Holding company status for Park Avenue bank.
Park Avenue Bancorp is announcing it has received official approval from the Federal Reserve Bank of New York on its application to become a bank holding company Bank holding company A company that owns or has controlling interest in two or more banks and/or other bank holding companies. through its acquisition of The Park Avenue Bank.
Park Avenue Bancorp received final approval on Tuesday February 14th. This approval is pursuant to the Bank Holding Company Act of 1956, administered by the Federal Deposit Insurance Corporation (FDIC).
The Park Avenue Bank is a full-service community bank with locations in New York City and Borough Park, Brooklyn that also serves the real estate lending market.
The Park Avenue Bank is a full-service community bank also serving the real estate lending market.
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