**DATE:**  October 25, 2000

**CONTACTS:**	Richard F. Komosinski, President and CEO
                        Joseph D. Roberto, Senior Vice President, Treasurer and CFO

**PHONE:**  914-965-2500

**FOR IMMEDIATE RELEASE**

Yonkers, New York - October 25, 2000 Yonkers Financial Corporation (NASDAQ: YFCB) (the
"Company"), the holding company for The Yonkers Savings and Loan Association, FA, reported for the
fiscal year ended September 30, 2000 diluted earnings per common share was $1.53, an increase of 37.8%
compared to $1.11 in the prior year period.  Net income for the fiscal year ended September 30, 2000
amounted to $3.1 million, an increase of 17.9% from last year.  For the quarter ended September 30, 2000
diluted earnings per common share was $0.38, an increase of 26.7% compared to $0.30 reported for the
quarter ended September 30, 1999. Net income increased by 15.5%, or $104,000, to $777,000.

The Company also announced that the Board of Directors, at its October 14, 2000 meeting, declared a cash
dividend of $0.09 per share, payable November 17, 2000 to holders of record as of November 6, 2000.  The
dividend represents the Company's eighteenth consecutive quarterly cash dividend since converting to stock
form.  The Company paid cash dividends for the full year of $0.36 per share which represented an increase
of 12.5% over the previous year.

Commenting on the Company's results Richard F. Komosinski, the Company's President and Chief
Executive Officer, said, "We are pleased with our solid financial results for fiscal 2000. Growth in earnings
per share and loans receivable has been dramatic with total outstanding loans now equal to $366.0 million
or 22.2% higher that at September 30,1999. We feel the substantial increases we have experienced in loan
growth and earnings are consistent with our commitment to enhancing shareholder value.  Despite achieving
rapid growth in our loan portfolio, our loan quality remains high with non-performing loans totaling
$123,000 or 0.03% of total loans receivable compared to $755,000 or 0.25% at September 30, 1999."

The Company also announced that its annual meeting date is scheduled for Thursday, January 25, 2001.

Total assets at September 30, 2000 amounted to $522.9 million, an increase of $65.2 million, or 14.2%, from
$457.7 million at September 30, 1999. Asset growth during the period was funded primarily through growth
in the Company's deposit base relating to the expansion of its retail franchise, as well as proceeds from
borrowings under Federal Home Loan Bank ("FHLB") advances and securities repurchase agreements.
Deposits increased $52.1 million to $325.1 million at September 30, 2000 from $273.0 million at September
30, 1999. Total borrowings increased by $9.5 million to $157.4 million at September 30, 2000 from $147.9
million at September 30, 1999.

Stockholders' equity increased to $34.9 million at September 30, 2000 from $32.0 million at September 30,
1999, while the ratio of stockholders' equity to total assets decreased to 6.7% from 7.0% at September 30,
1999.  Book value per share increased to $15.65 at September 30, 2000 from $14.30 at September 30, 1999.

Net interest income for the fiscal year ended September 30, 2000 was $14.0 million, an increase of $2.0
million or 15.9% over the same period in the prior year. Net interest income for the three months ended
September 30, 2000 was $3.5 million, an increase of $233,000, or 7.2%, from $3.2 million for the same
period in 1999. These increases reflect the positive effect on net interest income of higher average interest-earning assets, primarily attributable to the investment of proceeds from deposit growth and borrowings,
partially offset by a decline in the average interest rate spread. The average interest rate spread for the fiscal
year and the three months ended September 30, 2000 was 2.47% and 2.34%, respectively, compared to
2.66% and 2.86% for the respective 1999 periods. The interest margin for the three months and fiscal year
ended September 30, 2000 was 2.72% and 2.80%, respectively, compared to 3.16% and 3.13% for the
respective 1999 periods.

Non-interest income for the fiscal year ended September 30, 2000 was $1.6 million, an increase of 37.7%
over the same period in the prior year. Non-interest income for the three months ended September 30, 2000
was $450,000, an increase of 73.1% over the same period in the prior year.  The net increases in both periods
primarily reflect increases in service charges and fee income attributable to increases in transaction volume
as well as fee income generated from our annuities and mutual funds sales program launched in fiscal 2000.

Non-interest expense for the fiscal year ended September 30, 2000 increased $1.6 million to $10.3 million
compared to $8.7 million in the prior year. For the three months ended September 30, 2000 non-interest
expense increased $155,000 to $2.6 million compared to $2.4 million for the three months ended September
30, 1999. These increases primarily reflect increased costs associated with (i) the establishment of three new
in-store branches during the fiscal year ended September 30, 1999 and (ii) costs associated with the proxy
fight that was concluded in January of this year.

The Company was organized in 1995, as the holding company for the Association.  The Association
currently serves the financial needs of communities in its market area through four traditional retail offices
and one lending center located in Yonkers, New York and five in-store branches, located in Wappingers
Falls, Yorktown Heights, Mt. Vernon, Cortlandt Manor and Poughkeepsie, New York.  The Company's stock
trades on The Nasdaq Stock Market under the symbol **"YFCB".**

This news release contains various forward-looking statements consisting of estimates with respect to the financial
condition, results of operations and business of the company and the bank.  These estimates are subject to various factors
that could cause actual results to differ materially from these estimates.  These factors include, but are not limited to,
(i) the effect that an adverse movement in interest rates could have on net interest income, (ii) changes in customer
preferences for our products and services, (iii) changes in national and local economic and market conditions, (iv) higher
than anticipated operating expenses, (v) a lower level of or higher cost for deposits or a higher cost for borrowings than
anticipated, (vi) changes in accounting principles, policies or guidelines, and (vii) legislation or regulations adversely
affecting the bank or the  company.

