Business & Tech
Investor’s Bank to Add Locations
Bank set to expand beyond only Long Island location in Mineola.
Long Islanders will be seeing a few more of the green Investor’s Bank signs popping up after the Short Hills N.J.-based company announced last week its acquisition of Brooklyn Federal Bancorp, Inc., a holding company for Brooklyn Federal Savings Bank.
According to the :
All five Brooklyn Federal Savings Bank branches will be opening with new Investors Bank signage on Jan. 23. Investors Bancorp is the holding company for Investors Bank.
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In addition to its Commack location, Brooklyn Federal Savings Bank also has branches in Wantagh, Islandia and two in Brooklyn that will also see its conversion to Investors Bank completed on Jan. 23.
Currently, Mineola is the home to the on Long Island.
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Brooklyn Federal Savings Bank has seen struggles during the recent global financial meltdown losing $36.1 million in assets and $24.2 million in deposits during a one-year period as of Sept. 30, 2011, according to BankTracker. Investors Bancorp entered into a separate agreement last year with a real estate investment fund to sell most of Brooklyn Federal Bancorp's commercial real estate loan portfolio.
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