MATHTUCK, N.Y. -- North Fork Bancorp. said it has received all of the required regulatory approvals from the Federal Reserve Bank of New York, Federal Deposit Insurance Corp., the New York State Banking Department, and the Office of Thrift Supervision to acquire Metro Bancshares.

Based upon the exchangeratio formula contained in the merger agreement, North Fork will issue 1.645 common shares for each share of Metro outstanding at the consummation date. The special shareholders' meetings to consider and vote upon the transaction is scheduled for Nov. 10, 1994. It is anticipated that the closing will take place on Nov. 30, 1994.

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