GREAT NECK, N.Y., June 27, 2012 /PRNewswire/ -- Community National Bank (CBNY.OB), the fastest-growing commercial community bank in the New York tri-state area, has continued the expansion of its branch operations with the opening of a 2,400-square-foot, full-service branch at 12 East 52nd Street (between Madison and Fifth Avenues) on June 18th. The grand opening of the Great Neck, Long Island based bank's 10th branch in midtown Manhattan represents a natural evolution for the bank, which has recently experienced a successful track record of growth throughout Nassau, Suffolk and Queens Counties.
With its commercial loan business increasing nearly 35% and deposit growth almost 30% over the last year, the Bank's entry into the Midtown market offers area businesses and private customers convenient access to a full suite of banking products and personalized services, including loan officers at each branch who are authorized to make quick, independent loan decisions without having to go through out-of-state loan committees.
Community National Bank customers can also enjoy free online banking and cash management services, remote deposit capture, and 24-hour ATM access. More than just another bank opening in the neighborhood, Community National Bank's entry into the midtown market is anticipated to have a major impact on area business, helping boost business development as a commercial banking partner. A well-managed $500-million asset bank, Community National Bank's focus is on maintaining strong customer relationships and offering customized, personalized service.
Bank Chairman, President and CEO, Stuart H. Lubow, presided over the ribbon-cutting ceremony which was held on June 20th and led the festivities, welcoming area dignitaries and community leaders to the new branch. "Community National Bank has enjoyed phenomenal success on Long Island and in Queens, and has established a foothold in New York City through our branch-based commercial loan officers. With the opening of this new full-service branch, we offer a unique brand of personalized service and fast turnaround on loans to customers throughout Manhattan that larger institutions simply can't compete with. We are delighted to open our first branch here and look forward to bringing our style of community making to the Big Apple," he said.
The ribbon-cutting ceremony drew attendance from members of the local business community and representatives from commerce and government. Hilary Nemchik, Director of Special Events, Office of the Manhattan Borough President stated, "It was a tremendous event and it is great to see Community National expanding into Manhattan."
"We congratulate Community National Bank and welcome them to New York City. We are thrilled to have more community banks in New York City and love when customers have the opportunity to choose from a wide range of banking services," said Karen Armstrong, Vice President of Communications and Political Action for the New York Bankers Association.
About Community National Bank
Community National Bank (CNB) is a Long Island-based independent, community, commercial bank operating nine locations throughout Nassau, Suffolk and Queens counties. CNB offers a full range of modern financial services, backed by state-of-the-art technology. In addition to commercial loans, commercial mortgages, small business loans and lines of credit, residential mortgages, CNB also provides a complete selection of traditional personal and commercial deposit products such as no fee individual and business checking accounts, IRA accounts and statement savings. As a Small Business Administration (SBA) preferred lender, CNB also offers special loan and financial management programs designed to help small and medium-sized businesses succeed.
Community National Bank is a member of the FDIC and is an Equal Housing/Equal Opportunity Lender. For more information about Community National Bank, visit the Bank's website at www.cnbny.com.
SOURCE Community National Bank