Exhibit
      99.1





For
                Immediate ReleaseDate:November
                22, 2006Contact:
            Mary
                Beth Steiginga,Assistant
                Secretary630
                Godwin AvenueMidland
                Park, NJ 07432201-
                444-7100





**PRESS
      RELEASE**





**Stewardship
      Financial Corporation Announces the Retirement of Arie Leegwater as**


**Chairman
      and the Appointment of William C. Hanse as the new
      Chairman**





Robert
      J.
      Turner, Corporate Secretary of Stewardship Financial Corporation (the
      Corporation), parent of Atlantic Stewardship Bank (the Bank), Midland Park,
      New
      Jersey announced this date the retirement of Arie Leegwater as Chairman of
      the
      Board of both the Corporation and the Bank. Leegwater, who has served as
      Chairman since 1993, will continue to serve as a Director of the Corporation
      and
      the Bank





Director
      Leegwater commented, “It has been a privilege to serve as Chairman of this
      unique Christian organization and I look forward to helping the Bank and the
      Corporation grow while continuing to serve on the Loan and Site Selection
      Committees of the Board.” Under Leegwater’s term as Chairman, the Bank grew from
      two branches to ten with our eleventh branch planned to open in Wyckoff during
      the second quarter of 2007 and total assets grew from $75.5 million to $509.1
      million during this time.





The
      Board
      of Directors appointed William C. Hanse as Chairman of the Board of Directors
      for the Corporation and the Bank. Chairman Hanse is a partner in the law firm
      of
      Hanse and Hanse Esq. located in Wayne, New Jersey. Chairman Hanse was one of
      the
      Bank’s original organizers and served as a Director and the Bank’s legal Counsel
      since the Bank’s inception. Chairman Hanse currently serves on the Executive
      Committee, Nominating Committee, Investment Committee, and the Site Selection
      Committee. Chairman Hanse’s community involvement includes serving as a member
      and past president of the Wayne Township Council, past president of the Eastern
      Christian School Association Board of Directors, member of the Board of
      Directors of the Florence Christian Home in Wayne, New Jersey, member of the
      Board of Directors of the Paterson Boy’s Club, Chairman of the Wayne (Economic
      Development) Industrial Commission, member of the Board of Managers of the
      Lord’s Day Alliance of the United States, member of the Board of Governors and
      the Wayne Township Republican Organization, member of the elected Wayne
      Republican County and Municipal Committee, and member and Elder of the Grace
      Presbyterian Church in Wayne, New Jersey.





Chairman
      Hanse stated, “I am honored to serve as Chairman of Stewardship Financial
      Corporation as well as the Atlantic Stewardship Bank. I have confidence in
      the
      Board of Directors to meet the challenges of the current economic climate and
      help the Corporation grow profitably.”





President
      and Chief Executive Officer, Paul Van Ostenbridge stated, “We are all extremely
      grateful to Director Arie Leegwater for his leadership skills and his dedication
      to our unique Tithing Program as well as his commitment to our shareholders
      and
      the communities we serve. We welcome William C. Hanse as Chairman. He has been
      a
      strong contributing Director since the Corporation’s inception. Chairman Hanse
      has a strong vision for the Corporation and the Bank and we look forward to
      working with him in his new capacity.”





Stewardship
      Financial Corporation trades under the symbol SSFN on the OTC Bulletin
      Board.





Stewardship
      Financial Corporation’s subsidiary, the Atlantic Stewardship Bank, has banking
      offices in Midland Park, Hawthorne (2), Montville, Pequannock, Ridgewood,
      Waldwick, and Wayne (3), New Jersey. The 11 th branch
      is expected to open in Wyckoff, New Jersey during the second quarter of 2007.
      The bank is known for tithing 10% of its pre-tax profits to Christian and local
      charities. We invite you to visit our website at www.asbnow.com for additional
      information.





*This
      information disclosed in this document contains certain “forward looking
      statements” within the meaning of the Private Securities Litigation Reform Act
      of 1995, and may be identified by the use of such words as “believe,” “expect,”
“anticipate,” “should,” “plan,” “estimate,” and “potential.” Examples of forward
      looking statements include, but are not limited to, estimates with respect
      to
      the financial condition, results of operation and business of the Corporation
      that are subject to various factors which could cause actual results to differ
      materially from these estimates. These factors include: changes in general,
      economic and market conditions, legislative and regulatory conditions or the
      development of an interest rate environment that adversely affects the
      Corporation’s interest rate spread or other income anticipated from operations
      and investments.*