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Press Release by 2S ADVERTISING & MARKETING
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Community National Bank Opens Corporate Headquarters and Main Branch in Great Neck
View all releases by 2S ADVERTISING & MARKETING
This press release is about: community, national, bank, financial, headquarters, business, banking, customers, president, accounts, commercial
2005-04-07, 2S ADVERTISING & MARKETING - The opening of Community National Bank signals greater choice for Long Islanders who seek greater service and local decision making from a new independent bank.Great Neck, NY (PRWEB) April 7, 2005 -- Stuart H. Lubow, President and Chief Executive Officer of Community National Bank has announced the newly chartered financial institution, Community National Bank is open for business today after receiving final approval by the Office of the Comptroller of the Currency (OCC) and the FDIC. Mr. Lubow, a Mill Neck resident, opened the doors to customers today after the bank raised more than $30 million through its initial public offering of stock, exceeding the bank`s original goal. The bank’s main branch and corporate headquarters is located at 200 Middle Neck Road in Great Neck.
Due to an overwhelming positive response to the initial public offering document, to raise a minimum of $12 million and a maximum of $25 million, the amount was amended and increased to $30 million in capital raised. The mission of Community National Bank is to provide a traditional range of financial products and services to meet the depository and credit needs of individual consumers, small businesses and professionals in the Great Neck area. A financial services executive with nearly three decades of experience, Mr. Lubow has previously served with a number of independent banks in such positions as president, chief executive officer, and chief operating officer.
The opening of Community National Bank signals greater choice for Long Islanders who, after the fall out from larger bank mergers in the area, will benefit from a community bank focusing on relationship banking. At CNB, the president and all of the bank’s
senior staff will be available to serve business and consumer customers directly, while making important banking business decisions locally. “Choice and convenience will form the mainstay of our day to day operations,” Mr. Lubow explained. “With features including extended lobby hours weekdays plus both Saturday and Sunday hours,
24-hour ATM service, internet banking, and more, Community National Bank will bring a host of local banking benefits that translate into superior customer service.”
As a community bank, Lubow says there will be a large focus on personal customer service which will be apparent during the Grand Opening weekend Community National Bank is hosting to introduce itself. Scheduled for May 21-22, festivities will include a Dixie Land theme complete with festive band music, face painting, clowns, food vendors, giveaways and raffles. The bank will also be offering a multitude of special rates and special accounts for customers stopping by over the weekend.
"The fact that our initial offering has met with such success shows that the community is eager for a new commercial bank specifically created to meet the particular needs of small and medium size businesses in the Great Neck area," Mr. Lubow said. As a local, independent bank, Community National will be able to provide a combination of personalized service and fast, home-based decision-making that larger regional banks just can`t deliver. Some of the banking services include Power Plus checking; an interest bearing checking account delivering 2.75 % interest as well as totally free checking, with no minimum balance for personal accounts. Business checking accounts will also be free. Community National Bank chose Long Island to launch its new financial services institution and to establish its headquarters because of the robust community found in Great Neck.
Community National Bank will offer a full range of modern financial services, backed by state-of-the-art technology. In addition to residential mortgages, home equity lines of credit, commercial mortgages and business loans and lines of credit, the bank will offer a complete selection of traditional personal and commercial banking products such as no-fee individual and business checking accounts, IRA accounts, statement and passbook savings, and certificates of deposit. As a Small Business Administration (SBA) Lender, the bank will also be able to offer special loan and financial management programs designed to help small businesses succeed.
“Once word has spread that CNB is bringing the Great Neck community an alternative and better way to bank, we expect to grow quickly. All customers will be greeted by an information assistant, and will have immediate access to any staff member, including senior officers. In short, CNB will revitalize the concept of hometown banking, updated with the latest technological advances and backed by a staff of knowledgeable, friendly professionals.”
Construction on the Bank`s main branch and corporate headquarters has been completed, and the Bank will open its doors to new customers, today. Mr. Lubow also announced that Thomas A. Morabito will serve as the bank`s Executive Vice President and Senior Commercial Lending Officer; Marc S. Sovelove will serve as Senior Vice President and Retail Lending Officer; and Paul Hagan, will serve as Chief Financial officer.
Source: PR Web™
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