New York Community Bank
| File:Nycbank.gif | |
| Company type | Savings Bank |
|---|---|
| Industry | Banking |
| Founded | 1859 |
| Headquarters | Westbury, NY, USA |
| Products | Banking |
| Website | www.mynycb.com |
New York Community Bank (NYCB) is the savings bank subsidiary of the publicly traded company New York Community Bancorp. New York Community Bancorp is the fourth largest thrift in the United States and the largest in New York State.[1] It is also the leading producer of multi-family loans for portfolio in New York City.[2]
NYCB was founded in 1859 in Flushing, Queens as Queens County Savings Bank, and changed their name on December 15, 2000 to New York Community Bank to better reflect their market area beyond Queens.
NYCB serves New York City, Long Island, and Westchester County through its Queens County Savings Bank, Richmond County Savings Bank, Roosevelt Savings Bank, Roslyn Savings Bank, and CFS Bank divisions. Additionally, NYCB operates one branch, in Co-op City in the Bronx under the New York Community Bank name. It serves northern New Jersey through its newly formed Garden State Community Bank division, which consolidated four divisions: First Savings Bank of New Jersey, Ironbound Bank, Penn Federal Savings Bank, and Synergy Bank. Customers of NYCB can make transactions at any branch regardless of division.
Additionally, New York Community Bancorp has a second, commercial banking subsidiary, New York Commercial Bank (formerly Long Island Commercial Bank), which operates two divisions, New York Commercial Bank and Atlantic Bank of New York.
Divisions
New York Community Bank operates branches under the following divisional brands:
| File:Qcsbank.gif | Queens County Savings Bank, founded April 14, 1859, is the oldest and original part of NYCB. It was also the first bank in Queens. QSCB has 34 branches throughout Queens. |
| File:Rooseveltsb.gif | Roosevelt Savings Bank, established in 1895 as "Eastern District Savings Bank", they changed their name in 1920 in honor of President Theodore Roosevelt. They serve Brooklyn with its 8 branches. |
| File:Rsbank.gif | Roslyn Savings Bank, established in 1875, was the first bank in Nassau County. They currently serve Nassau and Suffolk Counties through its 57 branches. |
| File:Cfsbank.gif | CFS Bank, founded on August 14, 1889, as "Columbia Savings and Loan Association, later changed its name to "Columbia Federal Savings Bank". In 1997 they shortened their name to the current "CFS Bank", which could be an acronym for its former name, or also "Convenient Financial Services", and currently "Complete Financial Services". Of their 6 branches, 4 are in Westchester County and one in the Bronx and one in Manhattan. The Manhattan branch, located in a Pathmark store in Lower Manhattan, is NYCB's only Manhattan branch. However, the New York Commercial Bank acquisition of Atlantic Bank of New York, has added 5 branches, which despite operating under the Commercial Bank's charter, are accessible to the Community Bank's customers. |
| File:Rcsbank.gif | Richmond County Savings Bank was founded on October 20, 1886 in the Odd Fellows Building on the corner of Richmond Terrace and Broadway, and joined NYCB in July 2001. They serve Staten Island with 23 branches throughout Staten Island. |
| File:Firstsavingsnj.gif File:Ironboundbank.gif | In December 2007, NYCB created its Garden State Community Bank division to consolidate its four New Jersey divisions - First Savings Bank of New Jersey, Ironbound Bank, Penn Federal Savings Bank, and Synergy Bank - into one division. The change will take effect in the first quarter of 2008.
First Savings Bank of NJ has four branches exclusively in the City of Bayonne, NJ. It was founded in 1889 and joined NYCB in July 2001. Ironbound Bank serves Essex and Union Counties in New Jersey through four branches. It was named for the section of Newark, NJ in which it was founded, in 1988. It joined NYCB in 2001. On April 2, 2007, NYCB acquired Penn Federal Savings Bank, adding branches in East Central and North East New Jersey. In 1941, 11 building and loan associations in the Ironbound section of Newark consolidated under the name of Penn Federal Savings and Loan Association. The S&L later changed its name to Penn Federal Savings Bank, to associate the bank with the community's centerpiece, Penn Station. On October 1, 2007, NYCB acquired Synergy Bank of Cranford, New Jersey. Synergy Bank began in the early 1950s, when employees of one of New Jersey’s major pharmaceutical firms formed a federal credit union. In 1998, the credit union’s members voted to convert to a savings institution. In late 2007, NYCB purchased Synergy Bank, a former credit union established in the early 1950s, which has branches throughout northern and central New Jersey. In March of 2009, NYCB will rebrand the Synergy branches to Garden State Community Bank. All Synergy customers' accounts will then be transfered to the NYCB system and will be accessible at any Garden State Community bank branch. |
Citations
- ^ SNL DataSource, http://www.snl.com/bank/
- ^ SNL DataSource, http://www.snl.com/bank/