Northfield Savings Bank breaks records in 2002.Northfield Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. , the principal operating subsidiary An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. of NSB NSB National Science Board NSB New Smyrna Beach (Florida, USA) NSB Norges Statsbaner NSB Naval Submarine Base NSB National Standards Body (RSA) NSB North Slope Borough Holding Corp., announced that 2002, its 115th year in business, broke new records for the bank. "In 2002, Northfield achieved new financial milestones," stated John W. Alexander, Northfield's chairman of the board and chief executive officer, presiding over the bank's Annual Meeting at the Staten Island Staten Island (1990 pop. 378,977), 59 sq mi (160 sq km), SE N.Y., in New York Bay, SW of Manhattan, forming Richmond co. of New York state and the borough of Staten Island of New York City. Hilton Garden Inn Hilton Garden Inn is the name of a chain of hotels operated by Hilton Hotels Corporation. Hilton Garden Inns are considered to be upscale, mid-priced hotels that are designed for both business and leisure travelers. The hotel brand is similar to that of the Courtyard by Marriott brand. , Bloomfield. "As of Dec. 31, 2002, when Northfield completed its acquisition of Liberty Bank, our total assets were in excess of $1.3 billion on a consolidated basis," continued Alexander. "Our combined deposits were over $1 billion, an increase over the previous year of more than 19%, and our consolidated net worth was approximately $127 million." "Northfield's net earnings (excluding Liberty Bank's earnings) at year end were $13,862,000, an increase of nearly 23% over 2001," added Albert J. Regen, president of Northfield. According to Regen, Liberty Bancorp, Inc. (formerly Nasdaq LIBB) of Avenel, N.J., maintained seven full service branches in Middlesex and Union Counties, New Jersey. For the present times, Liberty Bank will retain its name and operate as a division of Northfield Savings Bank. When combined with the 12 full service Northfield branches on Staten Island, the Liberty acquisition brings to 19 the number of locations being operated under the umbrella of Northfield Savings Bank. |
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