NEW YORK - First New York Bank for Business said it has elected John Catsimatidis chairman.

Mr. Catsimatidis, a board member who is engineering a takeover of the $600 million-asset bank, had been chairman of the executive committee.

The previous board chairman, Martin Simon, is retaining his titles of president and chief executive officer until Mr. Catsimatidis gains regulatory approval to be CEO.

Israel Discount Bank of New York

Subsidiary of Israel Discount Bank Limited

Statement of Condition

as at June 30, 1992

AssetsCash and Due from Banks $2,447,755,000Federal Funds Sold 220,500,000U.S. Government, State & Other Securities 397,966,000Loans 1,023,142,000 Less: Allowance for Possible Loan Losses 22,202,000 Loans, Net 1,000,940,000Customers' Liability on Acceptances 12,453,000Premises & Equipment, Net 10,013,000Other Assets 35,805,000 Total Assets $4,125,432,000

LiabilitiesDeposits $3,761,832,000Acceptances Outstanding 12,453,000Other Liabilities 27,995,000Subordinated Capital Notes 25,000,000 Total Liabilities 3,827,280,000

Stockholders' EquityPreferred Stock 26,965,000Common Stock 75,259,000Surplus 24,394,000Undivided Profits 171,534,000 Total Stockholders' Equity 298,152,000 Total Liabilities & Stockholders' Equity $4,125,432,000

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