for the three months ended September 30, a gain of 77 percent made over the same period last year.

Chief Financial Officer Edward Gomez said the gain reflected continued growth of core businesses and the impact on 1996 costs of restructuring the bank's treasury portfolio.

"Total revenues increased by 24 percent from the prior year,'' he said in a press release. "Fees were up 21 percent worldwide, with continued growth coming from our Far East and European operations. In particular, revenues from corporate trust and investment services were up, with Le Masurier, James & Chinn, the bank's recently acquired brokerage in Jersey, contributing to that increase.'' Mr. Gomez noted the bank is monitoring the impact on revenues from the recent decline in the Far East stock markets.

Expenses during the first quarter were 12 percent higher than first quarter 1996 due to increased costs from the bank's growth overseas. The bank has recieved a Moody's Investors Service rating of A2 and Prime-1 for long-term and short-term deposits, and a financial strength rating of C.