EXHIBIT 99.1










Little Falls Bancorp, Inc.                Contact:         Leonard G. Romaine
Little Falls, New Jersey                                   President
                                                           (973) 256-6100

Skylands Community Bank                   Contact:         Michael Halpin
Hackettstown, New Jersey                                   President
                                                           (908) 850-9010

                              For Immediate Release




                LITTLE FALLS BANCORP AND SKYLANDS COMMUNITY BANK
                            AGREE TO TERMINATE MERGER


         LITTLE FALLS AND HACKETTSTOWN,  New Jersey,  November 5, 1998 -- Little
Falls Bancorp,  Inc. (Nasdaq:  LFBI) and Skylands Community Bank (Nasdaq:  SKCB)
announced today that the proposed merger between the two companies, announced on
August  12,  1998,  has been  terminated  by  mutual  agreement,  including  all
agreements relating to the proposed merger.

         Both companies recognize the possibility that certain conditions to the
closing of the merger might not be  satisfied.  Accordingly,  the Boards of both
companies  have  concluded  that  it is in the  interest  of both  companies  to
terminate the merger, and avoid any additional expenditures.

         Little Falls Bancorp, Inc.,  headquartered in Little Falls, New Jersey,
with its principal  executive  offices located in Little Falls, New Jersey, is a
savings and loan  holding  company and the parent of Little  Falls Bank.  Little
Falls Bank is a federally-chartered  savings bank, having its principal place of
business in Little Falls, New Jersey. Little Falls operates six banking offices,
located in Little  Falls,  West  Paterson,  Glen  Gardner,  Milford,  Alexandria
Township and Baptistown, New Jersey.

         Skylands  Community Bank is a commercial  bank organized under the laws
of  the  state  of New  Jersey,  having  its  principal  place  of  business  in
Hackettstown,  New Jersey. Skylands Community Bank operates six banking offices,
located in Hackettstown,  Netcong, Succasunna,  Oxford, Byram and Jefferson, New
Jersey.