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1997-1998
1998
- Achieved a 20% increase in diluted earnings per share
- Increased assets 22% to nearly $3 billion
- Increased deposits by 15% to $1.7 billion
- Improved deposit mix, with transaction accounts now comprising 48% of total deposits
- Opened 4 new branch offices
- Exceeded $1.5 billion in loan originations
- Secured full banking powers in New York State and began lending in New York City
1997
- Achieved record earnings
- Surpassed $1 billion in loan originations
- Converted to commercial bank charter
- Received investment grade rating on debt issues
- Raised $70 million of subordinated debenture capital
- Entered into partnership with Trainer, Wortham & Company
- Chosen to be included in Russell 2000 Stock Index expands range of individual and business banking services
