News: Long Island

Spolarich promoted executive VP and chief credit officer at ENB

According to Empire National Bank's (ENB) chairman and CEO Douglas Manditch, Michael Spolarich has been promoted to executive VP and chief credit officer. He previously held the title of senior vice president and senior loan officer. "Since Michael joined the bank three years ago, his contributions have been many. This promotion reflects his achievements and importance to our senior management team," said Manditch. Prior to joining Empire National, Spolarich held the title of senior vice president, loan administration at the Bank of Smithtown. His other professional appointments include chief retail banking officer at Bridgehampton National Bank, lending officer at First National Bank of Long Island and credit department manager at Chemical Bank. His educational credentials include a BS from Cornell University and an MBA from New York University's Stern School of Business. He is also an alumnus of the American Bankers Association's Stonier Graduate School of Banking. Spolarich resides in Sag Harbor with his wife and three children. Dedicated to helping small to mid-sized privately-owned businesses, professional practices, not-for-profit organizations, municipalities and real estate professionals grow and prosper; Empire National Bank is committed to bringing the personal touch back to customer service while providing a "neighborhood" banking experience. Headquartered in Islandia, New York, Empire National Bank has branches in Port Jefferson Station, Shirley and Mineola.
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Suffolk County IDA supports expansion of A&Z Pharmaceuticals

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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.