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/FIRST ADD -- NY006 -- GREATER NEW YORK SAVINGS BANK/

 THE GREATER NEW YORK SAVINGS BANK AND SUBSIDIARIES
 Financial Highlights
 (Dollars in thousands, except per share data)
 Quarters Ended
 6/30/93 6/30/92 3/31/93
 Operations Data:
 Net interest & dividend income $18,000 $17,727 $18,949
 Provision for loan & real estate
 losses(A) 5,000 8,000 12,000
 Net gain on sales of assets 267 5,475 7,111
 Other operating income (B) 2,403 2,039 2,207
 Other operating expenses (C) 15,967 13,774 17,685
 Tax expense (benefit) (1,311) 189 (1,311)
 Income (loss) before cumulative
 effect of change in acctg. principle 1,014 3,278 (107)
 Cumulative effect of change in
 accounting principle -- -- 7,000
 Net income 1,014 3,278 6,893
 Core earnings (D) 4,436 5,992 3,471
 Primary earnings per share:
 Income (loss) before cumulative
 effect of change in acctg. principle $0.04 $0.22 $(0.04)
 Cumulative effect of change in
 accounting principle -- -- 0.53
 Net income 0.04 0.22 0.49
 Fully diluted earnings per share:
 Income (loss) before cumulative
 effect of change in acctg. principle N/A $0.19 $(0.03)
 Cumulative effect of change in
 accounting principle -- -- 0.47
 Net income N/A 0.19 0.44
 (A) Provision for loan losses -- -- $6,500
 (A) Provision for real estate losses $5,000 $8,000 $5,500
 (B) Other operating income excludes the net gain on sales of assets.
 (C) Other operating expenses excludes the provision for real estate losses.
 (D) Core earnings is defined as net income before (i) taxes (ii) net gain on sales of assets (iii) provisions for loan and real estate losses and (iv) the effect of change in accounting principles.
 N/A Fully diluted earnings per share is not dilutive.
 THE GREATER NEW YORK SAVINGS BANK AND SUBSIDIARIES
 Financial Highlights
 (Dollars in thousands)
 Quarters Ended
 6/30/93 6/30/92 3/31/93
 Selected Other Data (annualized):
 Earning asset yield (percent) 7.51 7.87 7.32
 Cost of funds (percent) 4.18 5.26 4.23
 Interest rate spread (percent) 3.33 2.61 3.09
 Net interest margin (percent) 3.23 2.69 3.01
 Other operating expense to
 average assets (percent) 3.36 3.12 3.49
 Other operating expense (excluding
 nonperforming loan and real
 estate activities expense) to
 average assets (percent) 1.94 1.73 2.01
 Equity to assets
 ratios -- GAAP 6.03 5.18 5.94
 -- Tier 1 leverage (A) 5.94 5.02 5.55
 Risk - based capital ratio 10.69 9.82 10.48
 Troubled debt restructurings $139,320 $114,120 $170,134
 Nonperforming assets $221,074 $295,034 $242,245
 Foregone interest income from
 nonaccrual loans $1,416 $5,903 $2,032
 Net loan chargeoffs $4,319 $4,862 $6,847
 Net real estate chargeoffs $9,032 $12,537 $2,780
 (A) Regulatory Tier 1 leverage capital at June 30, 1993, June 30, 1992 and March 31, 1993 is 6.85 percent, 5.60 percent and 6.57 percent, respectively, computed with the inclusion of the allowance for real estate losses as part of capital which is in accordance with the FDIC's current treatment of such allowance as a portion of the bank's capital.
 THE GREATER NEW YORK SAVINGS BANK AND SUBSIDIARIES
 Financial Highlights
 (dollars in thousands except per share data)
 Period ended Six months
 June 30, 1993 1992
 Operations Data:
 Net interest & div. income $36,949 $35,305
 Provision for loan & real
 estate losses(A) 17,000 13,000
 Net gain on sales of assets 7,378 16,444
 Other operating income(B) 4,610 3,611
 Other operating expenses(C) 33,652 28,841
 Tax expense (benefit) (2,622) 378
 Net inc. bef. cumulative
 effect of change in accounting
 principle 907 13,141
 Cumulative effect of change
 in accounting principle 7,000 --
 Net income $7,907 $13,141
 Core earnings(A) 7,907 10,075
 Primary earnings per share:
 Income before cumulative effect
 of change in accounting
 principle -- 0.95
 Cumulative effect of change
 in accounting principle 0.53 --
 Net income $0.53 $0.95
 Fully diluted earnings per share:
 Income before cumulative effect
 of change in accounting
 principle 0.02 0.81
 Cumulative effect of change in
 accounting principle 0.46 --
 Net income 0.48 0.81
 (A) Provision for loan losses $6,500 $2,062
 (A) Provision for real estate
 losses 10,500 10,938
 (B) Other operating income excludes the net gain on sales of assets.
 (C) Other operating expenses excludes the provision for real estate losses.
 N/A Fully diluted earnings per share is not dilutive.
 (1) Core earnings is defined as net income before (i) taxes (ii) net gain on sales of assets (iii) provisions for loan and real estate losses and (iv) the effect of change in accounting principle.
 THE GREATER NEW YORK SAVINGS BANK AND SUBSIDIARIES
 FINANCIAL HIGHLIGHTS
 (Dollars in thousands except per share data)
 Six months ended June 30 1993 1992
 Selected Other Data (annualized):
 Earning asset yield 7.41 pct. 8.07
 Cost of funds 4.21 5.48
 Interest rate spread 3.20 2.59
 Net interest margin 3.12 2.67
 Other operating expense to
 average assets 3.42 2.84
 Other operating expense
 (excluding nonperforming loan
 and real estate activities
 expense) to average assets 1.97 1.73
 Foregone interest income from
 nonaccrual loans $3,448 $10,038
 Net loan chargeoffs 11,166 8,510
 Net real estate chargeoffs 11,812 14,273
 6/30/93 12/31/92
 Financial Condition Data:
 Total assets $2,501,365 $2,702,849
 Loans receivable 1,282,658 1,354,664
 Allowance for loan losses (18,511) (23,177)
 Total $1,264,147 $1,331,487
 Mortgage-backed securities, net 734,682 711,837
 Securities held for sale, net 54,278 262,064
 Investment securities, net 91,706 92,319
 Real estate held for development
 and acquired through foreclosure:
 Other real estate 90,245 72,952
 In-substance foreclosures 87,616 113,841
 Joint ventures 23,086 24,562
 Total 200,947 211,355
 Allowance for real estate losses (24,781) (26,093)
 Total $176,166 $185,262
 Deposits $1,869,852 $2,180,758
 Borrowed funds 407,708 333,763
 Stockholders' equity 150,879 142,107
 Selected Ratios:
 Negative one-year gap to
 total assets 5.8 pct. 8.7 pct.
 Interest-sensitive assets
 to total assets:
 Under 1 year 34.7 28.6
 Under 5 years 77.1 77.2
 Book value per common share $11.26 $10.65
 -0- 7/16/93 AA NY006
 /END FIRST AND FINAL ADD/
 /PRNewswire -- July 16/
 (GRTR)


CO: The Greater New York Savings Bank ST: New York IN: FIN SU: ERN

LG-PO -- NY006A -- 2405 07/16/93 10:46 EDT
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Date:Jul 16, 1993
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