|**YONKERS FINANCIAL CORPORATION AND SUBSIDIARYCONSOLIDATED BALANCE SHEETS(Unaudited)(In thousands, except share data)**    
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|                                                                                                                           
|                                                                                                                           
|                                                                                                                           
|**ASSETS**                                                                                                                 
|Cash and cash equivalents:                                                                                                 
|Cash and due from banks                                                                                                    
|Total cash and cash equivalents                                                                                            
|Securities:                                                                                                                
|Available for sale, at fair value (amortized cost of $ 116,858 at    September 30, 2000 and $120,996 at September 30, 1999)
|Held to maturity, at amortized cost (fair value of  $ 16,081 at    September 30, 2000 and $21,959 at September 30, 1999)   
|Total securities                                                                                                           
|Real estate mortgage loans held for sale, at lower of cost or market value                                                 
|Loans receivable, net:                                                                                                     
|Real estate mortgage loans                                                                                                 
|Consumer and commercial business loans                                                                                     
|Allowance for loan losses                                                                                                  
|Total loans receivable, net                                                                                                
|Accrued interest receivable                                                                                                
|Federal Home Loan Bank stock                                                                                               
|Office properties and equipment, net                                                                                       
|Other assets                                                                                                               
|Total assets                                                                                                               
|                                                                                                                           
|**LIABILITIES AND STOCKHOLDERS' EQUITY**                                                                                   
|Liabilities:                                                                                                               
|Deposits                                                                                                                   
|Securities repurchase agreements                                                                                           
|FHLB advances                                                                                                              
|Other liabilities                                                                                                          
|Total liabilities                                                                                                          
|                                                                                                                           
|Commitments and contingencies                                                                                              
|                                                                                                                           
|Stockholders' equity:                                                                                                      
|Preferred stock (par value $0.01 per share; 100,000    shares authorized; none issued or outstanding)                      
|Common stock (par value $0.01 per share: 4,500,000shares authorized; 3,570,750 shares issued)                              
|Additional paid-in capital                                                                                                 
|Unallocated common stock  held by employee stock    ownership plan                                                         
|Unamortized awards of common stock under  management    recognition plan                                                   
|Treasury stock, at cost ( 1,342,011 shares in 2000    and 1,332,011 shares in 1999)                                        
|Retained income, substantially restricted                                                                                  
|Accumulated other comprehensive(loss)                                                                                      
|Total stockholders' equity                                                                                                 
|Total liabilities and stock holders' equity                                                                                
|                                                                                                                           
|See accompanying notes to consolidated financial statements                                                                

|**YONKERS FINANCIAL CORPORATION AND SUBSIDIARYCONSOLIDATED STATEMENTS OF INCOME(Unaudited)(In thousands, except per share data)**
|---------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                 
|                                                                                                                                 
|                                                                                                                                 
|Interest and dividend income:                                                                                                    
|Loans                                                                                                                            
|Securities                                                                                                                       
|Other earning assets                                                                                                             
|Total interest and dividend income                                                                                               
|Interest expense:                                                                                                                
|Deposits                                                                                                                         
|Securities repurchase agreements                                                                                                 
|FHLB advances                                                                                                                    
|Total interest expense                                                                                                           
|Net interest income                                                                                                              
|Provision for loan losses                                                                                                        
|Net interest income after provision for loan losses                                                                              
|Non-interest income:                                                                                                             
|Service charges and fees                                                                                                         
|Net gain on sales of real estate mortgage    loans held for sale                                                                 
|Net gain on sales of securities                                                                                                  
|Other                                                                                                                            
|Total non-interest income                                                                                                        
|Non-interest expense:                                                                                                            
|Compensation and benefits                                                                                                        
|Occupancy and equipment                                                                                                          
|Data processing service fees                                                                                                     
|Federal deposit insurance costs                                                                                                  
|Other                                                                                                                            
|Total non-interest expense                                                                                                       
|Income before income tax expense                                                                                                 
|Income tax  expense                                                                                                              
|Net income                                                                                                                       
|Earnings per common share:                                                                                                       
|Basic                                                                                                                            
|Diluted                                                                                                                          

|**YONKERS FINANCIAL CORPORATION AND
SUBSIDIARYSELECTED FINANCIAL RATIOS AND OTHER
DATA(Unaudited)(Dollars in Thousands)**
|-------------------------------------------------------------------------------------------------------------------------
|                                                                                                                         
|                                                                                                                         
|                                                                                                                         
|**Performance Ratios:**                                                                                                  
|Return on average assets                                                                                                 
|Return on average equity                                                                                                 
|Average interest rate spread                                                                                             
|Net interest margin                                                                                                      
|Efficiency Ratio                                                                                                         
|Net interest income to non-interest expense                                                                              
|Non-interest expense to average assets                                                                                   
|Average interest-earning assets to average  interest-bearing liabilities                                                 
|**Capital Ratios:**                                                                                                      
|Average equity to average assets                                                                                         
|Equity to total assets at end of period                                                                                  
|Total risk-based capital                                                                                                 
|**Asset Quality and Other Data:**                                                                                        
|Non-performing loans                                                                                                     
|Real estate owned, net                                                                                                   
|Total non-performing assets                                                                                              
|Asset quality ratios:                                                                                                    
|Non-performing loans to total loans                                                                                      
|Non-performing assets to total assets                                                                                    
|Allowance for loan losses to:                                                                                            
|Non-performing loans                                                                                                     
|Total loans