BankIPO.com Client Empire State Bank N.A. IO Reaches Minimum Capitalization Goal.Business Editors NEWBURGH, N.Y.--(BUSINESS WIRE)--April 15, 2004 BankIPO.com announced today that its de novo [Latin, Anew.] A second time; afresh. A trial or a hearing that is ordered by an appellate court that has reviewed the record of a hearing in a lower court and sent the matter back to the original court for a new trial, as if it had not been previously heard nor decided. client, Empire State Bank, N.A. (In Organization), has reached its minimum capitalization capitalization n. 1) the act of counting anticipated earnings and expenses as capital assets (property, equipment, fixtures) for accounting purposes. 2) the amount of anticipated net earnings which hypothetically can be used for conversion into capital assets. goal of $12.5 million within the first period, and extended the window in hopes of raising $16.5 million, the maximum amount approved by the regulators. Empire State Bank N.A. (IO) received permission from the Office of the Comptroller of the Currency The Office of the Comptroller of the Currency (or OCC) was established by the National Currency Act of 1863 and serves to charter, regulate, and supervise all national banks and the federal branches and agencies of foreign banks in the United States. on January 9, 2003, and to date has raised approximately $15.5 million. "The more capital you have the stronger you are," said Tony Costa, chairman and chief executive officer. Empire State Bank, N.A. (IO) will be headquartered at 68 North Plank Road a road surface formed of planks. See also: Plank in Newburgh, with a full-service banking center at 275 Main Street in New Paltz. The Bank intends to deliver client-focused services to individuals, professionals, and businesses in the Newburgh and New Paltz markets, including a suite of deposit and loan products, mortgage lending services, and "high-tech/high-touch" banking. Empire State Bank, N.A. (IO) has an experienced Board of Directors comprised of successful, local businesspeople who have come together to give something back to the communities they call home. These individuals, several of whom have previously served on a bank board, will do business with the Bank and refer their colleagues and friends, ensuring that Empire State Bank, N.A. (IO) will have a large client base already established before the ribbon is cut. For more information about Empire State Bank N.A. (IO), or to inquire in·quire also en·quire v. in·quired, in·quir·ing, in·quires v.intr. 1. To seek information by asking a question: inquired about prices. 2. about their offering, please visit www.bankipo.com. Investments into Empire State Bank, N.A. (IO) can be made only by obtaining a printed copy of the Offering Circular Offering Circular An abbreviated prospectus for a new security listing. Delivered to individuals and brokerage houses, these documents are issued to arouse interest in the new issue. Notes: An offering circular allows investors to access information regarding a new issue. by contacting the bank or its representatives, or downloading it from this site and following the investment guidelines guidelines, n.pl a set of standards, criteria, or specifications to be used or followed in the performance of certain tasks. stated therein. Empire State Bank, N.A. (IO) reserves the right to refuse investments they feel would remove control of the bank from the hands of the community it is chartered in. Forward-Looking Information This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . It should be reviewed in conjunction with the Empire State Bank, N.A. (IO) Offering Circular, copies of which are available from Empire State Bank, N.A. (IO) upon request. Such publicly available information provides additional information regarding risks and uncertainties related to Empire State Bank, N.A. (IO) business that should be considered in evaluating "forward-looking statements." |
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