TUESDAY, JANUARY 11, 2000

NEW YORK--The Federal Reserve Bank of New York Tuesday approved the application by Associated Community Bancorp, Inc., Greenwich, CT, to become a bank holding company with respect to The Greenwich Bank and Trust Company, Greenwich, CT, and Westport National Bank, Westport, CT.

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.