Advance Financial Bancorp

Proposed Ticker: -		1015 Commerce Street
Exchange: NASDAQ-Small Cap Market		Wellsburg, West Virginia 26070
Industry: Financial		(304) 737-3531

All share information is proposed
Type of Shares:	Common Shares	Filing Date:	9/27/96
U.S. Shares Filed:	943,000	Filing Price:	$10.00
Non-U.S. Shares Filed:	0	Offering Amount:	$9,430,000
Primary Shares:	943,000	Expenses:	-
Secondary Shares:	0	Shs Out After:

Manager	Tier	Phone
Charles Webb & Company	Lead Manager	(614) 766-8400

	Audited Income	Latest Unaudited Income	Prior Unaudited Income		Balance Sheet
	6/30/96				6/30/96
Revenue:	$6.61			Assets:	$91.85
Net Income:	$0.42			Liabilities:	$85.65
EPS:				Equity:	$6.20
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year

Business Description

The company was organized under Delaware law in September 1996 at the direction of the Board of Directors of the Bank to acquire all of the capital stock that the Bank will issue upon its conversion from the mutual to stock form of ownership. The company has not engaged in any significant business to date. Management believes that the holding company structure will provide flexibility for possible diversification or expansion of business arrangements, understandings, or agreements regarding any such opportunities. Subject to limitations on repurchases, the holding company structure will also enable the company to repurchase its own stock without adverse tax consequences. The bank, a federally chartered mutual savings bank, operates a traditional savings association business, attracting deposit accounts from the general public and using those deposits, together with other funds, primarily to originate and invest in loans secured by single-family residential real estate.

Use of Proceeds

The proceeds from the proposed offering will be used to purchase 100% of the to be outstanding common stock of the Bank and retain the remainder as its initial capitalization.

Last updated: 10/28/96