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business

Herald & Untem 8 February '84

Statewide Incoifie Up

Feehan on Study Panel'

TOMS RIVER - Richard D Sutton, chairman of the board, and Joseph W. Robertson, president aed chief executive officer of Statewide Bancorp, reported net income for thj? year ended

Dec. 31 of 37,683,000 as comparedwith $5,971.000 in the prior year, an increase of 28.7 per cent. Net income per share amounted to $2.90 compared with $2.26 .in 1982 Total assets increased by

i6.l per cent from $681,401,000 at Dec. 31, 1982 to $791,445,000 at Dec. 31, 1983. Robertson indicated that the rate of return on average assets of 1.04 would be among the higher ratios in New Jersey.

On Jan. 17, 1984, Statev-ide opened its 27th branch office in Court House. This branch was acquire^ from the First Jersey National Bank South

PLEASANTVILLE - John D. Feehan, chairman and president of Atlantic Electric, has been named to a statewide blue-ribbon commission that will-study ways for non-education institutions to help improve education'in the state.

• Feehan, selected for the commission by Gov. Thomas Kean, wiK work with the 48 commission x members on how to involve business, industry and society at large in the state’s school systems.