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POUGHKEEPSIE SAVINGS BANK NAMES NEW CHAIRMAN AND CHIEF EXECUTIVE OFFICER

 POUGHKEEPSIE SAVINGS BANK NAMES NEW CHAIRMAN
 AND CHIEF EXECUTIVE OFFICER
 POUGHKEEPSIE, N.Y., July 6 /PRNewswire/ -- Poughkeepsie Savings Bank, FSB (NASDAQ: PKPS) today announced that Joseph B. Tockarshewsky has been elected chairman of the board, president and chief executive officer, effective July 6, 1992.
 Tockarshewsky has an extensive commercial real estate background, including experience in lending, problem loan workouts and asset disposition. He served most recently as executive vice president and manager of the Real Estate Division of American Security Bank in Washington, D.C., where he was also a member of senior management and credit committees. Previously, he served as executive vice president and senior real estate lending officer of Carteret Savings and Loan Association in Morristown, N.J. He has also held executive positions as senior lending officer in First Federal Savings and Loan Association of New York and Irving Trust Company of New York.
 Christoph H. Schmidt resigned as chairman of the board and chief executive officer and as a director, effective July 6, 1992. He will continue with the bank as a consultant until Sept. 30, 1992 to assist Tockarshewsky with transition-related matters. The board accepted Schmidt's resignation with deep regret and expressed its gratitude for his significant contribution since he joined the bank in March 1990. The board noted that under his leadership, great strides had been made in consolidating the bank's operations and in focusing on its Mid-Hudson franchise.
 The board also announced that Patrick J. Moore, formerly president and chief operating officer, has left the bank. Moore, who joined the bank in October, 1991, had been commuting from Cleveland and chose to return to Cleveland for personal and family reasons. The board noted, with appreciation, that Moore had been instrumental in moving the bank forward in several key areas during his limited tenure with the bank.
 Poughkeepsie Savings Bank, FSB is a community banking institution whose principal market is the Mid-Hudson Valley region of New York, where it operates seven branches. Market Street Mortgage Corporation, the bank's 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- 7/6/92
 /CONTACT: Joseph B. Tockarshewsky, 914-431-6211, or Robert J. Hughes, 914-431-6386, both of Poughkeepsie Savings Bank/
 (PKPS) CO: Poughkeepsie Savings Bank, FSB ST: New York IN: FIN SU: PER


SM-KW -- NY056 -- 6746 07/06/92 16:48 EDT
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Publication:PR Newswire
Date:Jul 6, 1992
Words:402
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