'On book' program keeps NCB ahead.

NCB originated over $30 million in financing during the first quarter of 2008 for 11 commercial real estate properties across the country. Casey Fannon, senior vice president of NCB's CMBS/Capital Markets, made the announcement.

"Even in light of the current credit market, NCB continues to arrange financing for commercial real estate properties across the country," said Fannon. "Fortunately for these property owners, there are banks like NCB with a portfolio lending program, offering readily available funds to assist in the acquisition of properties, refinancing existing debt and covering the cost of building upgrades."

Among the loans closed by NCB in the first quarter were a $3.6 million deal for Empire Park Plaza & East Main Merchant Plaza, Rochester; $1.1 million for Greenwich-Desbrosses Realty New York City, an 18-month, interest-only loan for refinance and building upgrades and; $3.2 million for County Estates, Larchmont, a 10-year term, 25-year amortization for the refinance of a 77-unit, multi-family property. The success of NCB's commercial real estate lending efforts is partly due to its portfolio lending product. In the second half of 2007, NCB shifted its focus from loans destined for the CMBS market to an "on-book" portfolio lending program. This flexibility has allowed the Bank to stay highly-competitive in the commercial real estate market.