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POUGHKEEPSIE SAVINGS BANK DIRECTOR RESIGNS

 POUGHKEEPSIE SAVINGS BANK DIRECTOR RESIGNS
 POUGHKEEPSIE, N.Y., May 18 /PRNewswire/ -- Christoph H. Schmidt,


chairman and chief executive officer of Poughkeepsie Savings Bank, FSB, today announced that Lee Balter has informed the bank that for personal reasons he no longer wishes to serve as a director. As a result of Balter's decision, the membership of the board has been reduced from ten to nine members.
 Balter was elected as a director of the bank by its shareholders on April 29, 1992 subject to receipt of a notice of non-objection from the Office of Thrift Supervision, the bank's primary regulator. This notice of non-objection was received from the OTS.
 Poughkeepsie Savings Bank is a community banking institution whose principal market is the Mid-Hudson Valley region of New York, where it operates eight branches. Market Street Mortgage Corporation, its Tampa- based mortgage banking subsidiary, has loan production offices in Florida, North Carolina, Georgia, Virginia and Maryland. The bank's deposits are insured by the Federal Deposit Insurance Corporation.
 -0- 05/18/92
 /CONTACT: Christoph H. Schmidt, 914-431-6211 or Robert J. Hughes, 914-431-6386, both Poughkeepsie Savings Bank/
 (PKPS) CO: Poughkeepsie Savings Bank, FSB ST: New York IN: FIN SU: PER


KD -- NY084 -- 1541 05/18/92 17:32 EDT
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Publication:PR Newswire
Date:May 18, 1992
Words:205
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