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FINANCIAL EXPERTS, REGULATORS PAINT OPTIMISTIC PICTURE FOR N.Y. COMMUNITY BANKS

 FINANCIAL EXPERTS, REGULATORS PAINT OPTIMISTIC PICTURE
 FOR N.Y. COMMUNITY BANKS
 ALBANY, N.Y., April 10 /PRNewswire/ -- Financial experts and Federal and State banking regulators gave an optimistic assessment of the New York State savings and banking industry, noting that most community oriented institutions in the State are healthy, profitable and well capitalized.
 Addressing nearly 200 directors, trustees and senior executives at the Community Bankers Association of New York State's (CBANYS) Trustee and director seminar in Albany, Dennis Jacobe, chief executive officer of Financial Research Institute, said that an as yet unreleased study conducted by his firm showed that community banks -- including savings banks and S&Ls -- are among the strongest in the nation.
 He added that the local presence of the banks -- and the funds they lend for people and their homes, families and businesses -- are very important in helping the economy rebound in the many communities they serve, and that both the economy and the troubles in the banking industry may have bottomed out in New York State. Jacobe pointed to economic data -- including home and auto sales -- that showed improvements over their levels from a year ago.
 Financial analyst William Ferguson, president of Ferguson & Company, told the community banking executives that the vast majority of savings banks and savings and loans -- nationally and in New York State -- are healthy and profitable.
 He termed the performance especially good in New York State considering the recessionary economic and real estate climate. He attributed much of the success of community banks to their lack of exposure to commercial real estate problems.
 United States Office of Thrift Supervision Regional Director Angelo Vigna said New York's savings institutions are profitable and stable, with average capital levels of 6 percent. That assessment was shared by Michael Zamorski, deputy regional director of the Federal Deposit Insurance Corporation.
 New York State regulators also found good news to report to the bankers. P. Vincent Conlon, deputy superintendent of Banks and chief examiner of the New York State Banking Department, said that the decline in the deterioration of asset quality has leveled off. In fact, Conlon noted that there was an improvement in non-performing loan levels in the fourth quarter of 1991.
 CBANYS represents an industry of 140 savings and banking institutions in New York State with total assets of $150 billion and employing 40,000 people at nearly 1,400 locations in communities throughout the state.
 -0- 4/10/92
 /CONTACT: Richard Mulieri or Steve Alschuler of Howard J. Rubenstein Associates, Inc., 212-489-6900, for Community Bankers Association of New York State/ CO: Community Bankers Association of New York State ST: New York IN: FIN SU:


SH-KW -- NY042 -- 7274 04/10/92 13:43 EDT
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Publication:PR Newswire
Date:Apr 10, 1992
Words:448
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