FRIDAY, NOVEMBER 12, 1999

NEW YORK--The Federal Reserve Bank of New York Friday approved the application by Peapack-Gladstone Bank, NJ to merge with Chatham Savings, FSB, Chatham, NJ, and incident there to to establish branches.

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.