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JSB Financial, Inc. elects Cynthia Gibbons to board of directors.

LYNBROOK, N.Y.--(BUSINESS WIRE)--March 12, 1997--JSB Financial, Inc. (NASDAQ:JSBF), the holding company for Jamaica Savings Bank FSB, today announced the election of Cynthia Gibbons as a Director of both the Bank and the holding company. Gibbons replaces Joseph J. Blaine, Retired Vice Chairman of the Board of JSB Financial and former President and Director of the Bank who passed away in February.

Gibbons, 40, has served as vice president of Koeppel Tener Real Estate Services in New York since 1995, where she provides due diligence consulting and appraisal services for loan portfolios and securitizations.

Prior to joining Koeppel Tener, Gibbons held several positions over her ten year career in the real estate appraisal and consulting field including Appraisal Associate for Chemical Real Estate Finance, Vice President of J.A. Cowan & Associates and Vice President of Gibbons & Rushmore.

Gibbons began her career with Norstar Bank serving as Internal Auditor and Credit Analyst before joining Marine Midland Bank as a Senior Credit Analyst. She is the daughter of current JSB Financial Board Director James E. Gibbons, Jr.

Park T. Adikes, Chairman and Chief Executive Officer of JSB Financial, said, "We are very pleased to have Ms. Gibbons serve on our Board of Directors. Her more than ten years experience in real estate appraisal and consulting, particularly in the area of commercial property valuation within the banking industry, will make her an asset in our continued efforts to better serve our customers and stockholders."

A resident of Point Lookout, New York, Gibbons holds an Associate of Applied Science degree from the State University of Farmingdale, a Bachelor and Masters Degree in Business Administration from Adelphi University and a MAI designation from the Appraisal Institute. Gibbons' numerous affiliations include the Association of Real Estate Women and the Appraisal Institute where she serves as a member of the Program Committee.

JSB Financial, Inc. and Jamaica Savings Bank FSB, with combined assets of $1.52 billion and a tangible net worth of $335.3 million as of December 31, 1996, are headquartered in Lynbrook, New York. The Bank operates through 13 offices, 10 of which are located in Queens, and one each in Manhattan, Nassau County and Suffolk County. The Bank's deposits are insured by the Federal Deposit Insurance Corp.-BIF Fund.

CONTACT: Edward Lekstutis

Thomas R. Lehmann

JSB Financial, Inc.

(516) 887-7000


Carl Hymans

G.S. Schwartz & Co.

(212) 725-4500
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Publication:Business Wire
Date:Mar 12, 1997
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