THIS PAPER DOCUMENT IS BEING SUBMITTED PURSUANT TO
RULE 901 (d) OF REGULATION S-T
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Schedule 13G
Under the Securities Exchange Act of 1934
(Amendment No. 4 )*
Interchange Financial Services Corporation
(Name of Issuer)
Common Stock, Par Value $.00 per share
(Title of Class of Securities)
458447109
(CUSIP Number)
Check the following box if a fee is being paid with
this statement []. (A fee is not required only if the
filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five
percent of the class of securities described in Item 1;
and (2) has filed no amendment subsequent thereto
reporting beneficial ownership of five percent or less
of such class.)
(See Rule 13d-7.)
* The remainder of this cover page shall be filled out
for a reporting person's initial filing on this form
with respect to the subject class of securities, and
for any subsequent amendment containing information
which would alter the disclosures provided in a prior
cover page.
The information required in the remainder of this cover
page shall not be deemed to be "filed" for the purpose
of Section 18 of the Securities Exchange Act of 1934
("Act") or otherwise subject to the liabilities of that
section of the Act but shall be subject to all other
provisions of the Act (however, see the Notes).
(Continued on the following page(s))
Page 1 of 5 Pages
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Page 2 of 5
CUSIP NO. 458447109
(1) Names of Reporting Persons S.S. or I.R.S.
Identification Nos. of Above Persons:
First Union Corporation 56-0898180
(2) Check the Appropriate Box if a Member of a Group
(See Instructions)
(a)
(b)
(3) SEC Use Only
(4) Citizenship or Place of Organization:
North Carolina
Number of Shares Beneficially Owned by Each Reporting
Person with:
(5) Sole Voting Power 232,706
(6) Shared Voting Power 0
(7) Sole Dispositive Power 228,552
(8) Shared Dispositive Power 75,551
(9) Aggregate Amount Beneficially Owned by Each
Reporting Person
308,257
(10) Check if the Aggregate Amount in Row 9 Excludes
Certain Shares (See Instructions)
(11) Percent of Class Represented by Amount in Row 9
7.27 % (based on 4,240,392 shares
outstanding on 12/31/97)
(12) Type of Reporting Person (See Instructions)
First Union Corporation (HC)
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Item 1(a) Name of Issuer:
Interchange Financial Services Corporation
Item 1(b) Address of Issuer's Principal Executive
Offices:
Park 80 West/Plaza Two
Saddle Brook, NJ 07662
Item 2(a) Name of Person Filing:
First Union Corporation
Item 2(b) Address of Principal Business Office:
One First Union Center
Charlotte, North Carolina 28288-0137
Item 2(c) Citizenship:
North Carolina
Item 2(d) Title of Class of Securities:
Common Stock, Par Value $.00 per share
Item 2(e) CUSIP Number:
458447109
Item 3 If this statement is filed pursuant to Rules
13d-1(b), or 13d-2(b), check whether the
person filing is a:
(g)[X]Parent Holding Company, in accordance
with section 240.13d-1(b) (ii) (G)
Item 4 Ownership.
(a)Amount Beneficially Owned: 308,257
(b)Percent of Class: 7.27%
Number of shares as to which such person has:
(i)sole power to vote or to direct the vote
232,706
(ii)shared power to vote or to direct the
vote
0
(iii)sole power to dispose or to direct the
disposition of
228,552
(iv)shared power to dispose or to direct
the disposition of
75,551
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Page 4 of 5
Item 5 Ownership of Five Percent or Less of a Class.
Item 6 Ownership of More Than Five Percent on Behalf
of Another Person.
Not applicable
Item 7 Identification and Classification of the
Subsidiary Which Acquired the Security Being
Reported on by the Parent Holding Company.
First Union Corporation is filing this
schedule pursuant to Rule 13d-1(b)(ii)(G) as
indicated under Item 3(g). The relevant
subsidiaries are Evergreen Asset Management
Corporation (IA), Lieber & Company (IA) and
First Union National Bank, Charlotte, NC
(BK). Evergreen Asset Management Corporation
and Lieber & Company are investment advisors
for mutual funds and other clients; the
securities reported by these subsidiaries are
beneficially owned by such mutual funds or
other clients. The other First Union entity
listed above holds the security reported in a
fiduciary capacity for its respective
customers.
Item 8 Identification and Classification of Members
of the Group.
Not applicable
Item 9 Notice of Dissolution of Group.
Not applicable
Item 10 Certification.
By signing below, I certify that, to the best
of my knowledge and belief, the securities
referred to above were acquired in the
ordinary course of business and were not
acquired for the purpose of and do not have
the effect of changing or influencing the
control of the issuer of such securities and
were not acquired in connection with or as a
participant in any transaction having such
purposes or effect.
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Page 5 of 5
Signature.
After reasonable inquiry and to the best of my
knowledge and belief, I certify that the information
set forth in this statement is true, complete and
correct.
FIRST UNION CORPORATION
April 1, 1998
Date
Signature
Karen F. Knudtsen, Assistant Vice President &
Compliance Officer
