Jefferson Federal Bank Reports Quarterly and Year End Earnings; Net Income Increased 48.1% for the Year Ended June 30, 2003.

Business Editors

MORRISTOWN, Tenn.--(BUSINESS WIRE)--July 25, 2003

Jefferson Bancshares, Inc. (Nasdaq: JFBI), the holding company for Jefferson Federal Bank, today reported net income of $3.6 million for the year ended June 30, 2003, representing an increase of 48.1% from net income of $2.4 million for the year ended June 30, 2002. On a diluted per share basis, earnings increased to $1.91 for fiscal 2003 from $1.29 for fiscal 2002. The resulting return on average assets was 1.32% and the return on average stockholders' equity was 10.25% for the current year. Net income...

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