Anthony R. Davis of Dean Witter Reynolds Inc. upgraded UJB Financial Corp. last week to "accumulate" from "neutral," calling the company one of the best performers in the brokerage firm's 31 - bank universe.

Princeton, N.J.-based UJB's net interest margin bucked the industrywide trend and increased 11 basis points to 4.70%, aided by a large chunk of interest-free deposits and surging loan growth.

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