WHITE PLAINS, NY (January 12, 2015). The Westchester Bank is pleased to announce a major milestone in its growth which coincides with industry accolades further defining the Bank’s continued success. The Westchester Bank surpassed $500 million in assets for the first time in November of 2014 with current total assets now exceeding $523 million. This represents an increase in assets of $96.5 million or a 23% increase over the same period a year ago. As the number one community bank in Westchester County, the Bank was awarded the prestigious Bauer Five-Star Rating for a third consecutive year and was recently selected one of the Top 200 Healthiest Banks in America by DepositAccounts.com.
John M. Tolomer, President & CEO of The Westchester Bank stated, “We continue to outpace our most aggressive projections. The Bank’s sustained financial performance is a testament to our team members’ steadfast commitment to providing world class customer service combined with the best banking solutions to meet the varied needs of each client.” Mr. Tolomer continued, “While exceeding half-a-billion dollars in assets is a remarkable milestone in such a short time, the credit belongs to each person in our organization who understands the importance of customer relationships and the critical role it has played in building our business to where it is today. It’s also a welcomed honor to be recognized by the gold standard in our industry with a Bauer 5-Star Rating and to be voted as one of America’s Healthiest Banks. Westchester remains a vibrant business community poised for further growth and we’ll continue to execute the Bank’s business model of Banking Made Personal. I am optimistic The Westchester Bank will continue to sustain its current growth trajectory,” concluded Tolomer.
The Westchester Bank is a New York State Chartered and full service FDIC insured commercial bank offering state-of-the-art technology with a comprehensive line of banking products to businesses and consumers including: business and personal checking, business lending, commercial mortgages, savings accounts, CD’s, money market accounts, Interest on Lawyer Accounts (IOLA), attorney escrow accounts and tenant security accounts. The Westchester Bank is moving to new headquarters in White Plains at 12 Water Street and has four branch locations: Yonkers at 2001 Central Park Avenue, White Plains at 464 Mamaroneck Avenue, Thornwood at 994 Broadway, and Mount Kisco at 51 South Moger Avenue.