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JOHNSTOWN SAVINGS BANK RECEIVES OUTSTANDING COMMUNITY REINVESTMENT RATING

 JOHNSTOWN SAVINGS BANK RECEIVES
 OUTSTANDING COMMUNITY REINVESTMENT RATING
 JOHNSTOWN, Pa., Aug. 25 /PRNewswire/ -- Johnstown Savings Bank, FSB, (NASDAQ: JSBK) today announced that its primary regulator, the Office of Thrift Supervision, has rated the bank "outstanding" in a recently issued report of examination of the bank's compliance with the provisions of the Community Reinvestment Act (CRA) of 1977.
 The evaluation represents the agency's current assessment and rating of Johnstown Savings Bank's community reinvestment performance based on an examination conducted as of June 29, 1992. The purpose of the Community Reinvestment Act is to encourage each financial institution to help meet the credit needs of the communities in which it operates. Access to credit is considered critical to the growth and development of businesses, increasing employment opportunities and improving the quality of life in local neighborhoods.
 The rating of "outstanding" represents the highest rating given by federal bank regulators for a financial institution's efforts and effectiveness in meeting the credit needs of the communities it services. An institution in this group has been rated by its primary regulatory agency as having an outstanding record of, and is considered a leader in, ascertaining and helping to meet the credit needs of its entire delineated community, including low- and moderate-income neighborhoods, in a manner consistent with its resources and capabilities.
 Patrick J. Coyne, president and chief executive officer, stated that the bank's management and board of directors are extremely pleased with the rating. He noted that the bank has been committed to serving the needs of the Greater Johnstown community since it was chartered almost 122 years ago, in 1870. Coyne further stated that the bank has made a continuing comprehensive effort to identify and meet the financial services needs of the local residents. In addition, he stressed the bank's ongoing support of community development efforts and participation in various civic and community activities throughout the area.
 Coyne further explained that, in the evaluation of CRA compliance, regulatory authorities consider the programs that a financial institution puts in place to increase the accessibility of funding for business uses, home purchases, and personal credit needs. The bank's programs to increase community awareness of available credit options, educate consumers on the wise use of credit, and actively seek to make loans to low- to moderate-income individuals and in low- to moderate-income areas were all considered in the assignment of the bank's "outstanding" rating.
 Under federal regulation, federal agencies and regulated financial institutions are required to make public certain portions of their CRA performance assessments. Members of the general public interested in reviewing the report of CRA examination may do so by visiting the bank's main office in downtown Johnstown and asking to review the bank's CRA public file. The file is accessible during the bank's regular business hours.
 Johnstown Savings Bank is a federally chartered, FDIC-insured savings bank which conducts its business through five offices in the Greater Johnstown area and through its wholly owned subsidiary, Standard Mortgage Corporation of Georgia, located in Atlanta.
 /delval/
 -0- 8/25/92
 /CONTACT: Patrick J. Coyne, president & CEO, or Walter F. Rusnak, senior vice president & CFO, of Johnstown Savings Bank, 814-535-8900/
 (JSBK) CO: Johnstown Savings Bank, FSB ST: Pennsylvania IN: FIN SU: RTG


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Publication:PR Newswire
Date:Aug 25, 1992
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