The Federal Savings Bank, which is owned and operated by military veterans, has opened its Northeast flagship loan production office in Manhattan.
According to Steve Calk, chairman and CEO of the Federal Savings Bank, the opening of the new office at one of the city’s premier locations marks the beginning of the bank’s expansion in the Northeast region, while implementing “20 years of safe and sound lending practices.”
It is another example of “the strategic, yet fast-pace” growth and expansion,” he said, while the bank is exploring “the possibility of opening offices in North Jersey, Westchester and parts of Connecticut.”
The initial 40-employee staff at the Manhattan office is expected to grow to 100 within the next 12 months.
True to its roots, the bank made sure approximately 25% of the bankers at the new Manhattan office are either veterans or veteran family members.
Currently the Federal Savings Bank operates eight total loan production offices nationwide, as well as offices in Lake Forest, Calif., Naperville, Ill., and now New York.
