Healthy start to the year for NCB.National Cooperative Bank The National Consumer Cooperative Bank (NCCB) was created and chartered by the National Consumer Cooperative Bank Act (92 Stat. 499, 12 U.S.C.A. 3001), enacted on August 20, 1978. The bank is directed by the act to encourage the development of new and existing cooperatives. (NCB (Network Control Block) A packet structure used by the NetBIOS communications protocol. ), the nation's leading provider of financing to housing cooperatives A housing cooperative is a legal entity - usually a corporation - that owns real estate; one or more residential buildings. Each shareholder in the legal entity is granted the right to occupy one housing unit, sometimes subject to an occupancy agreement, which is similar to a lease. and condominiums, originated through its subsidiary, NCB, FSB (FrontSide Bus) See system bus. FSB - front side bus , $24.1 million in financing during January for 17 New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of area properties. The financings included $18.6 million in first mortgages plus $5.5 million in lines of credit. Edward Howe III, Managing Director of the NCB New York office, made the announcement. "January's lending activity illustrates our ability to deliver financing packages tailored to the individual needs of New York area housing cooperatives," commented Mr. Howe. "We are off to a healthy start for 2006." Mindy Goldstein, NCB's senior vice president, arranged over $12.6 million in financing for area cooperatives in January, including the largest loan of the month, a $4.6 million first mortgage and a $400,000 line of credit for a 155-unit co-op located at 505 Central Avenue in White Plains. NCB's senior vice president Sheldon Gartenstein originated over $11.5 million in loans during January. |
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