Northfield Savings exceeds $1.5b in total assets.Northfield Northfield, city (1990 pop. 14,684), Rice co., SE Minn., near Minneapolis–St. Paul, on the Cannon River; inc. 1875. It is the trade center for a dairy and farming region. Manufactures include printed circuit boards, toys, feeds and seeds, and cereals. On Sept. 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. , Staten Island's only mutually-owned savings bank, reported that net income for the year ending December 31, 2004 reached a record high of $16.33 million, a 7.5% increase over the $15.19 million earned during the same period in 2003. Northfield Savings Bank, parent of Liberty Bank and 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 Corporation, announced that total assets as of December 31, 2004 increased $100 million from 2003 to reach an all-time high of $1.56 billion. Deposit growth also continued on an upward trend in 2004 as year-end total deposits reached a record $1.041 billion. Northfield's capital base at December 31, 2004 increased to $152 million, an increase of 10.2% over 2003. Northfield expanded its commercial lending efforts in 2004 and originated over $100 million in new commercial loans for the first time in their history. Construction loans comprised a large percentage of the total commercial loan portfolio, illustrating Northfield's commitment to filling this need in the market. John W. Alexander, Chairman of the Board and Chief Executive Officer of North field Savings Bank, commented: "We are very pleased with the positive results achieved during 2004 and are looking to build on these successes for 2005." "The growth and expansion of our commercial and construction lending both in 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 and New Jersey was a significant factor in our success in 2004. "Our ability to provide a full line of commercial lending and mortgage products coupled with the hands-on, personalized per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. service of our commercial lending officers sets us apart from the competition. As a community bank, all lending decisions are made locally by individuals who understand the marketplace and who take the time to get to know our customers." Alexander added: "Along with meeting the lending needs of our commercial customers, our business deposit products and merchant credit card processing services continue to prove to be a cost effective solution for local businesses." Albert J. Regen, President of Northfield Savings Bank, added: "The fourth quarter of 2004 saw the successful integration of the operating systems Operating systems can be categorized by technology, ownership, licensing, working state, usage, and by many other characteristics. In practice, many of these groupings may overlap. of Northfield Savings Bank and Liberty Bank. "Customers of Northfield and Liberty can now enjoy the convenience of banking at any of our 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. or New Jersey locations." "Furthermore, we have begun the process to brand our Liberty Bank branches in New Jersey as Northfield Savings Bank in early 2005. "We remain focused on growing the Northfield franchise so that we may provide the latest products and services to meet the financial needs of our customers." |
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