GERMANTOWN, Ohio - GF Bancorp., the $49 million-asset holding company for Germantown Federal Savings

Bank, announced net earnings of $33;549, or 11 cents per share, for the quarter ended June 30, down from $64,683 for the same period in 1993.

The company attributed the lower earnings to costs associated with the expansion of mortgage lending operations and increased expenses from outside legal .and accounting services for annual public reporting requirements.

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