Printer Friendly

NORTH SIDE SAVINGS BANK SELLS DEPOSITS OF BRANCH ACQUIRED FROM THE RESOLUTION TRUST CORPORATION (RTC)

 NORTH SIDE SAVINGS BANK SELLS DEPOSITS OF BRANCH ACQUIRED
 FROM THE RESOLUTION TRUST CORPORATION (RTC)
 NEW YORK, March 20 /PRNewswire/ -- North Side Savings Bank (NASDAQ: NSBK) President and Chief Financial Officer Thomas M. O'Brien reported today that the bank has executed a contract to sell the deposits and transfer its Garden City branch to State Bancorp Inc., parent company of State Bank of Long Island. The branch has approximately $17.0 million of deposits and was acquired by North Side from the Resolution Trust Corporation (RTC) in October, 1991. The sale is subject to regulatory approvals and is expected to be completed by June 30, 1992.
 Commenting on the sale, O'Brien stated that: "Together with the consolidation of branch deposits and sales previously announced, this transaction generally completes the consolidations and sales subsequent to our acquisition of the deposits of 10 branches from the RTC in September and October 1991. The deposits of five such branches have been consolidated with the deposits of existing North Side branches, and the deposits of three branches are in the process of being sold. North Side is operating two branches -- Buhre Avenue, Bronx, N.Y., and Grand Avenue, Baldwin, N.Y. -- as new North Side branches. We believe that North Side has enhanced its retail operations as a result of these transactions while, at the same time, bringing to our new depositors the quality of financial services for which North Side is known.
 -0- 3/20/92
 /CONTACT: John McDermott, senior vice president of North Side Savings Bank, 516-488-6900, ext. 221/
 (NSBK) CO: North Side Savings Bank ST: New York IN: FIN SU: TNM


TS-TQ -- NY028 -- 0073 03/20/92 11:55 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 20, 1992
Words:279
Previous Article:JOHN DEERE CAPITAL $400 MILLION SHELF DEBT RATED 'A/A-' BY FITCH -- FITCH FINANCIAL WIRE --
Next Article:BRITISH AIRWAYS PARTNER IN DEUTSCHE BA LAUNCH, CONSORTIUM ACQUIRES GERMAN REGIONAL AIRLINE
Topics:


Related Articles
CHEMICAL ASSUMES CENTRAL FEDERAL'S INSURED DEPOSITS
LENNAR AND MORGAN STANLEY WIN RTC BID
ATLANTIC FEDERAL SAVINGS BANK ACQUIRES ANNAPOLIS BRANCH OF AUGUSTA FEDERAL SAVINGS ASSOCIATION
FIRST FEDERAL BANK ANNOUNCES THE ACQUISITION OF THE FORMER IRVING FEDERAL BANK'S ARLINGTON HEIGHTS OFFICE
CRESTAR ACQUIRES DEPOSITS FROM RTC AS RECEIVER FOR PIEDMONT FEDERAL SAVINGS ASSOCIATION
WILMINGTON TRUST ACQUIRES THE SALISBURY BRANCH OF JOHN HANSON FEDERAL SAVINGS BANK
FIRST FIDELITY BUYS 4 BRANCHES OF MARYLAND'S JOHN HANSON FSB FROM RTC
/REPEATING FROM FRIDAY'S FILE/
HOME SAVINGS OF AMERICA HAS ACQUIRED FIVE BRANCHES OF GUARDIAN FEDERAL SAVINGS ASSOCIATION
HOME SAVINGS OF AMERICA ACQUIRES 23 BRANCHES OF WESTERN FEDERAL SAVINGS BANK

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters