Bridgehampton approved for bailout money
Almost every public Long Island bank has now applied for and been approved for participation in the government’s $700 billion bailout. The latest is Bridgehampton National Bank, which said today it was...
View ArticleEmpire opens third branch
De novo bank Empire National, which is based in Islandia, opened its third branch this week, its first new location since launching almost one year ago. The new branch is on Nesconset Highway in Port...
View ArticleNew rules for bailout recipients
The fears of many Long Island bankers were confirmed last week as the first stipulations were placed on banks that receive bailout money. Those banks that get money from the government will not be able...
View ArticleNew branch for Bank of Smithtown
Bank of Smithtown opened its 20th branch this week in Port Jefferson, this one across from John T. Mather Hospital. The branch is the first opened by the Hauppauge-based bank in 2009, but the fifth...
View ArticleHerald opens Melville office
The Melville office of Herald National Bank opened this week, following the de novo’s launch in November. Long Island will be home to five of Herald’s 14 total banking teams, the rest of which will be...
View ArticleLI bank shares battered
The stock market fell hard last week, to say the least, pushing some local banks’ shares to their lowest levels in more than a decade. Shares of Astoria Financial in Lake Success were beaten down to...
View ArticleBank of Smithtown in the Big Apple
Bank of Smithtown has opened its first New York City branch, located in the Chelsea section of Manhattan. The Hauppauge-based bank has been working on a move to the Big Apple for quite some time, and...
View ArticleCommunity banks really are thriving
Community banks have said they’re flourishing because of the credit crisis, and now we have the statistics to prove it. According to the Independent Community Bankers of America, more than half of the...
View ArticleMassachusetts bank doubles on LI
After spending three years in Hauppauge, Massachusetts-based First Trade Union Bank is ready to open its second New York branch, this time in New Hyde Park. Gary Lombardi, the bank’s Long Island market...
View ArticleSignature, 4 other banks pay back bailout
Signature Bank is one of the first five institutions to pay back bailout money to the U.S. government. Signature, which is based in Manhattan but has six branches on Long Island, received $120 million...
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