City & Suburban expands in Yonkers with 13,000 s/f of headquarter space.

City & Suburban Federal Savings Bank, a market-responsive financial institution serving primarily as a multifamily and commercial property lender, recently completed a major expansion of its Yonkers, N.Y. corporate headquarters. With the expansion, the Bank now occupies the entire second floor at 3 Executive Boulevard; an estimated 13,000 s/f, representing a 50% increase over its prior space.

According to City & Suburban President Thomas W. Schettino, "Since we became a subchapter stock corporation in 1997, we have undergone steady growth and development. We have doubled our size to what now constitutes a ten branch network and expanded our loan department. To accommodate the increased activity on both the commercial lending and retail banking side, it was necessary to enhance our overall infrastructure. The larger space enables us to continue doing business as we always have--as a relationship-oriented institution with a strong focus on our customer base."

This latest announcement from City & Suburban comes on the heels of its tenth branch opening late July. Located on Crosby Ave. in the Bronx, the new branch joins five others in the Bronx, a New Rochelle branch, two Yonkers branches and a Manhattan branch.

Mr. Schettino continued, "We (Chairman Martin Berger, and the senior staff) made a strategic decision to provide our retail banking services to certain select communities and, offer our commercial real estate services across the entire New York-Metro region. We believe it was the right decision and has afforded City & Suburban the opportunity to substantially grow our asset base without sacrificing our core service quality principles as a community bank with a concentration in commercial real estate lending."