The turbulent waters at Rochester Community Savings Bank we roiled again Thursday with the announcement that its president had resigned.

The upstate New York thrift, which is battling takeover bids and loan problems, said Lowell C. Patric, 48, resigned Wednesday day after 25 years at the company. He became president and chief operating officer in 1991.

Rochester Community, with $4 billion of assets, will not replace Mr. Patric, a company spokeswoman said. His duties are being assumed by. Leonard S. Simon, 56, the thrift's chairman and chief executive. Neither Mr. Patric nor Mr. Simon returned calls for comment.

Buyout Bid Confirmed

Rochester Community caught the attention of investors in May amid rumors of an imminent takeover. The thrift confirmed receiving an "indication of interest" from an unnamed party, and later stated its desire to remain independent.

The takeover talk drove Rochester Community's stock up to $21.50 a share in late May. On Thursday afternoon, its shares were trading at $14.625, down 25 cents.

To support its independence, the thrift unveiled a recapitalization plan in June that resulted in the sale of $71 million of convertible referred stock. It also said it will sell $174 million of nonperforming assets - primarily commercial realty. Separately, thrift sold $56.7 million of other nonperformers since the end of the second quarter, the company spokeswoman said.

Likely Suitors

Takeover rumors persist, however. Neighboring banks such as Keycorp and First Empire State Corp. - as well as New Jersey-based First Fidelity Bancorp. - have been mentioned as buyers, said John A. Chepak, an analyst at Thomas James Associates, a brokerage firm in Rochester.

The thrift's attraction lies in its dominant deposit market share in Rochester. home of Eastman Kodak. Rochester Community has 22 branches in the city, six in Buffalo, and 16 in New Jersey through its ownership of Shadow Lawn Savings Bank.

Rochester Community's problem assets - which stood at 6.95% of total assets on May 31 - caused Standard & Poor's Corp. to rate its preferred issue a below-investment-grade B-plus.

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