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NATIONAL COMMUNITY BANK BECOMES THE BANK OF NEW YORK NA, NATIONAL COMMUNITY DIVISION; CONVERSION COMPLETED OVER LABOR DAY WEEKEND

 WEST PATERSON, N.J., Sept. 7 /PRNewswire/ -- National Community Bank is now The Bank of New York NA, National Community Division, following the successful completion of National Community Bank's conversion over the Labor Day weekend.
 In one of the largest branch banking and systems conversions ever completed in three days, over 1,500 employees from both National Community Bank and The Bank of New York worked through the Labor Day weekend to complete this seamless transition successfully.
 "We welcome our new customers and shareholders, and reiterate our commitment to be the best local bank in every community we serve," said J. Carter Bacot, chairman and chief executive officer of The Bank of New York Company. "Both banks share a tradition of community banking and our focus won't change."
 "We're pleased to be part of The Bank of New York Company, but we'll remain a community bank with local management and decision making, investing in the economic future of New Jersey by serving the needs of consumers, municipalities, and businesses," said James Peters, chairman of The Bank of New York NA, National Community Division.
 Over the Labor Day weekend, 105 branches were converted to The Bank of New York NA, National Community Division, along with 84 automated teller machines, thousands of signs, and millions of customer forms.
 Every business, municipal, and individual customer has been sent an orientation booklet welcoming them to the bank. In addition, a toll free transition hotline -- 800-241-6253 -- has been established to answer customers' questions.
 Among the new services for individuals are: new low-rate, no annual fee Consumers EdgeR credit cards; low-cost home mortgages from ARCS Mortgage Company, an industry leader; more ATMs with no transaction fees across the entire Bank of New York system; 60-minute loan approvals in person or by phone; and personalized 24-hour banking simply by calling 800-CALL-BNY.
 Business customers will benefit from higher lending limits and an array of new banking, cash management, investment and trade finance services.
 Municipalities will enjoy expanded underwriting capabilities, new approaches to cost-effective financings, enhanced cash management and investment products, and new financial advisory services.
 The bank today launched an advertising campaign across the state which will appear in local radio, newspapers, magazines and on billboards.
 "We're excited about the new products and services we are offering as a result of this merger, and we expect that many of these will be attractive to potential customers as well," said Donald L. Colby, president and chief executive officer of The Bank of New York NA, National Community Division.
 The Bank of New York NA, National Community Division, is the sixth largest commercial bank in New Jersey with assets of $4 billion, total loans of over $2 billion and 105 branches.
 The Bank of New York Company, Inc. (NYSE: BK) is the sixteenth- largest bank holding company in the country. Its principal subsidiary, The Bank of New York, is one of the largest commercial banks in the United States. Founded by Alexander Hamilton in 1784, it is the nation's oldest bank operating under its original name.
 With the National Community merger, the company now has over $45 billion in assets and nearly 400 retail branches in the greater New York suburban area.
 -0- 9/7/93
 /CONTACT: Peter Birnbaum, SVP of The Bank of New York, 201-357-7720; or Michael M. Pascale, VP, 212-495-1041, or Rhonda Barnat, AVP, 212-495-1725, both for The Bank of New York/
 (BK)


CO: National Community Bank; The Bank of New York Company, Inc. ST: New Jersey, New York IN: FIN SU:

MP -- NYTU006 -- 9258 09/07/93 10:30 EDT
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Publication:PR Newswire
Date:Sep 7, 1993
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