Clifford J. Adams resigns as President of Statewide Savings Bank.JERSEY CITY, N.J.--(BUSINESS WIRE)--December 5, 1996--Clifford J. Adams has resigned from his position as President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Statewide Savings Bank to pursue other business opportunities. The resignation will take effect immediately, it was announced by Victor M. Richel, Chairman and CEO of the Bank and of Statewide Financial Corp, the holding company. "Cliff Adams has contributed to Statewide Savings' success over the years," said Richel. "All of us at Statewide appreciate his efforts and wish him well in his future endeavors." Headquartered in Jersey City, N.J., Statewide Savings Bank S.L.A. conducts business from 16 locations in Hudson, Union, Bergen and Passaic counties. Statewide's deposits are insured by the Savings Association Insurance Fund Savings Association Insurance Fund (SAIF) A government organization that replaced the Federal Savings and Loan Insurance Corporation as the provider of deposit insurance for thrift institutions. (SAIF) of the Federal Deposit Insurance Corporation Federal Deposit Insurance Corporation (FDIC), an independent U.S. federal executive agency designed to promote public confidence in banks and to provide insurance coverage for bank deposits up to $100,000. (FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). ). Statewide Financial Corp, the holding company of Statewide Savings Bank, is publicly traded on NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on under the symbol SFIN. CONTACT: Statewide Financial Corp Augustine F. Jehle, 201/795-4000 Anthony S. Cicatiello, 908/382-1066 |
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