WEDNESDAY, OCTOBER 29, 1997

NEW YORK--The Federal Reserve Bank of New York Wednesday approved the application by Warwick Community Bancorp, Inc., Warwick, N.Y., to become a bank holding company with respect to the Warwick Savings Bank.

According to standard procedure, the proposal cannot be completed for 15 days.

The Reserve Bank acted under authority delegated by the Board of Governors of the Federal Reserve System.