  "We are in
 negotiations with a potential acquirer but we have not signed a letter of
 intent or a definitive agreement.  We will of course advise stockholders if
 and when any definitive agreement is reached."
     The Company emphasized that there can be no assurance given that these
 negotiations will result in any agreement relating to a sale of the Company.
 
     Bank Plus Corporation is the holding company for Fidelity Federal Bank,
 FSB, which offers a broad range of consumer financial services, including
 demand and time deposits and mortgage loans.  In addition, through its
 affiliate Gateway Investment Services, Inc., a NASD-registered broker/dealer,
 Fidelity provides customers of the Bank with investment products, including
 mutual funds, annuities and insurance.  Fidelity operates through 30 full-
 service branches, 29 of which are located in Los Angeles and Orange counties
 in Southern California.
 
     Forward Looking Statements
     Certain statements included in this release, including without limitation
 statements containing the words "believes," "anticipates," "intends,"
 "expects," "projects" and words of similar import, constitute "forward-looking
 statements" within the meaning of the Private Securities Litigation Reform
 Act.  Such forward-looking statements involve known and unknown risks,
 uncertainties and other factors that may cause the actual results, performance
 or achievements of Bank Plus and Fidelity to be materially different from any
 future results, performance or achievements expressed or implied by such
 forward-looking statements.  Such factors are referred to in Bank Plus's most
 recent Annual Report on Form 10-K as of December 31, 1999 and its most recent
 Quarterly Report on Form 10-Q as of September 30, 2000.  A number of other
 factors may have a material adverse effect on the Company's financial
 performance.  These factors include a national or regional economic slowdown
 or recession which increases the risk of defaults and credit losses; the
 impact of changes in the availability or price of electrical or other forms of
 energy in the Company's markets; movements in market interest rates that
 reduce our margins or the fair value of the financial instruments the Bank
 holds; restrictions imposed on the Bank's operations by regulators such as a
 prohibition on the payment of dividends to Bank Plus; failure of regulatory
 authorities to issue approvals or non-objection to material transactions
 involving the Bank; actions by the Bank's regulators or other governmental
 agencies having jurisdiction over the Bank that could adversely affect the
 Bank's regulatory compliance status or capital levels; an increase in the
 number of customers seeking protection under the bankruptcy laws which
 increases the amount of charge-offs; the effects of fraud or other contract
 breaches by third parties or customers; the effectiveness of the Company's
 collection efforts and the outcome of pending and future litigation.  Given
 these uncertainties, undue reliance should not be placed on such forward-
 looking statements.  Bank Plus disclaims any obligation to update any such
 factors or to publicly announce the results of any revisions to any of the
 forward-looking statements included herein to reflect future events or
 developments.
 
 

SOURCE Bank Plus Corporation
    LOS ANGELES, April 2 /PRNewswire/ -- Bank Plus Corporation (Nasdaq:   BPLS)
 ("Bank Plus" or the "Company"), in response to a significant increase in the
 trading price of its common stock, announced today that it is in negotiations
 with a potential acquirer of the Company.
     Mark K. Mason, President and Chief Executive Officer, said:  "We are in
 negotiations with a potential acquirer but we have not signed a letter of
 intent or a definitive agreement.  We will of course advise stockholders if
 and when any definitive agreement is reached."
     The Company emphasized that there can be no assurance given that these
 negotiations will result in any agreement relating to a sale of the Company.
 
     Bank Plus Corporation is the holding company for Fidelity Federal Bank,
 FSB, which offers a broad range of consumer financial services, including
 demand and time deposits and mortgage loans.  In addition, through its
 affiliate Gateway Investment Services, Inc., a NASD-registered broker/dealer,
 Fidelity provides customers of the Bank with investment products, including
 mutual funds, annuities and insurance.  Fidelity operates through 30 full-
 service branches, 29 of which are located in Los Angeles and Orange counties
 in Southern California.
 
     Forward Looking Statements
     Certain statements included in this release, including without limitation
 statements containing the words "believes," "anticipates," "intends,"
 "expects," "projects" and words of similar import, constitute "forward-looking
 statements" within the meaning of the Private Securities Litigation Reform
 Act.  Such forward-looking statements involve known and unknown risks,
 uncertainties and other factors that may cause the actual results, performance
 or achievements of Bank Plus and Fidelity to be materially different from any
 future results, performance or achievements expressed or implied by such
 forward-looking statements.  Such factors are referred to in Bank Plus's most
 recent Annual Report on Form 10-K as of December 31, 1999 and its most recent
 Quarterly Report on Form 10-Q as of September 30, 2000.  A number of other
 factors may have a material adverse effect on the Company's financial
 performance.  These factors include a national or regional economic slowdown
 or recession which increases the risk of defaults and credit losses; the
 impact of changes in the availability or price of electrical or other forms of
 energy in the Company's markets; movements in market interest rates that
 reduce our margins or the fair value of the financial instruments the Bank
 holds; restrictions imposed on the Bank's operations by regulators such as a
 prohibition on the payment of dividends to Bank Plus; failure of regulatory
 authorities to issue approvals or non-objection to material transactions
 involving the Bank; actions by the Bank's regulators or other governmental
 agencies having jurisdiction over the Bank that could adversely affect the
 Bank's regulatory compliance status or capital levels; an increase in the
 number of customers seeking protection under the bankruptcy laws which
 increases the amount of charge-offs; the effects of fraud or other contract
 breaches by third parties or customers; the effectiveness of the Company's
 collection efforts and the outcome of pending and future litigation.  Given
 these uncertainties, undue reliance should not be placed on such forward-
 looking statements.  Bank Plus disclaims any obligation to update any such
 factors or to publicly announce the results of any revisions to any of the
 forward-looking statements included herein to reflect future events or
 developments.
 
 SOURCE  Bank Plus Corporation