News: Long Island

O'Brien of State Bank of Long Island named to Federal Home Loan Bank of New York board of directors

The Federal Home Loan Bank of New York board of directors has selected Thomas O'Brien to join its board. O'Brien, president and chief executive officer of State Bank of Long Island, Jericho, N.Y., will serve on the board in the current appointment term, until December 31. State Bank of Long Island is one of the largest independent commercial banks headquartered on Long Island. With a network of seventeen branch locations throughout Nassau, Suffolk, Queens and Manhattan, State Bank provides a broad range of financial solutions for commercial real estate developers and owners, small businesses, middle market companies, professional service firms, municipalities and consumers. "We are delighted that O'Brien will be joining the board of directors," said Alfred DelliBovi, president and CEO of the Federal Home Loan Bank of New York. "He is a seasoned community banker who not only understands the region and its many market segments, but he has keen insight into the overall financial services industry. We look forward to his participation on the Board and benefiting from his direction and contributions." O'Brien joined State Bank of Long Island as president and CEO in 2007, following six years serving as the President and CEO of Atlantic Bank of New York. O'Brien also served as vice chairman of North Fork Ban Corporation as well as chairman of the board, president and CEO of North Side Savings Bank. O'Brien is the immediate past chairman of the New York Bankers Association. He is an independent director for Prudential Insurance Co., a trustee of the Catholic Healthcare System of New York and Catholic Healthcare Foundation, and a trustee of Niagara University. He has been a trustee of Molloy College, a member of the National advisory board of Fannie Mae and an advisory board member for the Neighboring Housing Services of New York.
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Suffolk County IDA supports expansion of A&Z Pharmaceuticals

Hauppauge, NY The Suffolk County Industrial Development Agency (IDA) has granted preliminary approval of a financial incentive package that will assist a manufacturer in expanding its business by manufacturing more prescription (Rx) pharmaceuticals in addition to its existing over-the-counter
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The evolving relationship of environmental  consultants and the lending community - by Chuck Merritt

The evolving relationship of environmental consultants and the lending community - by Chuck Merritt

When Environmental Site Assessments (ESA) were first part of commercial real estate risk management, it was the lenders driving this requirement. When a borrower wanted a loan on a property, banks would utilize a list of “Approved Consultants” to order the report on both refinances and purchases.