NCB $43m deals mark 'positive note'.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. originated through its subsidiary, NCB (Network Control Block) A packet structure used by the NetBIOS communications protocol. , FSB (FrontSide Bus) See system bus.
FSB - front side bus , $42.8 million in financing during January for 23 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 cooperatives.
The financings included $28.1 million in first mortgages, plus $14.7 million in second mortgages and lines of credit. Edward Howe III, Managing Director of the NCB New York office, made the announcement.
"The new year has started off on a very positive note," commented Mr. Howe.
"During the past month, the NCB New York team generated nearly double the amount of financing activity that we did the same time last year."
NCB Senior Vice President Sheldon Gartenstein originated over $25 million in financing during January in addition to originating the Bank's largest loan of the month, an $8.0 million first mortgage and a $2.0 million line of credit for a 130-unit co-op located at 35 Sutton Place in Manhattan.
Mr. Howe arranged almost $10.0 million in financing during January, including a $2.0 million line of credit for Park City Estates Owners Corp., a 1,041-unit co-op located at 61-15, 61-25, 61-35, 61-45 and 61-55 98th Street in Rego REGO Reinventing Government
REGO Renewable Energy Guarantee of Origin (UK) Park, NY.
NCB Senior Vice President Mindy Goldstein arranged over $7.0 million in financing, including a $1.8 million first mortgage and a $500,000 line of credit for Fowler Court, a 51-unit co-op located at 400 Riverside Drive in Manhattan.