HINSDALE, Ill., May 30 /PRNewswire/ -- Alliance Bancorp (Nasdaq: ABCL),
the holding company for Liberty Federal Bank, today announced that its Board
of Directors declared a quarterly cash dividend of $0.1625 per share, to be
paid July 18, 1997, to shareholders of record as of June 30, 1997.  This
payment is consistent with the Company's previously announced intention to pay
a cash dividend at an annual rate of $0.65 per share.
    Alliance also announced that five directors were re-elected to its Board
of Directors during the Company's annual shareholders' meeting held on May 28,
1997.
    Re-elected were Fredric G. Novy, Chairman of the Board of Alliance Bancorp
and Liberty Federal Bank; Howard R. Jones, president of Packaging Design
Corporation; William C. O'Donnell, president of ODON Communications Group;
Russell F. Stephens Jr., president of Insurance Concepts & Design Inc.; and
Vernon B. Thomas Jr., an attorney specializing in corporate, banking and real
estate law and estate planning.
    All five directors were elected for a three-year term.
    Alliance Bancorp is the parent company of Liberty Federal Bank which was
recently formed through the merger of Hinsdale Federal Bank and Liberty
Federal Savings Bank.  Liberty Federal Bank is a community-oriented financial
services company operating 14 retail banking offices in Chicago, north and
western Cook County and DuPage County.  Preferred Mortgage Associates Ltd., a
subsidiary of Liberty Federal Bank, is one of the largest mortgage brokers in
the Chicago metropolitan area.  Preferred has four mortgage origination
offices including its headquarters in Downers Grove, Ill.
    The Company's common stock trades on the Nasdaq National Market tier of
the Nasdaq Stock Market under the symbol:  ABCL.

Link to this page: