Long Island’s Community Banksm, Gold Coast Bank, one of Long Island’s fastest-growing and financially strongest de novo commercial banks, has been granted approval from the New York State Department of Financial Services and the Federal Deposit Insurance Corporation (FDIC) to open a fourth branch, which will be located in the Town of Babylon on Allen Boulevard in Farmingdale, NY.
Appointed as the new Farmingdale branch manager is Sandy Buttacy of West Babylon, NY, who is formerly Vice President and branch manager with First National Bank of Long Island and brings seven years of banking experience and service within the Farmingdale region. The opening of Gold Coast Bank’s newest branch is set for the week of April 23, 2012, which will be followed by a commemorative grand opening celebration to be held on Tuesday, May 22, 2012 that will feature unique special events and promotions.
“True to our registered service trademark as ‘Long Island’s Community Bank,’ the Farmingdale location presents a wonderful opportunity for broadening our brand of banking, which specializes in a myriad of private-client banking type services for business owners, professionals and high-net worth individuals,” said Gold Coast Bank President and Chief Executive Officer Joseph G. Perri. “Gold Coast Bank was founded four years ago with a strategic growth plan that focused on creating a strong financial, service, sales and management foundation. Since then, we have maintained a strong capital position, which has allowed us the opportunity to expand in short order, making our vast banking and lending services more convenient and accessible for the greater Long Island
community.”
The bank, founded in March 2008, has total assets of $160 million. “Our success demonstrates that there is strong demand for our niche as a community commercial bank with exceptional customer service, providing consumers with an alternative to the regional banks and money-centers,” added Perri. “Gold Coast Bank has been especially active in extending loans, in part because it does not have a portfolio of troubled loans that some other banks are continually burdened with today.”
Gold Coast Bank was founded by a group of local business leaders who understand the challenges faced in starting, running and expanding businesses. The bank, headquartered in Islandia with current branch locations in Huntington and Setauket, provides a range of business products, including such lending products as term loans, lines of credit, and real estate loans. It also offers a number of Small Business Administration (SBA) products and traditional consumer products.
Headquartered in Islandia with individual branches located in Huntington and Setauket, Gold Coast Bank is a New York State chartered bank whose popularity and sterling reputation stems from the strong, long-term relationships it has cultivated among its large and diverse customer base. A member of the Federal Deposit Insurance Corporation (FDIC) and one of Long Island’s financially strongest de novo banks, Gold Coast Bank has more than $160 million in assets and prides itself on providing businesses and individuals with quality lending and banking services. Fulfilling a unique niche within the Long Island commercial banking sector, Gold Coast Bank delivers specialty lending capabilities in a variety of areas that include real estate, equipment finance, and lines of credit for privately owned businesses. For more information about Gold Coast Bank, please visit www.gcbny.com.
