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THE BANK OF NEW YORK ACQUIRES 9 BRANCHES IN NASSAU AND SUFFOLK COUNTIES

THE BANK OF NEW YORK ACQUIRES 9 BRANCHES IN NASSAU AND SUFFOLK COUNTIES
 NEW YORK, June 12 /PRNewswire/ -- The Bank of New York announced today that it has acquired six American Savings Bank branches in Nassau County and three Riverhead Savings Bank offices in Suffolk County from the Federal Deposit Insurance Corporation, representing approximately $700 million of insured deposits.
 The American Savings Bank branches are at the following locations:
 Massapequa -- Hicksville Road & Jerusalem Avenue
 East Meadow Plaza -- 1960 Hempstead Turnpike
 Wantagh -- 1260 Wantagh Avenue
 Great Neck -- 481 Middle Neck Road
 Greenvale -- 57 Northern Boulevard
 Baldwin -- 915 Atlantic Avenue
 The Riverhead Savings Bank branches are at the following locations:
 Riverhead -- 7 West Main Street
 Bay Shore -- 380 East Main Street
 Lake Grove -- 2835 Middle Country Road
 These nine additional offices will increase the number of Bank of New York branches in Nassau County to 51 and in Suffolk County to 50. The total retail branch network will grow to 294 locations and will enhance the bank's position as the leading retail bank in the greater New York suburban area. These numbers include the proposed acquisition of 63 branches from Barclays Bank of New York, N.A.
 The Bank of New York Company, Inc. is the 17th largest commercial bank holding company in the United States, with total assets of $40.1 billion at March 31, 1992. The Bank of New York, its principal subsidiary, was founded in 1784 by Alexander Hamilton and is the nation's oldest bank operating under its original name. The bank is an important lender to major U.S. and multinational corporations and to mid-sized companies nationally. In addition to its retail business, the bank is the largest overall provider of securities processing services in the United States and a respected trust and investment manager. The shares of the company are traded on the New York Stock Exchange under the symbol BK. The Bank of New York is a member of the Federal Deposit Insurance Corporation.
 -0- 6/12/92
 /CONTACT: Michael M. Pascale, 212-495-1041, or Margaret W. Southerland, AVP, 212-495-1725, both of Bank of New York/
 (BK) CO: Bank of New York Company, Inc. ST: New York IN: FIN SU: TNM


KD -- NY071 -- 9832 06/12/92 16:44 EDT
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Publication:PR Newswire
Date:Jun 12, 1992
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