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NEW JERSEY DEPARTMENT OF BANKING APPROVES MERIDIAN ACTIONS

 READING, Pa., Jan. 8 /PRNewswire/ -- Meridian Bancorp, Inc. (NASDAQ: MRDN) announced that the New Jersey Department of Banking has approved the charter of "Meridian Bank, New Jersey," a newly formed subsidiary of Meridian Bancorp, Inc.
 The department has also approved Meridian's pending acquisition of Cherry Hill National Bank.
 The transaction remains subject to other regulatory approvals and the approval of Cherry Hill National Bank's shareholders. Completion of the acquisition is anticipated during the first quarter of 1993.
 Meridian Bancorp, Inc., an $11.9 billion asset banking and financial services holding company, is based in Reading. Meridian, through banking and financial services subsidiaries, operates nationally, with its current banking focus in 16 Pennsylvania counties and the state of Delaware.
 /delval/
 -0- 1/8/93
 /CONTACT: George E. Biechler, 215-655-2470, or Bob Shade, 215-655-2463, both of Meridian Bancorp/
 (MRDN)


CO: Meridian Bancorp, Inc.; New Jersey Department of Banking;
 Cherry Hill National Bank ST: Pennsylvania, New Jersey IN: FIN SU: TNM


CC-MK -- PH024 -- 3133 01/08/93 15:45 EST
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Publication:PR Newswire
Date:Jan 8, 1993
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