Exhibit 99(a)

FOR IMMEDIATE RELEASE

GARDEN STATE BANCSHARES, INC. REPORTS FIRST QUARTER EARNINGS

JACKSON, NEW JERSEY ... April 18, 1995 ... Garden State BancShares, Inc.
(NASDAQ:GRDN) reported net income of $651,069 for the first quarter of 1995
compared to $380,505 for the first quarter of 1994.  On a per share basis,
first quarter 1995 earnings were $.21 compared to $.22 per share for the
same period last year.  The decrease in per share earnings was due to the
additional shares issued in the 1994 stock offering.  Total average shares
outstanding in the first quarter of 1995 were 3.0 million compared to 1.7
million in the first quarter of 1994.

According to Theodore D. Bessler, President and Chief Executive Officer of
Garden State BancShares, Inc. and its principal subsidiary, Garden State
Bank, "The improvement in first-quarter earnings reflects our success last
year in dramatically improving the net interest margin.  We achieved this
by raising new capital, reducing nonperforming assets and improving loan
quality." The net interest margin, or difference between the rate earned on
assets and the rate paid on deposits, increased during the quarter to 5.23
percent from 4.82 percent in the first quarter of 1994.

Total nonperforming assets were $8.6 million at March 31, 1995, up slightly
from the $8.3 million reported at December 31, 1994, but down $7.4 million
or 46.11 percent from a year ago.

At March 31, 1995, the allowance for loan losses totaled $4.4 million,
compared to $4.2 million at December 31, 1994, and $4.6 million at March
31, 1994.  The loan loss allowance represented 2.01 percent of loans,
compared to 1.97 percent at December 31, 1994 and 2.41 percent at March 31,
1994.

Garden State BancShares, Inc. had total assets of $316.3 million at March
31, 1995, compared to $306.4 million at December 31, 1994, and $301.6
million at March 31, 1994.  Total deposits increased to $287.8 million, up
$17.6 million and $5.1 million from December 31, 1994, and March 31, 1994,
respectively.  Loans were $220.0 million at March 31, 1995, compared to
$213.6 million at December 31, 1994, and $190.4 million at the end of the
first quarter of 1994.  Total equity capital at March 31, 1995, was $26.6
million.  The Company exceeded all minimum regulatory requirements for
capital adequacy: The ratio of total capital to risk-adjusted assets was
14.91 percent; the ratio of Tier 1 capital to risk-adjusted assets was
13.66 percent; and the Tier 1 leverage capital ratio was 8.46 percent.



On March 21, 1995, the Federal Reserve Bank informed Garden State
BancShares, Inc. that it had lifted the existing Memorandum of
Understanding (MOU) with the Company.  In April, the FDIC and New Jersey
Department of Banking concluded regulatory examinations of Garden State
Bank as of year end 1994; the regulators thereafter advised the Board of
Directors of the Bank that the MOU entered into on June 30, 1994, with the
Bank, would be rescinded by formal notice shortly.  Bessler stated, "We
believe the lifting of these regulatory orders is an acknowledgement of the
significant improvements we have made in asset quality, earnings and
capital."

The common stock of Garden State BancShares, Inc. is listed on the NASDAQ
Small-Cap Market under the symbol GRDN.  On September 15, 1994, Garden
State BancShares' stock began trading on the Boston Stock Exchange under
the symbol GSB.

Garden State BancShares, Inc. is a bank holding company headquartered in
Jackson, New Jersey.  The Company's principal subsidiary, Garden State
Bank, is a full-service, FDIC-insured commercial bank serving Monmouth and
Ocean Counties.  The Bank operates eight offices in Brick, Jackson,
Lakewood, Manasquan, Toms River and Whiting.  A new branch will be coming
soon to Seaside Heights.