EXHIBIT 99.1






Greater Community Bancorp, and First Savings Bancorp of Little Falls, Inc.
Announce the Signing of a Definitive Merger Agreement

TOTOWA  and  LITTLE  FALLS,   N.J.--(BUSINESS  WIRE)--Sept.  8,  1998--  Greater
Community  Bancorp (NASDAQ:  (GFLS),  and First Savings Bancorp of Little Falls,
Inc.  ("First  Savings")  today  announced  the signing of a  definitive  merger
agreement.

Under the terms of the agreement, First Savings will be merged with a subsidiary
of Greater  Community  Bancorp and First  Savings  Bank of Little  Falls will be
merged into Great Falls Bank.  Each share of First Savings' common stock will be
converted  into the right to receive  $52.26 in cash,  subject to  adjustment as
provided in the agreement.

The price of $52.26 represents a value of $23 million and is approximately  222%
of book value as of June 30, 1998 and 25 times First Savings'  annualized  first
six  months  of 1998  earnings.  The  price  represents  a  deposit  premium  of
approximately 7.4% as measured relative to shareholders' equity.

Dr. Haralambos ("Bob")  Kostakopoulos,  President and Chief Executive Officer of
First  Savings  remarked,  "We are pleased to be joining with Greater  Community
Bancorp.  Their  commitment to the area and financial  strength  serves the long
term interests of our customers, employees and shareholders. We are very excited
about the combined institution going forward."

"Expanding  our  presence  into Little Falls is a  significant  move for Greater
Community  Bancorp,"  stated John L.  Soldoveri,  Chairman  and Chief  Executive
Officer of Greater  Community  Bancorp." This merger creates the  opportunity to
bring a brand of  personalized  banking  services to individuals  and businesses
that has  characterized  our growth  since we began  operating  some twelve (12)
years ago."

Consummation of the merger is subject to approval by bank regulatory authorities
and the  shareholders  of First  Savings and is expected to be  completed in the
first quarter of 1999.

Upon completion of the First Savings merger, Greater Community Bancorp will have
assets totaling $540 million, deposits totaling $460 million and will operate 15
banking offices in Bergen and Passaic Counties of New Jersey. The merger will be
accounted for as a purchase and is anticipated to have an  insignificant  impact
on earnings in 1999 and to be accretive to earnings in 2000.  On a cash earnings
basis  (excluding  the effect of the  amortization  of goodwill),  the merger is
anticipated to be accretive to cash earnings in 1999 and 2000.

Greater  Community  Bancorp is a $360 million  asset bank holding  company.  Its
banking  subsidiaries are Bergen Commercial Bank headquartered in Bergen County,
New Jersey and Great Falls Bank located in Passaic County.  In addition  Greater
Community  is the  parent  company to Greater  Community  Financial,  LLC a full
service  investment  brokerage  firm and  Highland  Capital  Corp.  an equipment
leasing  company.  First Savings  Bancorp of Little  Falls,  Inc. is the holding
company for First Savings Bank of Little  Falls,  FSB, a $180 million asset bank
which operates two branches in Little Falls and one in Little Ferry, New Jersey.

CONTACT:

George E. Irwin
President & Chief Operating Officer
Greater Community Bancorp
(973) 942-1111 Ext. 1018

or

Dr. Haralambos S. Kostakopoulos
President
First Savings Bancorp of Little Falls, Inc.
(973) 785-8300