MONDAY, NOVEMBER 16, 1998

NEW YORK—The Federal Reserve Bank of New York Monday approved the application by Ridgewood Financial MHC, and Ridgewood Financial, Inc., both of Ridgewood, NJ, to become bank holding companies with respect to Ridgewood Savings Bank of New Jersey.

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.